Press release
Autopilot System Market is Trending with CAGR of 8.3% by 2026, Key Players- Rockwell Collins, Honeywell International, Cloud Cap Technology, Genesys Aerosystems, Micropilot, Lockheed Martin, Garmin, Airware, Comnav Marine, Trimble Navigation Limited
The Global Autopilot System Market is accounted for $3.11 billion in 2017 and expected to grow at a CAGR of 8.3% to reach $6.99 billion by 2026. The reduced installation costs, enhanced efficiencies and the rising adoption rates for automation are some of the driving factors in the market. However, the high maintenance costs and the stringent government regulations restrict the market growth. The unmanned aerial vehicles are the recent trends in the market that is generating ample growth opportunities.
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Industry Insights:
Autopilot systems will play a crucial role in the flight management infrastructure. It is a mechanical, electrical or hydraulic system which allows in controlling the aerial vehicle or ships to run with minimal human assistance. This autopilot system stores data from inertial measurement instruments. Further, by using those store data it takes corrective action in order to guide the aerial vehicle. An autopilot system also maintains the orientations of the aerial vehicle or ships by monitoring the related run data. There are three major level of controls used in autopilot system including single axis autopilot control, two axis autopilot controls and three axis autopilot adds controls. The autopilot systems are being used mainly in the navigation sector such as airplanes, ships, and unmanned aerial vehicles and these systems also consume less fuel when compare to a manual operation.
Major Players:
Some of the key players in the Global Autopilot Systems market are Bae Systems PLC, Rockwell Collins Inc., Honeywell International Inc., Cloud Cap Technology, Genesys Aerosystems, Micropilot Inc., Lockheed Martin, Garmin Ltd., Airware Inc., Comnav Marine Ltd, Trimble Navigation Limited., Furuno Electric Co. Ltd., Raymarine Uk Ltd, Raytheon Anschutz Gmbh, 3D Robotics Inc., Navico Group, Century Flight Systems Inc., TMQ, Electronics International Pty Ltd., DJI Science and Technology Co., Ltd. and Northrop Grumman Sperry Marine B.V.
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Market Segmentation:
By component, actuator is a type of motor that is used in machines and is accountable for moving and controlling a mechanism. Actuator takes energy as an input that is generated from air, electricity or liquid and is converted into a type of motion. The motions like linear motion, rotary motion or oscillatory motion can be virtually seen in types like blocking, clamping or ejecting. The air cylinder is the most common type of actuator that is powered by air.
Europe region is one of the leading regions for autopilot system and is expected to observe ample growth during the forecast period. Presence of large number of airline companies and growing adoption of autopilot systems in aircrafts are some of the major factors which are predicated to escalate the growth of autopilot system market in Europe region. Additionally, U.K. has been the major contributor to the growth of European autopilot system market.
Applications Covered:
• Defence & Homeland Security Application
• Commercial Applications
Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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