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Autopilot System Market 2018-2024 Industry Vendors are Honeywell, Lockheed Martin, Rockwell Collins, Garmin International, BAE Systems, Raytheon

11-29-2018 07:44 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Aerospace Industry

Autopilot System Market

Autopilot System Market

Major applications of the autopilot system market are commercial, military & aerospace. The industry can be divided in to airborne, maritime and land based vehicles. Autopilot system market share for airborne vehicles include commercial and military aircrafts in the manned segment, while UAVs and missiles form part of the unmanned segment. Further, the maritime vehicles can be segmented into sea based like ships (military & commercial), and subsea based vehicles like submarines or underwater unmanned vehicles, remotely controlled vehicles.

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Europe and U.S. autopilot system market share is forecast to continue dominating global revenue in the coming years. The incorporation of rules and regulations for improvisation of flight safety and technology standards for airlines and passengers will be a notable trend. Latin America and APAC autopilot system market size are expected to witness significant growth during the forecast timeline.

By aircraft type, the industry can be segmented into narrow body, wide body, regional jets and turbo propeller aircrafts. The narrow body aircraft segment is expected to dominate the industry with the improvement in lifestyle and demand for air travel owing to the introduction of low cost carriers with technologically advanced products. Technological development has resulted in sophisticated systems offering various functionalities like heading mode, guide slope coupling, altitude hold, control wheel steering, vertical speed, course deviation warning, dual mode intercept, coupling and tracking, curve based navigation, sense and avoid.

Autopilot system is a crucial part of the flight management infrastructure. It is used for controlling a vehicle, thus eliminating the need of constant monitoring by a human operator. It does not eliminate the need of a human operator, instead, it helps them to operate the vehicle efficiently. It also consumes less fuel as compared to a manually handled plane.

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Increasing need for flight automation, reduction in operating expenses for higher gains, improved fuel efficiency, and safer cruise are the drivers which will accelerate the autopilot system market size in the coming years. Companies looking for technological advancements and developing high end equipment for greater control and robust applications for military and aerospace will drive the growth. These devices are used in manned and unmanned vehicles such as missiles and UAVs. The growing autonomous vehicles market will propel autopilot system market size. For instance, in January 2017, Tesla incorporated the enhanced autopilot system in its new self-driving cars.

Integration of hardware, software and complexity leading to system errors and failures are the limitations faced by this industry. Introduction of stringent laws and regulations by various governments regarding the aircraft safety represents a challenge to industry participants. Growth opportunities include sophisticated technology development that has led to ability to maintain navigational course. Expensive avionics and maintenance costs will restrict the autopilot system market share.

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Companies operating in this industry are Genesys Aerosystems, Honeywell International, Lockheed Martin, Rockwell Collins, Garmin and Micropilot. Other players include Furuno, Raymairne, DJI, Navico Group, Cloud Cap Technology, Airware, BAE Systems, Century Flight Systems, Comnav Marine, Raytheon, Trimble Navigation, TMQ International, Cobham PLC.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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