Press release
Aircraft Autopilot System Market Growth Rate and Forecast by Lockheed Martin, Honeywell International, Furuno Electric, Garmin, Micropilot
Key Players
The key players of Global Aircraft Autopilot System Markets are Lockheed Martin Corporation (U.S), Rockwell Collins Inc. (U.S.), Honeywell International Inc. (U.S.), Genesys Aerosystems (U.S.), Furuno Electric Co. Ltd. (Japan), Garmin Ltd. (Switzerland), Micropilot Inc. (Canada), Raymarine Ltd. (U.S.), Airware (U.S.) and Cloud Cap Technology (U.S.).
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Market Overview
Autopilot system is an important part of an aircraft, which is used to operate the aircraft without pilot supervision. It consists of various components such as the computer system, actuator, and others. It is used for controlling an aircraft, by eliminating the need for a human operator for constant monitoring. The growing need for automation of the aircrafts is the primary factor driving the growth of the market. Major players of the market making huge investments into R&D for developing advanced technologies, is also fuelling the growth of the market. The huge maintenance costs and the high complexity in system integration are some factors that may hamper the growth of the market.
The Global Aircraft Autopilot System Market is estimated to witness a CAGR of more than 8% during the forecast period from 2018 to 2023.
Technological improvements will be a key trend for aircraft autopilot system market growth. The case of aircraft MH 370, which went missing on 8 March 2014 while flying from Kuala Lumpur International Airport in Malaysia, has created ample chaos in the commercial aviation industry as the reasons for its disappearance are still unclear. Keeping such events in view, the aerospace companies are developing their R&D expertise to prevent future aircraft misfortunes. Therefore, airlines are stressing on sophisticated, autonomous technology that can control the flight in case of any danger.
The market has been analysed based on components, application and regions. On the basis of components, global aircraft autopilot systems market is segmented as computer systems, gyros, GPS, and actuators. The computer systems segment dominates the components segment of global aircraft autopilot systems market. This computer system is used to program the autopilot system as it helps the pilots, interact with the GPS and the gyros, and transfers the data to the actuator, which then moves the aircraft. Gyros, and GPS are expected to contribute significantly during the forecast period.
Global Aircraft Autopilot System Market, By Segmentation
North America dominates the autopilot systems market. Emerging regions, such as Asia Pacific, Middle East, and Latin America, are expected to show a rigorous growth with the increase in demand for aircrafts, and the benefits of autopilots in reducing driver fatigue, improving fuel efficiency, and allowing longer cruise time.
Europe and U.S. autopilot system market is forecasted to continue leading global revenue in the coming years. The incorporation of rules and regulations for improvement of flight safety and technology standards for airlines and passengers will be a prominent trend in the forecast period.
Market Research Analysis
On the basis of application, the global Aircraft Autopilot System Market is segmented as Narrow-body aircrafts, Wide-body aircrafts and others. Narrow-body aircrafts dominates the application segment of aircraft autopilot system market. Narrow body aircraft has lesser capacity than the widebody aircraft, they are larger in number. These aircrafts fly over short routes and are thus suited to cater the budget travellers. As of 2016, there were over 15,000 narrow body planes, across the globe, which would be replaced by approximately 12,000 such planes by 2035. Widebody aircraft is expected to contribute significantly, during the forecast period.
Scope of the Report
This study provides an overview of the global aircraft autopilot system market, tracking three market segments across three geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Americas, EMEA, and Asia Pacific,. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Aircraft autopilot system market as components and application.
By Components
Computer systems
Gyros
GPS (Global positioning system)
Actuators
By Application
Narrow-body Aircrafts
Wide-body Aircrafts
Others
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