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Autopilot System Market 2023 - Growth Analysis, Recent Trends, Industry Size, Share And Forecast To 2032
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032Autopilot System Market Size, Growth Rate, And Forecast
The global autopilot system market size is expected to grow from $5.04 billion in 2022 to $5.36 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global autopilot system market size is expected to reach $6.99 billion in 2027 at a CAGR of 6.8%.
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Autopilot System Market Drivers
An increase in the number of air passengers is expected to propel the growth of the autopilot system market going forward. An air passenger is a person who travels by plane or other means of air transportation. A rise in air passenger traffic can lead to a greater requirement for automated assistance in air traffic control. The function of automation in air traffic control is becoming increasingly significant as the number of flights handled each year grows at an exponential rate. Additionally, a rise in both business and leisure travel has resulted from the extended lockdown during the COVID-19 outbreak.
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Autopilot System Market Segments
1) By System: Attitude And Heading Reference System, Flight Control System, Flight Director System, Avionics System
2) By Product Type: Rotary Wing Aircraft, Fixed Wing Aircraft
3) By Platform: Airborne, Sea, Subsea, Land-Based
4) By Application: Military, Defense, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the autopilot system market.
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Autopilot System Market Key Players
Major competitors in the autopilot system market include Rockwell Collins Inc., BAE Systems PLC, Cloud Cap Technology Inc., Furuno Electric Co. Ltd., Garmin International Inc., Genesys Aerosystems Group Inc.
The Business Research Company's "Global Autopilot System Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Autopilot System Market Include:
1. Executive Summary
2. Autopilot System Market Characteristics
3. Autopilot System Market Trends And Strategies
4. Autopilot System Market - Macro Economic Scenario
5. Autopilot System Market Size And Growth
......
26. Africa Autopilot System Market
27. Autopilot System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Autopilot System Market
29. Autopilot System Market Future Outlook and Potential Analysis
30. Appendix
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