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Autopilot System Market 2023 - Global Industry Demand, Trends, Size, Scope, Share Analysis And Outlook 2032
Autopilot System Market
The Business Research Company's Autopilot System Global Market Report 2023 identifies increase in the number of air passengers as the major driver for the Autopilot System market's growth in the forecast period. 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.
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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Major competitors in the Autopilot System market are Rockwell Collins Inc., BAE Systems PLC, Cloud Cap Technology Inc., Furuno Electric Co. Ltd., Garmin International Inc.
A key trend in the Autopilot System market includes technological advancements. Major companies operating in the autopilot system sector are focused on developing new innovative technological solutions to strengthen their position in the market. For instance, in February 2023, Reliable Robotics Corp., a US-based developer of aircraft automation systems, introduced an advanced autopilot system for aircraft with high-precision navigation that will enhance aviation safety by enabling all-weather auto-taxi, auto-takeoff, and auto-landing, without the need for ground infrastructure. This innovative technology serves as the foundation for a continuous engagement autopilot, which will prevent loss of control in flight, controlled flight into terrain, fuel mismanagement, and other causes of fatal aircraft accidents.
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The Autopilot System market is segmented -
• By System: Attitude And Heading Reference System, Flight Control System, Flight Director System, Avionics System
• By Product Type: Rotary Wing Aircraft, Fixed Wing Aircraft
• By Platform: Airborne, Sea, Subsea, Land-Based
• 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.
The Business Research Company's "Global Autopilot System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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