Huge Growth And Opportunities in Global Aircraft Autopilot System Market Till 2023

Posted August 31, 2018 by monicanerkar31

Market Research Future added New Report Named "Global Aircraft Autopilot System Market Research Report- Forecast 2023" to its Database.
Aircraft Autopilot System Market by Components (Computer Systems, Gyros, GPS, Actuators), Application (Commercial, Military), Aircraft Type (Fixed Wing, Rotary Wing), & Region (North America, Europe, Middle East & Africa, South America)-Forecast Till 2023

Market Scenario

At present, it has been observed that the rise in air travel is boosted by the low cost fare journeys. Increasing air travel would lead to rising safety concerns for aircraft, and it will in turn boost the autopilot system market growth. Aircraft autopilot system improves the precision of navigation, decreases the need for human involvement and helps in guiding the pilot and monitoring the route in case of unsafe situations to avoid risks of accidents. The section is designed to cutback the workload of the cockpit, and increase the efficiency of the pilot in regulating the flight. Autopilot system also reduces the overall operating cost. The role of autopilots has broadened significantly from pilot assistance, it now includes automated landing and also taking full control of aircraft in emergency situations. However, autopilots can never replace a human operator, but only assist in various operations such as monitoring the weather, systems, and trajectory.

On the basis of components, the industry can be segmented into four categories, Computer Systems, Gyros, GPS, and Actuators. The aircraft are equipped with GPS devices that can locate the aircraft in space. By using the navigation coordinates, the autopilot not only assists in keeping the plane straight, but it can also design and execute a complete flight route automatically.

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By aircraft type, the business can be segmented into narrow body, wide body, regional jets and turbo propeller aircrafts. Narrow body aircrafts are the one used by low cost carriers, and because low cost carriers are growing significantly this segment will see the most growth. Technological advancement has resulted in more reliable and efficient systems, offering various functionalities such as heading mode, guide slope connector, altitude grasp, control steering wheel, vertical speed display, course deviation cautioning, dual mode intercept, and curve based navigation.

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 key driver for market growth will be increasing demand for automation. Automation enhances flight operational safety and efficiency, and at the same time, it reduces operating costs which increases profits Increase in operational safety is especially critical for commercial airlines, which support millions of air travelers. Aircraft autopilot system market drivers include increasing the demand for automation, high fuel efficiency systems, increasing wide range of applications, and technological progress over a decade. The enormous maintenance costs, complexity in system integration, and changing government regulations, are challenges for the autopilot market. Integration of the different hardware, the complex software design which is required, and complexity leading to system errors and failures, are the various limitations faced by this industry. Moreover, Expensive avionics and maintenance costs will restrict the autopilot system market share.

Restraints the autopilot systems market face, are economic uncertainty, systems failures, and expensive electronics involved. Autopilot system is a crucial part of the flight management infrastructure. It is used for controlling aircraft, thus eliminating the need of constant monitoring by a human operator. It does not remove the need of a human operator, but it helps them operate the aircraft efficiently. Use of autopilot systems also improves fuel efficiency.

The global aircraft autopilot system market is estimated to witness a CAGR of more than 8% during the forecast period from 2018 to 2023.

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.

Key Players

The key players in global aircraft autopilot system market are Honeywell International Inc. (U.S.), Genesys Aerosystems (U.S.), Furuno Electric Co. Ltd. (Japan), Garmin Ltd. (Switzerland), MicroPilot (Canada), Lockheed Martin Corporation (U.S), Rockwell Collins (U.S.), Cloud Cap Technology (U.S.), Airware (U.S.) and DJI (China)

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Last Updated August 31, 2018