Aircraft Autopilot System Market – Future Prospects Details for Business Development
Global Aircraft Autopilot System Market Size, Share, Growth 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
The global aircraft autopilot system market is expanding at a much faster rate with which, in no time, it can exceed a projected CAGR of 8% in the forecast period (2028-2023).
In its growth, the market will acquire a prominent position in the forecast period with improved precision of navigation in aircrafts autopilot system, reveals Market Research Future (MRFR). The rising trend of automation in aircraft is likely to support the aircraft autopilot system market and is growing steadily over the past years with exceeding prediction in the coming years.
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Currently, a trend of frequent air travelers of every genre along with the rise in air travel options has boosted due to low-cost fare journeys. This increasing air travel leads to safety issues in aircraft, and hence, the introduction of the autopilot system has taken the pace in its growth to higher strands. As per the research report by MRFR, the global aircraft autopilot system has captured great importance, and with the help of several factors, the growth CAGR is expected to exceed in the years to come.
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.
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.
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.
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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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