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The global autopilot systems market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Autopilot refers to an electrical, mechanical or hydraulic system that is designed for aerial, marine and unmanned aerial vehicles (UAVs) to operate without requiring human assistance. It consists of a computer system, actuator and global positioning service (GPS), along with flight director control and avionic systems. These systems are designed to minimize the workload of the pilots over long travels and to improve the overall performance of the vessel. They can intercept the course, check for route deviations, control the steering wheel and maintain the assigned altitude. These systems find extensive applications across the automotive, agriculture, commercial aviation, military and aerospace industries.
The expanding aerospace and defence industries are among the key factors driving the market growth. Furthermore, a significant increase in air travel and water transportation activities, especially in the emerging economies, is also providing a boost to the market growth. Autopilot systems aid in enhancing situational awareness, navigational accuracy and the operational and fuel efficiency of the vessel. Additionally, the widespread adoption of the autopilot systems in UAVs and drones is acting as another growth inducing factor. These systems can manage Attitude & Heading Reference Systems (AHRS), airspeed, magnetometers, accelerometers, gyroscopes and flight control algorithms in the UAVs. They are also used in drones to monitor the route, track waypoints and take high-definition aerial photos and videos. Other factors, including technological advancements, growing need for automation across industries and extensive research and development (R&D) activities, are projected to drive the market further.
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The competitive landscape of the industry has also been examined with some of the key players being Bae Systems PLC, Cloud Cap Technology Inc., Furuno Electric Co. Ltd., Garmin International Inc., Genesys Aerosystems Group Inc., Honeywell International Inc., Lockheed Martin Corporation, Micropilot Inc., Rockwell Collins Inc., Trimble Inc, etc.
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