Global Autopilot Systems Market to Grow at 4.5% During 2024-2032, Impelled by Expanding Applications

June 01, 2020 | Aerospace and Defense

According to the latest report by IMARC Group, titled "Autopilot Systems Market Report by Product Type (Rotary Wing Aircraft, Fixed Wing Aircraft), Component (GPS (Global Positioning System), Gyroscope, Software, Actuators), Platform (Airborne Platform, Land Based, Sea, Subsea), System (Attitude and Heading Reference System, Flight Director System, Flight Control System, Avionics System, and Others), Application (Commercial, Civil, Military), and Region 2024-2032," the global autopilot systems market reached a value of US$ 4.6 Billion in 2023. Autopilot systems are flight control systems that automate the process of guiding the trajectory of an aircraft or aerial vehicle across the automotive, military and aerospace industries. They consist of a computer system, actuator, avionic system and GPS technology to assist human operators in controlling the vehicle. It also comprises sensors around the vehicle that are used to detect and monitor external data pertaining to speed, turbulence and altitude, which is forwarded to the computer system for smooth operation. Consequently, these systems are employed to assist manual control and maintain an assigned heading. Apart from this, they are also used for detecting emergency circumstances and accordingly intercepting the course of the trajectory.

Global Autopilot Systems Market Trends:

The global market is primarily driven by significant growth in the commercial aviation sector. Autopilot systems are widely utilized for improving the navigational accuracy and handling emergency situations efficiently to avoid risks of accidents while minimizing human intervention, which is providing a thrust to the market growth. The market is further driven by the extensive integration of GPS autopilot systems with drones and tractors as an essential component in crop management. These systems are used for surveillance and performing redundant activities, such as rowing, plowing, fertilizing, and tilling, in a highly effective manner, which improves the overall efficiency of the farming process. Various established players, including Tesla, Inc., have launched robocars in the market that are equipped with autopilot systems. Since these cars can detect the drivable area and can be smoothly driven on highways and areas with less traffic, they are widely gaining prominence among the masses. Some of the other factors driving the market growth include the growing demand for automation in the aerospace and defense industries and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is expected to grow at a CAGR of 4.5% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been bifurcated into rotary and fixed wing aircraft.
Based on the component, the market has been divided into GPS (global positioning system), gyroscope, software and actuators.
On the basis of the platform, the market has been classified into the airborne platform, land based, sea and subsea.
Based on the system, the market has been categorized into attitude and heading reference system, flight director system, flight control system, avionics system and others.
On the basis of the application, the market has been segmented into commercial, civil and military.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been examined with the detailed profiles of the key players operating in the market. Some of these players include 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. and Trimble Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Component, Platform, System, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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. and Trimble Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
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Global Autopilot Systems Market to Grow at 4.5% During 2024-2032, Impelled by Expanding Applications

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