The Autopilot System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s comprehensive Autopilot System Global Market Report for 2024, the burgeoning trajectory of the autopilot system market is conspicuous. From its current valuation of $5.36 billion, the market is poised to ascend to $5.73 billion in the same year, boasting a robust compound annual growth rate (CAGR) of 6.8%. This upward surge is a testament to the historical confluence of factors such as advancements in aviation safety, burgeoning airline industry, stringent regulatory standards, and compliance protocols, coupled with the augmentation of aircraft performance and the flourishing landscape of commercial aviation.
Projections for the near future indicate a resolute expansion of the autopilot system market, foreseeing a commendable ascent to $7.56 billion by 2028, underpinned by a CAGR of 7.2%. This anticipated growth is underpinned by factors including an escalating demand for bolstering passenger safety, seamless integration with next-gen aircraft, an unwavering focus on fuel efficiency, periodic updates in regulatory compliance, and the continual evolution of artificial intelligence (AI) and machine learning technologies.
The forecasted trends for the impending period underscore the increasing prevalence of software and firmware upgrades, a pronounced emphasis on redundancy and safety measures, the evolution of advanced unmanned aerial vehicles (UAVs), groundbreaking innovations in human-machine interface, and the integration of cutting-edge sensor technologies.
An increase in the number of air passengers is expected to propel the growth of the autopilot system market going forward. 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. Additionally, a rise in both business and leisure travel has resulted from the extended lockdown during the COVID-19 outbreak. For instance, the number of passengers carried by air increased by 65% from January to April 2022 compared to April 2021, while the number of aircraft flight departures increased by 30%, according to a report released in May 2022 by the International Civil Aviation Organization (ICAO), a UN agency and global forum for civil aviation. Therefore, an increase in the air passengers is driving the autopilot system market.
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The autopilot system market covered in this report is segmented –
1) By System: Attitude And Heading Reference System, Flight Control System, Flight Director System, Avionics System
2) By Product Type: Rotary Wing Aircraft, Fixed Wing Aircraft
3) By Platform: Airborne, Sea, Subsea, Land-Based
4) By Application: Military, Defense, Commercial
Top 5 Major Players:
- Rockwell Collins Inc
- BAE Systems PLC
- Cloud Cap Technology Inc
- Furuno Electric Co. Ltd
- Garmin International Inc
A salient trend shaping the landscape of the autopilot system market is the relentless march of technological advancements. Eminent entities in the sector are directing their endeavors towards pioneering novel and innovative technological solutions, thereby fortifying their market standing. A notable illustration of this commitment is discernible in the initiative undertaken by Reliable Robotics Corp., a prominent US-based developer of aircraft automation systems. In February 2024, the corporation unveiled an advanced autopilot system designed for aircraft, featuring high-precision navigation capabilities. This groundbreaking technology is poised to elevate aviation safety standards through the facilitation of all-weather auto-taxi, auto-takeoff, and auto-landing, obviating the need for ground infrastructure. Notably, this innovative autopilot system serves as the bedrock for a continuous engagement autopilot, acting as a proactive deterrent against potential hazards such as loss of control in flight, controlled flight into terrain, fuel mismanagement, and other factors contributing to fatal aircraft accidents.
The autopilot system market report table of contents includes:
1. Executive Summary
2. Autopilot System Market Characteristics
3. Autopilot System Market Trends And Strategies
4. Autopilot System Market – Macro Economic Scenario
5. Global Autopilot System Market Size and Growth
…..
31. Global Autopilot System Market Competitive Benchmarking
32. Global Autopilot System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Autopilot System Market
34. Autopilot System Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Autopilot System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Autopilot System Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Autopilot System Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…
Table 75: Rockwell Collins Inc. Financial Performance
Table 76: BAE Systems plc Financial Performance
Table 77: Cloud Cap Technology Inc. Financial Performance
Table 78: Furuno Electric Co. Ltd. Financial Performance
Table 79: Garmin International Inc. Financial Performance
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