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
Global Aircraft Autopilot System Market is estimated to witness a CAGR of more than 8% during the forecast period from 2018 to 2023.
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).
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.
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.
Market Research Analysis:
On the basis of application, the Global Aircraft Autopilot System Market is segmented as Narrow-body aircrafts, Wide-body aircrafts and others. Narrow-body aircrafts dominates the application segment of aircraft autopilot system market. Narrowbody aircraft has lesser capacity than the widebody aircraft, they are larger in number. These aircrafts fly over short routes and are thus suited to cater the budget travelers. As of 2016, there were over 15,000 narrowbody planes, across the globe, which would be replaced by approximately 12,000 such planes by 2035. Widebody aircraft is expected to contribute significantly, during the forecast period
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