Autopilot System Market Explores New Growth Opportunities By 2024

Deerfield Beach, FL -- (SBWire) -- 10/26/2017 --Autopilot systems are mainly used to control the navigation processes instead of the constant human hands on the system. It, thus, does not replace human but instead just makes the monitoring and controlling of the aircraft easier. The autopilot systems are being used mainly in the navigation sector such as airplanes, ships, and unmanned aerial vehicles.

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The global autopilot systems market growth is expected to increase due to the high demand for reduced installation costs, flight operation safety, enhanced efficiency, and automated flight operations. The rising investments by the leading players in the development of the technologically advanced autopilot systems help escalate the growth of the global market. The companies are adopting strategic contracts for a huge benefit which in turn boosts the global market growth. The increasing demand for the autopilot systems with improved facilities in the existing systems in the emerging regions significantly drives the global market. The other factors expected to fuel the global market are technologically advanced systems, minimal human intervention, navigation system accuracy, total control, and monitoring to avoid accidents. The 'Do It Yourself' autopilots prove beneficial for the unmanned aerial vehicles which in turn boost the global market growth. The stringent government regulatory policies, high maintenance cost, and complex communication, as well as integration problems associated with the other systems, restrain the global autopilot market. The involvement of high-cost electronics and sometimes failures of the software or hardware in the systems also hampers the growth of the global market.

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The global autopilot system market is bifurcated based on the product, application, platform, component, and geography. The product segment is categorized into airborne, land-based, sea, and subsea. The airborne, land-based, and sea subsegments are further categorized into manned and unmanned. The application segment is divided into homeland security, defense, and commercial. The component segment is classified into gyros, software, actuators, and GPS. The regional segmentation includes Europe, the Middle East and Africa, Asia-Pacific, North America, and Latin America.

North America and Europe are expected to dominate the global autopilot systems market. The regions in Asia-Pacific region are expected to show positive growth. The U.S. in North America propels the global autopilot system market growth. The regions such as Asia-Pacific and Latin America are expected to provide a platform for the autopilot system manufacturers to invest on.

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The major players in the global autopilot system market include DJI, Raymarine Ltd., Garmin Ltd., Furuno Electric Co. Ltd., Simrad, Mircopilot, TMQ International, Genesys Aerosystems, and Cobham Plc. The other players in the global market include Honeywell International Inc., Trimble Navigation Ltd., Century Flight Systems Inc., Cloud Cap Technology, BAE Systems Plc., and Rockwell Collins Inc.