Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Autopilot Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global autopilot systems market reached a size of US$ 4.4 billion in 2022 and is expected to grow to US$ 6.0 billion by 2028, with a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2028.
Autopilot systems are electrical, mechanical, or hydraulic systems designed for use in aerial, marine, and unmanned aerial vehicles (UAVs) to operate without human intervention. These systems consist of computer systems, actuators, global positioning service (GPS), flight director control, and avionic systems.
They are used to reduce the workload of pilots during long journeys and improve vessel performance by intercepting the course, checking for route deviations, controlling the steering, and maintaining the assigned altitude. Autopilot systems have applications across various industries, including automotive, agriculture, commercial aviation, military, and aerospace.
Market Growth Drivers
Several factors are driving the growth of the autopilot systems market:
- Expanding Aerospace and Defense Industries: The growth of the aerospace and defense sectors is a significant driver of the market. Autopilot systems enhance situational awareness, navigational accuracy, and operational efficiency in these industries.
- Increased Air and Water Transportation: Rising air travel and water transportation activities, particularly in emerging economies, are boosting the demand for autopilot systems. These systems improve navigational accuracy and fuel efficiency.
- Adoption in UAVs and Drones: Autopilot systems are widely adopted in UAVs and drones, where they manage various systems and control algorithms. They are used for route monitoring, waypoint tracking, and capturing high-definition aerial photos and videos.
- Technological Advancements: Ongoing technological advancements in autopilot systems contribute to their adoption across industries. These advancements improve the performance and capabilities of these systems.
- Automation Needs: The growing need for automation in various industries is driving the adoption of autopilot systems. These systems can operate autonomously, reducing the need for human intervention.
- Research and Development (R&D) Activities: Extensive R&D activities are focused on enhancing autopilot system capabilities and expanding their applications.
Market Segmentation
The market is segmented based on various factors:
- Product Type: Rotary Wing Aircraft and Fixed Wing Aircraft.
- Component: GPS (Global Positioning System), Gyroscope, Software, and Actuators.
- Platform: Airborne Platform, Land-Based, Sea, and Subsea.
- System: Attitude and Heading Reference System, Flight Director System, Flight Control System, Avionics System, and Others.
- Application: Commercial, Civil, and Military.
- Region: North America, Asia Pacific, Europe, Latin America, Middle East, and Africa.
Key Players
Key players in the global autopilot systems market 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., Trimble Inc., and others.
Key Questions Answered
The report answers various key questions, including:
- How has the global autopilot systems market performed so far and what is its growth outlook?
- What are the key regional markets for autopilot systems?
- What is the impact of COVID-19 on the market?
- What are the key product types, components, platforms, systems, and applications in the market?
- What are the driving factors and challenges in the industry?
- Who are the major players in the market, and what is the degree of competition?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.4 Billion |
| Forecasted Market Value (USD) by 2028 | $6 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ysjlar
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