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In-flight Autopilot (automated) Systems Market Is Estimated To Reach $9.4 Billion By 2024
In-Flight Autopilot (Automated) Systems Market report published by Accurize Market Research forecast that the global market is expected to reach $9.4 billion by 2024; growing at a CAGR of 4.6% from 2016 to 2024. By geography, the Asia Pacific and RoW are expected to grow at a CAGR of 6.8% and 5.9%, respectively, during the forecast period.
Increasing requirement for automation in the aviation industry to drive the growth of-flight autopilot systems market
Some major factors supporting the growth of global in-flight autopilot systems market are increasing the necessity for automation in the aviation industry, increasing focus towards improving operational efficiency and increasing the number of air passengers. However, the huge cost of in-flight autopilot systems and high dependence on airline companies may act as a restraint for the growth of the market. Moreover, R&D activities to develop innovative features would provide several growth opportunities for the market in the future years.
In-Flight Autopilot (Automated) Systems Market is segmented based on system type, aircraft type, application, and geography. By system type, the market is divided into the flight director system, attitude and heading reference system, avionics system, flight control system, and other system types. Based on the aircraft type segment, the market is segregated into rotary wings aircraft and fixed-wing aircraft. Further, the application is categorized into commercial aircraft, military aircraft, and civilian aircraft.
Based on geography, global in-flight autopilot (automated) systems the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North American countries include the U.S., Canada, and Mexico whereas Europe segment consists of the UK, France, Germany, Italy, and the Rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, New Zealand, Papua New Guinea, and Fiji, among others, and the Rest of Asia- Pacific, while RoW is bifurcated into South America, the Middle East, and Africa.
“Fixed-wing aircraft accounted for the largest market share in the type segment", says Accurize
Fixed-wing aircraft accounted for the largest market share in 2016, in the aircraft type segment, and are expected to continue its dominance during the forecast period 2016 – 2024. The growth is majorly attributed to the mounting focus of the airline companies towards the automation of the aircraft. Commercial aircrafts accounted for the largest market share in 2016, in the application segment, and are expected to continue its dominance during the forecast period 2016 – 2024, Growing focus towards FlightSafety coupled with the rising number of air passengers in commercial aircraft has driven the market for commercial aircrafts.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America subjugated the global market with the largest market share of 46% in 2016, and expected to continue its dominance during the estimated period, owing to countries such as the U.S., is continuously providing their military aircraft with the highly superior versions of autopilots.
Top players in the market
The major companies operating in the market are Cloud Cap Technology, Inc., Rockwell Collins, Inc., Lockheed Martin Corporation, MicroPilot, Inc., GenesysAerosystems Group, Inc., Garmin Ltd., General Electric The company, Lufthansa Systems GmbH, and Esterline Technologies, among others.
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