Aircraft Autopilot System Global Market Report 2023
Major players in the aircraft autopilot system market are Honeywell International Inc., MicroPilot, Lockheed Martin Corporation, BAE Systems PLC, Collins Aerospace (United Technologies Corporation), Furuno Electric Co.
New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Autopilot System Global Market Report 2023" - https://www.reportlinker.com/p06479865/?utm_source=GNW
Ltd., Garmin Ltd., Rockwell Collins, Airware, Dynon Avionics, Trimble Inc., Esterline Technologies Corporation, General Electric Company., Avidyne, and Trio Avionics.
The global aircraft autopilot system market is expected to grow from $4.78 billion in 2022 to $5.20 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft autopilot system market is expected to reach $7.02 billion in 2027 at a CAGR of 7.8%.
The aircraft autopilot system market consists of revenues earned by entities by providing services such as direction assistance, navigation management, track guidance services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The aircraft autopilot system market also includes sales of sensing unit, autopilot computer, autopilot servo, command unit which are used in providing aircraft autopilot system services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An aircraft autopilot system is a device that can guide an aircraft without direct assistance from the pilot.It functions as software or a tool that regulates the aircraft under particular conditions by utilizing the vehicle’s hydraulic, mechanical, and electronic systems.
It can regulate the flight plan, stabilize speed and height, and control the aircraft’s direction.
North America was the largest region in the aircraft autopilot system market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in aircraft autopilot system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of an aircraft autopilot system are a computer system, gyros, GPS, and actuators.An aircraft computer system refers to the computerized components and systems that are used in aircraft.
The autopilot system in aircraft uses a computer system to control the aircraft.The computing element of an autopilot may be analog or digital, and its function is to interpret the sensing element data, integrate commands, and navigational input.
The types of aircraft autopilot system include a fixed wing and rotary wing that have system combination of attitude and heading reference systems, flight director systems, flight control systems, avionics systems, and others. The aircraft autopilot system finds its application in commercial, military, and civil aircrafts.
The growing air traffic is expected to drive the aircraft autopilot system market going forward.Air traffic refers to aircraft movement in the air or on an airport surface, excluding loading ramps and parking areas.
An autopilot is a system that controls the flight path of an aircraft without the need for constant manual control by a human operator.The autopilot system moves the aircraft’s control surfaces to maneuver in the increased air traffic.
As air traffic grows, there is a growing demand for more advanced automation technology to assist pilots in managing the increased workload and ensuring safe and efficient flight operations. For instance, in April 2023, the International Air Transport Association (IATA), a Cuba-based trade association of the world’s airlines, reported that global air travel continued to grow in February 2023, with total traffic measured in revenue passenger kilometers rising 55.5% compared to February 2022. Furthermore, in March 2023, the Bureau of Transportation Statistics, a US-based part of the United States Department of Transportation, reported that in 2022, the US airlines carried 194 million more passengers than in 2021, a 30% increase year-to-year. Therefore, the growing air traffic is expected to propel the aircraft autopilot system market growth.
Technological advancements are a key trend gaining popularity in the aircraft autopilot system market.Companies operating in the aircraft autopilot system market are adopting new technologies and developing unmanned aircraft systems (UAS) with advanced autopilot technologies to sustain their position in the market.
For instance, in April 2021, uAvionix, a US-based company developing the smallest, lightest and affordable ADS-B transponder, launched Georg, the first autopilot for unmanned aircraft systems (UAS).George, weighing 80 grams, is a low-size, weight, and power (SWaP) certified solution for enterprise operations.
It is based on the open-source autopilot Cube from CubePilot. George integrates Cube with Design Assurance Level C (DAL-C) hardware, safety, and sensor monitoring, allowing clients to meet the type certification and safety case criteria for BVLOS missions.
In December 2020, Moog Inc., a US-based designer, and manufacturer of electric, electro-hydraulic, and hydraulic motion and other products for aerospace and defense, acquired Genesys Aerosystems for $77.7 million. With this acquisition, Moog is positioned to continue Genesys Aerosystem’s long-term development of industry-leading avionics products and unwavering focus on pleasing our customers. Genesys Aerosystems is a US-based producer of autopilot and avionics systems for aircraft.
The countries covered in the aircraft autopilot system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft autopilot system market research report is one of a series of new reports that provides aircraft autopilot system market statistics, including aircraft autopilot system industry global market size, regional shares, competitors with a aircraft autopilot system market share, detailed aircraft autopilot system market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft autopilot system industry. This aircraft autopilot system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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