Pune, India -- (SBWIRE) -- 02/02/2018 -- Market Highlights:
Autopilot system is an important part of an aircraft, which is used to operate the aircraft without pilot supervision. It consists of various components such as the computer system, actuator, and others. It is used for controlling an aircraft, by eliminating the need for a human operator for constant monitoring. The growing need for automation of the aircrafts is the primary factor driving the growth of the market. Major players of the market making huge investments into R&D for developing advanced technologies, is also fuelling the growth of the market. Additionally, Aircraft Autopilot Systems support in the lowering fuel consumption of the aircraft and improved navigation accuracy these factors are further contributing to the growth of the market.
The in-flight autopilot systems market is also witnessing trends such as technological advancements which has enabled its integration with complex systems, and is expected to fuel its demand in the military and commercial aircrafts. Autopilot systems are also used more often in long air routes in order to minimize human intervention and thus reducing the pilot's fatigue.
On the other hand, Aircraft Autopilot Systems market is a niche market with handful of manufacturers operate, this leads to higher cost of these systems, which in turn acts as a barrier for the growth of the market. Autopilot systems comprise a range of robust and complex equipment and are laden with wide variety of features. As a result of its complexity there is a high cost of maintenance involved which further impacts the market negatively. The huge maintenance costs and the high complexity in system integration are some other factors that may hamper the growth of the market.
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The key players of global aircraft autopilot system markets are Lockheed Martin Corporation (U.S), Rockwell Collins Inc. (U.S.), Honeywell International Inc. (U.S.), Genesys Aerosystems (U.S.), Furuno Electric Co. Ltd. (Japan), Garmin Ltd. (Switzerland), Micropilot Inc. (Canada), Raymarine Ltd. (U.S.), Airware (U.S.) and Cloud Cap Technology (U.S.).
Characterized by the presence of several major well-established players, the global Market of Aircraft Autopilot System appears to be highly competitive. To maintain their market position and to drive the market growth, these players are focusing upon developing their product portfolio with the help of advance technologies. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent manufacturers of Aircraft Autopilot System Equipment are targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to manufacture new Aircraft Autopilot System Equipment that match the changing trends and needs of the patrons. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among Aircraft Autopilot System Equipment industry marketers on inbound lead generation over branding-oriented efforts.
Recent trends have shown that the various manufacturers of in-flight autopilot systems are constantly engaged in research and development activities in order to improve the performance of the aircraft and also making it fuel efficient by equipping the aircraft with the most advanced versions of autopilot systems.
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The Americas dominate the global aircraft autopilot system market. Growing regulations regarding the enhancement of flight safety standards and technology for passengers and airlines are the factors that are driving the demand of the market in this region. The APAC region is also expected to contribute significantly, mainly due to the increasing demand for aircrafts in countries such as China, India, and Japan.
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