In-flight Autopilot Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 09/09/2016 -- Global In-flight Autopilot Systems Market: Snapshot
Most of the aircraft manufacturers are currently in a phase of evolving their pilot guidance and autopilot systems to implement the latest ones available. This falls in line with their drive to increase the scope of automation in aircrafts. This is a key driver for the demand for in-flight autopilot systems.
Another factors that works in favor of in-flight autopilot systems providers is the overall improvements made by aircraft makers in enhancing operational efficiency, including the implementation of autopilot systems. This also includes the implementation of performance-based navigation, a new concept that improve the description of an aircraft's usage of fuel efficiency as well as maintenance of passenger safety. Another advantage that aircraft companies seek from in-flight autopilot systems is the reduction of pilot fatigue through the use of enhanced autopilot systems.
The resultant progress shown by in-flight autopilot systems revenues from a global perspective is a CAGR of 4.0% from 2015 to 2021. This market is expected to reach US$8.14 bn by the end of 2021.
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North America Defense Modernization Allows Highest Regional Demand for In-Flight Autopilot Systems
North America has consistently provided the highest demand for in-flight autopilot systems over the recent past. It is expected to continue this trend till 2021, by the end of which it is expected to take up 45.50% of the in-flight autopilot systems revenue share. The biggest contributor to this demand is the U.S. defense industry, which is rapidly increasing the number of defense modernization programs for all sectors. This gives most key players a chance to introduce the latest systems to the automated aviation vehicles in the defense industry.
The demand for in-flight autopilot systems in Europe is also on the rise, thanks to the highly developed network of airways that make it easier to introduce automation in the aviation industry. At the same time, the rising number of air travelers in Asia Pacific is fueling the demand for in-flight autopilot systems, thereby generating a higher interest from global players.
Commercial Aircrafts Increase Demand for In-flight Autopilot Systems Market
By 2021, the revenue generated by in-flight autopilot systems players in commercial aircraft applications is expected to reach US$5.2 bn, making it the largest one till then. The key reason for the high demand for commercial aircraft in-flight autopilot systems is the increasing number of air passengers across the world, for both domestic and international flights. This will have a highly positive effect on most of the key providers of in-flight autopilot systems in the coming years. The commercial aircrafts segment is also showing a greater focus on the use of autopilot systems to reduce the scope of human error during flight as well as landing, further boosting the demand for in-flight autopilot systems.
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Key in-flight autopilot systems makers include BAE System Plc., L3 Communication Holding, Inc., Garmin Ltd., Honeywell International, Inc., and Rockwell Collins, Inc.