[150 Pages Report] Autopilot System Market research report categorizes global market by Application (Land, Sea, Airborne, Subsea), by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, Africa).
Dallas, TX -- (SBWIRE) -- 08/27/2014 -- According to the report "Autopilot System Market by Application (Airborne, Land, Sea, Subsea), by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, Africa) - Forecasts & Analysis to 2014 - 2019", published by MarketsandMarkets, the Autopilot System Market is estimated to be $46.5 Million in 2014, and expected to reach $54.84 Million in 2019 at a CAGR of 2.79%. The major challenges for this particular market will be the complexity in system integration.
Browse more than 40 market data Tables with 13 Figures spread through 150 Pages and in-depth TOC on "Autopilot System Market".
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North America holds maximum share in this market. The emerging regions are Asia-Pacific, The Middle East, and Latin America. These regions are expected to grow rapidly, primarily due to the increasing number of aircrafts demand in these regions.
Significant investments are made by the countries in the emerging regions due to the increasing demand for improved autopilot systems with greater facilities in the existing systems. The need for accuracy in the navigation system, minimization of human intervention and technological advancements in the autopilot systems for monitoring and controlling the trajectory in case of perilous situations to avoid accidents will fuel the autopilot system market over the next five years.
Complexity in integration and communication with other support systems and inaccuracies in the software are the major challenges faced by this market. The huge maintenance costs and the changing government regulations act as a limitation for the autopilot market.
The increased capabilities of the 3 axes autopilot systems with technological advancements will certainly drive the Autopilot System market. Better system compatibility and communication between the supporting systems with the Autopilot System will enhance its application in land, sea, subsea, and air. The multiple complex electronic subsystems attached to the Autopilots enable them to perform complex trajectory monitoring and controlling operations. The DIY (Do It Yourself) systems prove to be a great opportunity in the small UAV market over the next 5 years.
The Autopilot System market is driven by the increasing need of aircrafts and Unmanned Aerial Vehicles (UAV) in the aerial applications. The need for accuracy in the navigation system, minimization of human intervention and technological advancements in the autopilot systems for monitoring and controlling the trajectory in case of perilous situations to avoid accidents will fuel the autopilot system market over the next five years. The increase in fuel efficiency and reducing driver fatigue to scrutinize dynamic changes is expected to enhance the use of autopilot systems in future. Complexity in integration and communication with other support systems and any inaccuracies in the software are the major challenges faced by this market. The small UAV comprising of expensive electronics is a significant market for the Autopilot System market over the forecast period.
Demand for autopilot systems is expected to increase with the need for monitoring and controlling trajectory to avoid human fatigue. The evolution of the autopilot systems not only facilitates controlling the dynamic changes but also provides safer journey with minimum human intervention and other luxuries to the user and driver.
The operational complexity and the high maintenance and integration costs of the autopilot system will act as a limitation to autopilot market. The market is expected to see development of robust autopilot systems over the next five years. Autopilot systems are expected to be used widely for military activities such as surveillance and intelligence.
Raymarine (U.S.), Furuno (Japan), Garmin (Switzerland), TMQ (Australia), Simrad (U.S.), Cobham (U.K.) will be the market leaders that occupy a significant market share for the Autopilot System market.
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