Autopilot Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Autopilot Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global autopilot systems market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Autopilot refers to an electrical, mechanical or hydraulic system that is designed for aerial, marine and unmanned aerial vehicles (UAVs) to operate without requiring human assistance. It consists of a computer system, actuator and global positioning service (GPS), along with flight director control and avionic systems. These systems are designed to minimize the workload of the pilots over long travels and to improve the overall performance of the vessel. They can intercept the course, check for route deviations, control the steering wheel and maintain the assigned altitude. These systems find extensive applications across the automotive, agriculture, commercial aviation, military and aerospace industries.

The expanding aerospace and defence industries are among the key factors driving the market growth. Furthermore, a significant increase in air travel and water transportation activities, especially in the emerging economies, is also providing a boost to the market growth. Autopilot systems aid in enhancing situational awareness, navigational accuracy and the operational and fuel efficiency of the vessel. Additionally, the widespread adoption of the autopilot systems in UAVs and drones is acting as another growth inducing factor. These systems can manage Attitude & Heading Reference Systems (AHRS), airspeed, magnetometers, accelerometers, gyroscopes and flight control algorithms in the UAVs. They are also used in drones to monitor the route, track waypoints and take high-definition aerial photos and videos. Other factors, including technological advancements, growing need for automation across industries and extensive research and development (R&D) activities, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global autopilot systems market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, component, platform, system and application.

Breakup by Product Type:

Rotary Wing Aircraft
Fixed Wing Aircraft

Breakup by Component:

GPS (Global Positioning System)
Gyroscope
Software
Actuators

Breakup by Platform:

Airborne Platform
Land Based
Sea
Subsea

Breakup by System:

Attitude and Heading Reference System
Flight Director System
Flight Control System
Avionics System
Others

Breakup by Application:

Commercial
Civil
Military

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Bae Systems PLC, Cloud Cap Technology Inc., Furuno Electric Co. Ltd., Garmin International Inc., Genesys Aerosystems Group Inc., Honeywell International Inc., Lockheed Martin Corporation, Micropilot Inc., Rockwell Collins Inc., Trimble Inc., etc.

Key Questions Answered in This Report:

How has the global autopilot systems market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global autopilot systems market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the platform?
What is the breakup of the market based on the system?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global autopilot systems market and who are the key players?
What is the degree of competition in the industry?