Overview and Scope
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.
Sizing and Forecast
The aircraft autopilot system market size has grown strongly in recent years. It will grow from $5.2 billion in 2023 to $5.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to enhanced aircraft performance, aerodynamic efficiency, weight reduction, safety and stability, streamlined aesthetics, market competitiveness..
The aircraft autopilot system market size is expected to see strong growth in the next few years. It will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to next-generation aircraft designs, sustainability and green aviation, regulatory requirements, global air traffic growth, adoption of advanced materials.. Major trends in the forecast period include technological integration, integration of noise reduction technologies, customization for different aircraft types, retrofitting and aftermarket services, collaborations and partnerships..
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Segmentation & Regional Insights
The aircraft autopilot system market covered in this report is segmented –
1) By Components: Computer System, Gyros, Global Positioning System (GPS), Actuators
2) By Type: Fixed Wing, Rotary Wing
3) By System: Attitude and Heading Reference System, Flight Director System, Flight Control System, Avionics System, Other Systems
4) By Application: Commercial, Military, Civil
Top 5 Major Players:
- Honeywell International Inc.,
- MicroPilot,
- Lockheed Martin Corporation,
- BAE Systems PLC,
- Collins Aerospace- RXT corporation
North America was the largest region in the aircraft autopilot system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aircraft autopilot system market during the forecast period. The regions covered in the aircraft autopilot system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the aircraft autopilot system market report are Honeywell International Inc., MicroPilot, Lockheed Martin Corporation, BAE Systems plc, Collins Aerospace- RXT corporation, Furuno Electric Co. Ltd., Garmin Ltd., Airware, Dynon Avionics, Trimble Inc., Esterline Technologies Corporation, General Electric Company, Avidyne Corporation, Trio Avionics, Safran Electronics & Defense, Genesys Aerosystems, Cloud Cap Technology, Century Flight Systems, L-3 Communications Holdings Inc., Meggitt plc, Moog Inc., NavtechGPS, Northrop Grumman Corporation, Precision Flight Controls Inc., Sagem Avionics Inc., Sandel Avionics Inc., S-TEC Corporation, Thales Group, Aspen Avionics Inc., Universal Avionics Systems Corporation, Chelton Limited
The aircraft autopilot system market report table of contents includes:
1. Executive Summary
2. Aircraft Autopilot System Market Characteristics
3. Aircraft Autopilot System Market Trends And Strategies
4. Aircraft Autopilot System Market – Macro Economic Scenario
5. Global Aircraft Autopilot System Market Size and Growth
…..
31. Global Aircraft Autopilot System Market Competitive Benchmarking
32. Global Aircraft Autopilot System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Autopilot System Market
34. Aircraft Autopilot System Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Aircraft Autopilot System Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Aircraft Autopilot System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Aircraft Autopilot System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Honeywell International Inc. Financial Performance
Table 76: MicroPilot Financial Performance
Table 77: Lockheed Martin Corporation Financial Performance
Table 78: BAE Systems plc Financial Performance
Table 79: Collins Aerospace- RXT corporation Financial Performance
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