An electrical, mechanical, or hydraulic system known as an "autopilot" is one that allows unmanned aerial vehicles (UAVs), maritime craft, and aircraft to operate autonomously. Together with flight director control and avionics systems, it is made up of a computer system, an actuator, and a global positioning system (GPS). These devices are intended to enhance the overall performance of the vessel while reducing the workload of the pilots during lengthy voyages. They can handle the steering wheel, check for route deviations, intercept the course, and keep the designated altitude. Several industries, including those in the automobile, agricultural, commercial aviation, military, and aerospace, use these systems.
One of the major reasons fueling market expansion is the rising aerospace and defense sectors. Also, the market development is being boosted by a notable rise in air travel and maritime activity, particularly in emerging economies. Improved situational awareness, precise navigation, and operational and fuel efficiency are among benefits of autopilot systems. Another growth-promoting factor is the UAV and drone industry's increasing use of autopilot systems. The Attitude & Heading Reference Systems (AHRS), airspeed, magnetometers, accelerometers, gyroscopes, and flight control algorithms in the UAVs can all be managed by these systems. They are also used in drones to follow waypoints, monitor the path, and capture high-quality aerial images and movies. The market is expected to be further fueled by additional factors such as technological progress, an increase in the requirement for automation across industries, and significant research and development (R&D) efforts. The high cost of autopilot systems, operator dependence on them, and poor automation, which reduces situational awareness, are all predicted to restrain the growth of the worldwide autopilot system market.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion), (Thousand Units) |
| Segmentation | By Type, By Application, By Region |
| By Type |
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| By Application |
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| By Region |
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The demand for reducing operational costs to improve profits, enhancing the efficiency and safety of flight operations, and facilitating flight automation is anticipated to drive growth in the global autopilot systems market. As a result, significant market players continue to spend in the creation of cutting-edge architectural high-end autopilot systems. They are also entering into strategic contracts to gain a competitive advantage in the market.
All global industries had been severely damaged by the Covid-19 epidemic. The Covid-19 epidemic has a negative effect on the world market for autopilot systems. The need for autopilot systems has significantly decreased as a result of the fall in air travel due to the widespread Covid-19 infection. Air traffic has considerably decreased as a result of the severe ban on air travel imposed by numerous countries' harsh lockdown restrictions. The ongoing pandemic is still having an impact on the worldwide aviation sector. Due to a drop-in demand for autopilot systems brought on by the Covid-19 pandemic, the vendors of autopilot equipment have suffered losses. Nonetheless, the continuous vaccination program and decrease in Covid-19 cases are causing travel restrictions to be lifted in many nations and a slow recovery of international air traffic. The market is anticipated to rebound over the projected period due to an increase in the volume of air travelers and air freight during that time.
The autopilot system market is expected to grow at 6.14% CAGR from 2022 to 2029. It is expected to reach above USD 8.00 Billion by 2029 from USD 4.68 Billion in 2020.
North America held more than 38% of the autopilot system market revenue share in 2021 and will witness expansion in the forecast period.
The growing aerospace and military industries are one of the key factors driving market expansion. A considerable increase in air travel and maritime activities, particularly in emerging economies, is also helping the sector flourish. Benefits of autopilot systems include improved situational awareness, precise navigation, and operational and fuel efficiency.
The market research report covers the analysis of market players. Key companies profiled in the report include Bell Textron, Garmin Ltd, Cobham Plc, Furuno, Micropilot, Raymarine Ltd, BAE Systems Plc, TMQ International, Moog Inc., Meggitt Plc
Asia Pacific region held the top spot. Due to the growing environmental concerns, China has banned traditional fossil fuel-powered scooters from all of its main cities in an effort to cut pollution, which has increased the country's e-scooter sales. The usage of tools powered by lithium-ion batteries has expanded as a result of Asia Pacific's ascent to prominence as a hub for global manufacturing.
Based on type, a significant portion of the market was made up of airborne platform. This is because advanced and developed autopilot systems are available for aircraft, airliners, and air taxis. As the aviation industry has changed, flight routes have expanded. Long-haul flights need the pilots to constantly monitor and maintain control, which wears them out. Aircraft autopilot systems help the pilot retain accurate navigational control. As the demand for accurate and dependable navigation systems to permit safe transit by aerial vehicles has increased, so has the necessity for autopilot systems. International aviation law norms and rules stipulate that all aircraft and airlines with a capacity of more than twenty seats must be equipped with an autopilot system. The stringent application of international law has contributed in the expansion of the airborne component.
Based on application, a significant portion of the market was made up of commercial. This is brought on by an increase in the number of passengers flying and a surge in the demand for commodities being transported from developing nations like China and India. Airlines are private aircraft used for commercial air travel. High speed and reduced transit times, which enable the transportation of people and goods across longer distances in less time, are further elements influencing the segment's growth. Because of the enhanced level of security and decreased demand for bulky packing, the commercial aviation market is expanding. Other benefits of air travel are quick service and distribution protection. As demand for air freight develops, there will likely be a greater market demand for autopilot systems in commercial vehicles.
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The autopilot system market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
With a market revenue share of more than 38% in 2021, the North America region held the top spot. This can be due to the expanding aviation industry in the area. In the North American region, there are likely to be many aircraft and developments in autopilot technology. Technical developments are enabling the development of incredibly effective autopilot systems. The demand for flight safety has resulted in tremendous expansion for the North American autopilot systems business. The demand for accurate navigation and pilot aid during long-haul flights is expanding, which is driving the market for autopilot systems in the area. The development of the aviation and defence industries is driving the rising demand for autopilot systems. North America's autopilot system market is dominated by the United States due to the presence of established major market participants in the area.
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