Autopilot System Market

Global Autopilot System Market Size (2024 to 2029)

The global autopilot system market is predicted to reach USD 7.20 billion in 2024 and USD 10.77 billion by 2029, growing at a CAGR of 8.4% during the forecast period.

North America, followed by Europe, has the highest market share of the Autopilot System market. But these developed regions will have very modest growth in the forecast period. Asia-Pacific (APAC) region, which comes in third concerning market share, has the highest average CAGR during the forecast period.  The autopilot system market is driven by the increasing need for aircraft, especially in the APAC region. Also, the growing demand for automation, higher fuel efficiency, safer cruises, and reduction in driver fatigue to scrutinize dynamic changes are expected to boost the use of autopilot systems over the forecast period. 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 dangerous situations to avoid accidents plays a significant role in driving the autopilot system market. Complexity in integration and communication with other support systems and inaccuracies in the software are the significant challenges faced by this market. The high maintenance costs and the changing government regulations act as limitations for the autopilot systems market.

REPORT COVERAGE:

The global autopilot system market has been segmented and sub-segmented based on the platform, component, application, and region.

Global Autopilot System Market - By Platform:

• Airborne

• Land-based

• Sea

• Subsea

Based on the platform, Airborne has the highest market share as of 2029 because of the already-developed autopilot system for aircraft. Cars (land-based) with autopilot mode are also on the increase, but the technology is still not well developed, and there are very few places where cars with autopilot mode are allowed to function.

Global Autopilot System Market - By Component:

• GPS

• Gyros

• Actuators

• Software

Based on the component, the software has the largest segment of the Autopilot System Market by type in 2018 and is projected to remain so in the forecast period. This is because as the autopilot technology becomes more and more advanced, it takes software to communicate between various components of the systems like GPS, Gyros, etc. So, the software has become an essential component in any Autopilot system.

Global Autopilot System Market - By Application:

• Commercial

• Defense & Security

Based on the application, the commercial segment has the largest market share as of 2018 and is projected to remain so during the forecast period. The increase in demand for commercial aircraft due to high demand, especially from emerging economies like India and China, is why the commercial segment leads the Autopilot System Market by application.

Global Autopilot System Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America Autopilot System Market commands the highest share, followed by Europe as of 2020. This is because of the large number of aircraft in the region coupled with advancements in the autopilot system in the automobile industry. The market growth rate of the Asia Pacific (APAC) region is the largest, fueled by the recent economic boom in the aviation industry in countries like China, India, Indonesia, etc. Other regions, such as Latin America and the Middle East & Africa, are projected to have a considerably slower growth rate than the APAC region in the Autopilot Systems market.

KEY MARKET PARTICIPANTS:

The major companies operating in the global autopilot system market include Rockwell Collins (U.S.), Honeywell (U.S.), Genesys Aerosystems (U.S.), Furuno (Japan), Garmin (Switzerland), Micropilot (Canada), Raymarine (U.S.), and DJI (China).