According
to a new market report published by Transparency Market Research
“In-flight
Autopilot Systems Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021” the in-flight autopilot
systems market was valued at US$6.1 bn in 2014 and is estimated to
grow at a CAGR of 4.60% and reach US$8.4 bn by 2021.
An
autopilot system is composed of set of devices which is used to guide
and control an aircraft without any direct assistance from the pilot.
Earlier, the application of autopilot systems was only limited to
maintaining a constant heading and altitude but nowadays autopilot
systems are able to control every function of the flight from
take-off to landing. Increasing focus towards improving the
operational efficiency of the aircrafts is one of the primary factors
responsible for the growth of the in-flight autopilot systems market.
The use of autopilot systems in the aircrafts helps to lower the fuel
consumption and improve navigation accuracy. In addition, the demand
for in-flight autopilot systems market is expected to be high
considering the fact that it enhances the safety of the flight.
Moreover, growing need for automation of the aircrafts is also
contributing to the growth of the in-flight autopilot systems market.
These factors in overall are expected to positively impact the growth
of in-flight autopilot systems market during the forecast period from
2015 to 2021.
By
system type, in-flight autopilot systems market is categorized into
five segments; flight director system, attitude and heading reference
system, avionics system, flight control system and others. The flight
director system was the largest segment in terms of revenue in 2014.
By
aircraft type, the market is categorized into two types; rotary wing
aircrafts and fixed wing aircrafts. The fixed wing aircrafts category
held majority of the market. The demand for in-flight autopilot
systems is expected to be high in the fixed wing aircrafts segment
due to its increasing applications for enhancing the operational
efficiency and improving the safety parameters of the flights.
By
applications, the market is divided into three segments namely:
commercial aircraft, military aircraft and civilian aircraft. In
terms of revenue, the commercial aircraft was the largest segment
accounting for a share of more than 60% in 2014. Increasing number of
air passengers has positively impacted the demand for in-flight
autopilot systems used in the commercial aircrafts. In addition, the
demand for in-flight autopilot systems in the commercial aircrafts
segment is further augmented by the increasing focus of the airline
companies to automate the flights. These factors are expected to
positively impact the market in the coming years.
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A Sample Of This Report:
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Based
on geography, the global in-flight autopilot systems market has been
segmented into four regions; North America, Europe, Asia Pacific and
Rest of the World. North America held a share of more than 46% and
was the largest segment in terms of revenue in 2014. The increasing
need for accuracy in the navigation system is an important factor
which has resulted in increased demand for in-flight autopilot
systems in North America. In 2014, Europe held the second largest
market and accounted for a share more than 35% globally.
Some
of the major players in the market are Rockwell Collins, Inc. (U.S.),
Airware, Inc. (U.S.), Garmin Ltd. (Switzerland), Lockheed Martin
Corporation (U.S.), Honeywell International Inc. (U.S.), L-3
Communication Holding Inc., (U.S.), BAE Systems, Plc (U.S.), Cloud
Cap Technology Inc (U.S.), MicroPilot Inc., (Canada) and Genesys
Aerosystems Group, Inc., (U.S.) among others.
This
report offers a comprehensive analysis of the global in-flight
autopilot systems market along with the market values, in terms of
revenue (USD million) for the forecast period from 2015-2021. In
addition, the global market has been bifurcated on the basis of types
and applications. The cross sectional analysis of in-flight autopilot
systems market across four geographical regions has also been covered
under the purview of the report.
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