In-flight Autopilot Systems Market - Global Industry Forecast 2015 – 2021by Alina John Research Consultant
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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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.
Created on Dec 31st 1969 18:00. Viewed 0 times.