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Autopilot System Market dominated by the Asia-Pacific, and the European regions, with high investments in expensive electronics for better travel safety
The global Autopilot System market is estimated to be $46.5 million in 2014 and expected to reach $54.84 million in 2020. The global Autopilot market is expected to register a CAGR of 2.79%. The key growth regions will be Asia-Pacific, and the Europe. Countries in this region are expected to show a reliable level of growth. The U.S. will continue to be the prominent market for the Autopilot System.
Significant investments are made by the countries in the emerging regions due to the increasing demand for improved autopilot systems with greater facilities in the existing systems. 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 perilous situations to avoid accidents will fuel the autopilot system market over the next five years.
Complexity in integration and communication with other support systems and inaccuracies in the software are the major challenges faced by this market. The huge maintenance costs and the changing government regulations act as a limitation for the autopilot market.
The increased capabilities of the 3 axes autopilot systems with technological advancements will certainly drive the Autopilot System market. Better system compatibility and communication between the supporting systems with the Autopilot System will enhance its application in land, sea, subsea, and air. The multiple complex electronic subsystems attached to the Autopilots enable them to perform complex trajectory monitoring and controlling operations. The DIY (Do It Yourself) systems prove to be a great opportunity in the small UAV market over the next 5 years.
Raymarine (U.S.), Furuno (Japan), Garmin (Switzerland), TMQ (Australia), Simrad (U.S.), Cobham (U.K.) will be the market leaders that occupy a significant market share for the Autopilot System market.
Autopilot System Market by Application (Airborne, Land, Sea, Subsea), by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, Africa) - Forecasts & Analysis to 2014 - 2019
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