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Demand for autopilot systems is expected to increase with the need for monitoring and controlling trajectory to avoid human fatigue.
The global Autopilot System market is expected to show a substantial growth by 2020. The global Autopilot System market is estimated to be in 2014 and is expected reach $54.84 by 2020 registering a CAGR of 2.79%.
Asia-Pacific and Europe are expected to show a consistent level of growth during the forecast period. Countries in these regionsare the emerging markets for Autopilot System and will also show a reliable growth over the next few years.
The Autopilot System market is driven by the increasing need of aircrafts and Unmanned Aerial Vehicles (UAV) in the aerial applications. 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. The increase in fuel efficiency and reducing driver fatigue to scrutinize dynamic changes is expected to enhance the use of autopilot systems in future. Complexity in integration and communication with other support systems and any inaccuracies in the software are the major challenges faced by this market. The small UAV comprising of expensive electronics is a significant market for the Autopilot System market over the forecast period.
Demand for autopilot systems is expected to increase with the need for monitoring and controlling trajectory to avoid human fatigue. The evolution of the autopilot systems not only facilitates controlling the dynamic changes but also provides safer journey with minimum human intervention and other luxuries to the user and driver.
The operational complexity and the high maintenance and integration costs of the autopilot system will act as a limitation to autopilot market. The market is expected to see development of robust autopilot systems over the next five years. Autopilot systems are expected to be used widely for military activities such as surveillance and intelligence.
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.
With the increased capabilities and technological advancements in the Autopilot System; this market will see a significant growth in the land, air, sea and subsea applications.
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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