Autopilot Systems Market size is poised to remain positive through the period between 2022-2028, due to the growing focus on in-flight experience of passengers and implementation of aircraft automation technologies. The ever-rising demand for air travel is also a major reason pushing the market growth. In September 2021, the U.S. airlines recorded 62.9 million systemwide passengers, denoting a 132% rise from 2019 numbers, as per the data published by the Bureau of Transportation Statistics (BTS).
Genesys Aerosystems, Lockheed Martin, Navico Group (Altor Equity Partners), Comnav Marine, Rockwell Collins (United Technologies), Cobham PLC (Advent International), TMQ International, SJI (iFlight Technology Company Limited), Raymarine (FLIR Systems), and Cloud Cap Technology are some leading aircraft autopilot system vendors in the global competitive landscape. These companies are focused on developing innovative technologies in their latest product offerings.
Since flying for long periods of time can be extremely exhausting for a human team, autopilot systems are gaining widespread adoption among both commercial and military aircrafts. A pilot’s job is highly demanding because he deals with all major tasks related to handling, operating, monitoring, and navigating, at the same time ensuring that the flight arrives at the destination safely and on-time.
The high levels of exhaustion faced by the pilot and the team can potentially lead to dangerous situations. As the product is associated with minimal human intervention for flying a plane, digital transformation of the aviation industry is fueling the autopilot systems market growth. Being one of the most common automation systems across the aviation industry, these systems help pilots fly and control a plane smoothly and efficiently, bringing down the stress levels and improving efficiency simultaneously.
The commercial aircraft autopilot systems market share is projected to expand considerably by 2028. When a flight is controlled by an autopilot system, the risk of flaws and errors is minimized, ensuring optimal safety. This system also offers maximum braking while the flight is landing or aborting a take-off. By component, the GPS segment is likely to see considerable revenue through the assessment timeline, owing to the advent of compact, modular, aerodynamic, and lightweight designs.
Asia Pacific autopilot systems market demand is expected to record significant gains through 2028 as several airline companies have been dealing with pilot and other airline staff shortage issues. Reduced operating costs is a major benefit that airline service providers have been enjoying due to product deployment. With the growing number of full-service airlines and low-cost carriers flying to-and-fro between metropolitan cities of India, Australia, China, and Malaysia, product use is slated to increase at a noteworthy rate.
The COVID-19 pandemic has had a negative impact on the industry as several airlines businesses worldwide collapsed or went bankrupt due to the travel restrictions during 2020. From 2022 onward, the global aerospace industry has been recalibrating positive projections due to fresh investments in military aircrafts.
Retrofitting of existing planes is paving the way for electrification and automation, enhancing product uptake rates. In fact, estimates by investment bank UBS suggest that by 2035, the aviation industry will be nearly 25% hybrid or fully electric. As such, majority of airlines are focused on integrating latest technologies for higher efficiency, wherein autopilot systems play a crucial role.