The worldwide autopilot systems market was anticipated to have generated around USD 46.5 million in 2014. It is predicted to collect an income of about USD 54.8 million in 2020. The market is projected to register a single digit (2.8 percent) CAGR through the forecast period. The significant development regions for the autopilot systems market are Europe and Asia Pacific. Both these regions are also expected to dominate the worldwide market in the future.
Nations in both these regions are likely to witness consistent growth in the years ahead. The United States is going to be a key market in the coming years. Some nations facing growing demand for enhanced autopilot systems with better amenities are anticipated to drive the demand for autopilot systems market through the forecast period. Higher demand for precision in navigation systems and escalating demand for reduced human involvement are reported to be driving the autopilot systems market in the near future.
Innovations in autopilot system technologies so that dangerous circumstances can be handled also drive further demand for the autopilot system market. Complications in incorporation and communication with other backup systems and software inaccuracies are some of the primary hindrances faced by this market. The high safeguarding prices and altering governmental policies also serve as some of the prominent obstacles for the autopilot systems market.
Autopilot systems are deemed a necessary part of flight systems and are utilized to control the plane without needing human intervention or efforts. Greater need for comfort and convenience has also caused innovations in the field of autopilot systems. This has led to increased demand for better and more effective autopilot systems, thereby steering further demand for state-of-the-art autopilot systems market.
The different categories into which this market is segmented, are platforms, applications and geographies. Rising demand for autopilot systems in various application sectors, like homeland safety, commercial and defense is also projected to steer the autopilot systems market further.