DALLAS, TX -- According to the report "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", published by MarketsandMarkets, the Autopilot System Market is estimated to be $46.5 Million in 2014, and expected to reach $54.84 Million in 2019 at a CAGR of 2.79%. The major challenges for this particular market will be the complexity in system integration.
North America holds maximum share in this market. The emerging regions are Asia-Pacific, The Middle East, and Latin America. These regions are expected to grow rapidly, primarily due to the increasing number of aircrafts demand in these regions.
The autopilot systems are used specifically to reduce the human intervention and navigate effortlessly by monitoring and controlling the trajectory. Driving factors for this market include high fuel efficiency, safer air travelling, and technology advancement. The huge maintenance costs and the changing government regulations act as a limitation for the autopilot market. The small UAV comprising of expensive electronics is a significant market for the Autopilot System Market over the forecast period.
The market is segmented into three categories viz. by application, by technology, and by region. The global Autopilot System Market consists of applications in land, sea, subsea and air. The serial segment consists of manned vehicles such as aircrafts and unmanned vehicles such as UAV. The report covers The Autopilot System Market in the sea for surface ships as well as subsea including the submarine and unmanned underwater vehicles (ROV and AUV). The land segment focuses on the unmanned ground vehicles for the study.
The competitive analysis includes the market share of companies in the autopilot system market. The impact of drivers and restraints are also analyzed along with their impact on autopilot system market. Technology and industry trends are also highlighted, which will provide competitive market intelligence to utilize the business opportunities.
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