Plain English Meaning
The collection of automatic systems that fly the airplane for the pilot. The pilot tells it what to do -- a heading to follow, an altitude to hold, a route to track -- and the system moves the controls (and sometimes the throttles) to make it happen.
Full Definition
An integrated set of aircraft systems that automatically control the airplane's flight path and, in some installations, engine power. It typically includes the autopilot (which moves the flight controls), the flight director (which displays guidance commands to the pilot), and on more advanced aircraft an (which manages ). The autoflight system follows -selected modes such as heading, altitude, , and .