The Auto Eject Module, simply put, is a cockpit module that doubles as an escape pod. Assuming the craft has a life support program the occupant(s) should be given a fair time before the supplies run out, otherwise it's up to the space suits and any additional life support packs carried onboard.
This is strictly a HS:1-2 item intended for fighter craft and can accomodate no more than two beings. The design stems from the need fo fighter crew survival, as these small craft can not sustain much damage yet they are essential to any fleet operation. Cost is 30,000Cr (same as an escape pod), and the chance of escaping a destroyed craft is a base 95% minus 1% for each hull point below 0. The AEM broadcasts a signal beacon for friendly craft to detect them as they are too small to immediately show up on radar.
With the advent of the AEM, fighter crews tend to stick around longer as they gain more experience rather than moving up to larger craft. Squadrons of 2nd and 3rd level pilots are not uncommon, and the prowess they display on the battlefield is unparalleled.