Inertial Navigation System Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030

Publish Date: 2021-02-15


The Inertial Navigation System Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

 

Inertial navigation system is a navigation device that calculates position, orientation, and velocity of a moving object without external references. It consists of accelerometer, gyroscope, and internal computer for monitoring and calculation of object location, velocity, and orientation. The inertial navigation systems find applications across wide range of defense and commercial vessels and equipment such as ships, submarines, missiles, spacecrafts, and aircrafts. With increased investment in development of advanced communication systems for defense applications, the inertial navigation systems have grown more sophisticated to deliver improved accuracy and high reliability in mission critical applications. Increased investment in development of advanced aircrafts, strategic & tactile missiles, and rising miniaturization of electronic components is expected to drive the growth of the global inertial navigation system market during the forecast period. 

 

Increased demand for gyroscope from multiple applications to drive the growth of the market

The global inertial navigation system market is segmented on the basis of component, technology, grade, applications, and geography. Based on component, the global inertial navigation system market is segmented into accelerometers, gyroscopes, controllers, and others. The gyroscope segment contributed the largest share to the global inertial navigation system market in 2019 owing to increased demand fueled by precise motion sensing and navigational assistance delivered by gyroscopes. Increased adoption of gyroscope in three dimensional angular velocity measurement is anticipated to drive the growth of gyroscopes across the inertial navigation systems. The accelerometer segment is expected to witness prominent growth during the forecast period owing to rising demand from MRO services across the globe.

 

Rising number of unmanned aerial vehicles cross the globe to drive the growth of market

Based on application, the global inertial navigation system market is segmented into aircrafts, unmanned aerial vehicles, unmanned ground vehicles, unmanned marine vehicles, space launch vehicles, missiles, ships, and others. The space launch vehicles segment held the largest share of the global inertial navigation system in 2019 owing to increased investment in space exploration activities and growth in deployment of space vehicles across the globe. The space launch vehicles are equipped with highly accurate and reliable inertial navigation systems to ensure successful launch of space vehicles. This has fueled the growth of inertial navigation system across the space launch vehicles and is anticipated to drive the growth of the global inertial navigation system market during the forecast period. The application of inertial navigation system across unmanned aerial vehicle is expected to offer lucrative opportunities in coming years owing to rising demand for unmanned aerial vehicles across the commercial and military & defense applications.

 

Based on geography, the global inertial navigation system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America held the largest share of the global inertial navigation system market in 2019 and is anticipated to be a dominating region throughout the forecast period. The presence of leading commercial and defense aircraft manufacturers, increased investment in unmanned aerial vehicles, and presence of leading defense equipment manufacturers across the United States are the key attributes driving the growth of the North America inertial navigation system market. Asia Pacific is expected to be the fastest growing region during the forecast period owing to expansion of aviation industry across the major countries such as China, Japan, and India.

 

Major players active in the global inertial navigation system market include General Electric, Gladiator Technologies, Honeywell International Inc., Lord Microstrain (Parker Hannifin Corp), Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran, Teledyne Technologies Incorporated, Thales Group, Trimble Inc., and VectorNav Technologies, LLC.

 

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