The global fiber optic gyroscope market is a dynamic landscape within the sensor and navigation technology sector. Fiber optic gyroscopes, based on the sagnac effect, are crucial components in various applications such as defense, and industrial sectors. These gyros offer unparalleled accuracy in measuring angular velocity, enabling precise navigation and stabilization. As industries continue to seek cutting-edge navigation solutions, the global fiber optic gyroscope market remains pivotal in shaping the future of navigation and sensing technologies.
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Data Bridge Market Research analyses that the Global Fiber Optic Gyroscope Market was valued at USD 1,062.00 million in 2022, and is expected to reach USD 1,862.00 million by 2030, registering a CAGR of 3.2% during the forecast period of 2023-2030. Fiber optic gyroscopes excel in reliability and durability, surpassing traditional alternatives. This resilience in demanding environments positions them as preferred choices, intensifying market demand across various industries and applications.
Key Findings of the Study
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Aerospace advancements are expected to drive the market's growth rate
The burgeoning aerospace industry, encompassing both commercial aviation and space exploration, increasingly depends on exact navigation instruments for optimal performance. Fiber optic gyroscopes, renowned for their precision, have become integral to this growth. Their ability to provide accurate orientation data enhances navigation systems in aircraft and spacecraft, aligning with the industry's stringent requirements. As the aerospace sector continues to expand, the heightened demand for reliable and precise navigation solutions underscores the growing adoption of fiber optic gyroscopes.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Sensing Axis (1-Axis, 2-Axis and 3-Axis), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System and Attitude Heading Reference System), Application (Tactical Grade Applications, Remotely Operated Vehicle Guidance, Aeronautics and Aviation, Robotics, Defense and Homeland Security and Industrial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Honeywell International, Inc. (U.S.), Emcore Corporation (U.S.), Optolink LL (U.S.), C, KVH Industries, Inc. (U.S.), Al Cielo Inertial Solutions Ltd (U.S.), Nedaero Components, (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global fiber optic gyroscope market, is segmented on the basis of sensing axis, device and application.
- On the basis of the sensing axis, the fiber optic gyroscope market is classified into 1-axis, 2-axis, and 3-axis. 1- axis dominates the global fiber optic gyroscope market with 55.7% market share as it provides accurate and reliable sensing of rotations along a single plane, making it suitable for applications that primarily involve motion in one direction
1-axis segment of the sensing axis segment is anticipated to dominate the global fiber optic gyroscope market
1-axis segment dominate the global fiber optic gyroscope market has with 55.7% market share. This configuration is widely used in applications where the measurement of rotation or angular velocity is required around a specific axis. It can be used in various fields such as robotics, aerospace, and navigation systems, where monitoring and control of angular motion are essential.
- On the basis of device, the global fiber optic gyroscope market is classified into gyrocompass, inertial measurement unit, inertial navigation system, and attitude heading reference system
- On the basis of application, the global fiber optic gyroscope market is classified into tactical grade applications, remotely operated vehicle guidance, aeronautics and aviation, robotics, defense and homeland security, and industrial
Major Players
Data Bridge Market Research recognizes the following companies as the major global fiber optic gyroscope market players in global fiber optic gyroscope market are Honeywell International, Inc. (U.S.), Emcore Corporation (U.S.), Optolink LL (U.S.), C, KVH Industries, Inc. (U.S.), Al Cielo Inertial Solutions Ltd (U.S.), Nedaero Components, (U.S.)
Market Developments
- In 2022, Advanced Navigation introduced its latest product, the Boreas D70 digital fiber optic gyroscope. This cutting-edge momentum navigation device is designed for precise surveying, tracking, and navigation across diverse environments, including subsea, underwater, land, and air applications. The Boreas D70 stands out for its advanced fiber optic technology, providing accurate orientation data critical for applications where reliability and precision are paramount, showcasing Advanced Navigation's commitment to innovation in navigation solutions
- In 2020, KVH Industries, Inc. secured a substantial order exceeding USD 10 million from an international military customer for TACNAV tactical navigation systems. These systems, utilizing fiber optic gyro technology, ensure reliable inertial navigation in GPS-denied environments, offering crucial support during military missions
- In 2020, Apollo Micro Systems entered a Memorandum of Understanding with Cielo Inertial Solutions Ltd., fostering a strategic partnership to explore opportunities in marketing, sales, and production of Inertial Measurement Units (IMUs), aiming for mutual growth
- In 2020, Advanced Navigation raised US$13 million, led by CSIRO Innovation Fund, Brick & Mortar Ventures, and In-Q-Tel. This investment underscores strong investor confidence in Advanced Navigation, supporting the company's technological advancements and market expansion
Regional Analysis
Geographically, the countries covered in the global fiber optic gyroscope market report are
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global fiber optic gyroscope market during the forecast period 2023-2030
Asia-Pacific dominates the global fiber optic gyroscope market due to the surge in countries with a substantial demand for these gyroscopes. The region benefits from a growing population base and an increased focus on research and development activities. This trend is anticipated to contribute significantly to the continued expansion of the global fiber optic gyroscope market in the Asia-Pacific region throughout the forecast period from 2023 to 2030.
North America is estimated to be the fastest-growing region in the global fiber optic gyroscope market during the forecast period 2023-2030
North America is expected to dominate the global fiber optic gyroscope market, driven by substantial growth attributed to technological advancements. The region anticipates a surge in demand for cutting-edge technology compasses and turn coordinators, contributing to the market's expansion from 2023 to 2030. The continuous need for sophisticated navigation solutions in North America underscores the pivotal role fiber optic gyroscopes play in meeting the evolving requirements of diverse industries during this forecasted period.
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