Global Inertial Navigation System Market, By Application (Aircraft, Missiles, Space Launch Vehicles, Marine, Military Armoured Vehicles, Unmanned aerial Vehicles, Unmanned Ground Vehicles and Unmanned Marine Vehicles), Technology (Mechanical Gyro, Ring Laser Gyro, Fibre Optics Gyro, MEMS and Others), Grade (Marine Grade, Navigation Grade, Tactical Grade, Space Grade and Commercial Grade), Component (Accelerometers, Gyroscopes, Algorithms and Processors and Wireless), Country (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, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Inertial Navigation System Market
Data Bridge Market Research analyses that the inertial navigation system market would exhibit a CAGR of 5.97% for the forecast period. Rising application of inertial navigation system for a wide range of applications such as aircraft, missiles, space launch vehicles, marine, military armoured vehicles, unmanned aerial vehicles, unmanned ground vehicle, and unmanned marine vehicles, increasing focus of the manufacturers towards technological advancements and rise in need for highly accurate navigation to ensure safety are the two major factors attributable to the growth of inertial navigation system market. This signifies that, the global inertial navigation system market would stand tall by USD 17.36 billion by the year 2028.
An inertial navigation system is a computer based mechanism that is used to calculate the acceleration, velocity, gravitational force, and direction of a moving object. This, in turn makes it suitable for a wide range of applications.
Increased availability of miniaturized components at affordable prices has resulted in growth in the market value. Increase in the application of inertial navigation systems in new missiles and aircrafts will also create lucrative growth opportunities for the market. Increased focus on the development of driverless commercial vehicles coupled with increased industrialization will also foster market growth. Increased focus on the extensive research and development proficiencies by the manufacturers will also propel the market growth rate.
However, declining budgets to strengthen the defense sector in the developed economies will pose a major challenge to the market growth rate. Also, high costs associated with inertial navigation systems will hamper the market growth rate. Also, operational complexity associated with inertial navigation systems will derail the market growth rate.
This global inertial navigation system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on inertial navigation system market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Inertial Navigation System Market Scope and Market Size
The global inertial navigation system market is segmented on the basis of application, technology, material, grade, and component. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with a valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of application, the inertial navigation system market has been segmented into aircraft, missiles, space launch vehicles, marine, military armoured vehicles, unmanned aerial vehicles, unmanned ground vehicles, and unmanned marine vehicles. Aircraft segment is sub-segmented into civil and military. Missiles segment is sub-segmented into civil helicopters and military helicopters. Marine segment is sub-segmented into merchant ships and naval ships. Unmanned aerial vehicles segment is sub-segmented into consumer, enterprise, and naval ships. Unmanned ground vehicles segment is sub-segmented into commercial and military. Unmanned marine vehicles segment is sub-segmented into ROV, AUV, and USV.
- On the basis of technology, the inertial navigation system market has been segmented into mechanical gyro, ring laser gyro, fibre optics gyro, MEMS, and others.
- On the basis of grade, the inertial navigation system market has been segmented into marine grade, navigation grade, tactical grade, space grade, and commercial grade.
- On the basis of component, the inertial navigation system market has been segmented into accelerometers, gyroscopes, algorithms and processors, and wireless.
Global Inertial Navigation System Market Country Level Analysis
The global inertial navigation system market is analysed and market size insights and trends are provided by country, application, technology, material, grade and component as referenced above.
The countries covered in the inertial navigation system market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the inertial navigation system market and will continue to flourish its trend of dominance during the forecast period owing to the growing adoption of remotely operated vehicles for commercial and military applications. Asia-Pacific on the other hand, is projected to score the highest CAGR for this period owing to the growth and expansion of defense and aviation industry.
The country section of the inertial navigation system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Inertial Navigation System Market Share Analysis
The inertial navigation system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the inertial navigation system market.
The major players covered in the inertial navigation system market report are Honeywell International Inc., Thales Group, Northrop Grumman., Safran, Raytheon Technologies Corporation, GENERAL ELECTRIC COMPANY, Collins Aerospace, Teledyne Technologies, VectorNav Technologies, LLC, Parker-Hannifin Corporation, Trimble Inc., Gladiator Technologies, iXblue SAS, INERTIAL SENSE, Tersus GNSS Inc., KVH Industries, Inc., EMCORE Corporation., L3Harris Technologies, Inc. and TASC Systems among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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