Inertial Navigation System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Growing demand of vehicle navigation as well as rising number of accurate position systems in various areas, particularly in aircraft sector is driving the inertial navigation system market.
Inertial Navigation System Market is valued at USD 8.09 Billion in 2018 and expected to reach USD 12.67 Billion by 2025 with the CAGR of 6.63% over the forecast period.
Inertial navigation system is an electronic system that continuously identify the position, velocity, and acceleration of moving objects without taking external measurements. An inertial navigation system consists of two-distinct portions; first is inertial measurement unit (IMU) and the second part is navigation computer where, navigation computer takes measurements with the help of IMU and uses them to calculate the relative velocity, orientation and position of the INS. Earlier, inertial navigation systems were originally established for rockets. Inertial navigation system is used widely for submarines, ships, aircraft, guided missiles and spacecraft as well as in civil applications such as robotics, surveying underground well bores.
Global inertial navigation system market report is segmented on the basis of product, technology type, application, component and by regional & country level. Based upon product, global inertial navigation system market is segmented mainly into navigation, tactical, commercial and marine. On the basis of technology, the market is classified into micro electro-mechanical systems, fiber optic gyro, ring laser gyro, mechanical and vibrating gyro. Furthermore, based upon application, inertial navigation system market is segmented into naval, airborne, commercial and land. As per component, market is classified into accelerometers, gyroscopes, algorithms & processors and wireless.
The regions covered in this inertial navigation system market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Inertial Navigation System market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
inertial navigation system market analysis
Some major key players for global Inertial Navigation System market are
Increasing demand for accurate navigational system in various applications is expected to fuel the Inertial Navigation System Market growth.
Inertial navigation system is witnessing a lucrative growth owing to the requirement of obtaining accurate positioning systems in many areas especially underwater vehicles, aircraft, spacecraft, submarines and ships to determine exact measurements. Globally, many countries around the world, especially Iraq and Afghanistan are predicted to have unmanned aircraft systems (UAS) for their military purpose driving annual global spending on defense drones by 36% in the coming years. Consequently, development of computer technology and wireless devices, unmanned aerial vehicle (UAV) is considered as an important tool in civil, military and other fields, thus inertial navigation system helps with an objective to implement the task for unmanned vehicles. Additionally, 19,000 drones are in the use now by the U.S. army, air force, marines. Recent advancements in the construction of MEMS devices enable to produce inertial navigation systems, as these advancements have used in a wide range of applications. In addition, MEMS-based inertial navigation systems are providing requirements to meet the growing demands of small size, lower cost and advanced navigation solutions for land vehicles. However, inertial navigation system is relatively expensive technology as well as susceptible to vibration & thermal fluctuation which may cause errors in information data and can hinder the growth of this market.
North America holds the largest share of this the market due to the government initiatives. The Federal Aviation Administration of the United States supplements the making a continuous up gradated systems which helps product manufacturers to develop an inertial navigation systems as well as the growing unmanned aerial vehicle (UAV) in response with military spending are some factors responsible for wide acceptance of these systems. It is estimated that the U.S. produced 1,179 UAVs worth USD 1.8 billion in 2017 to 2,530 drones in2026. Europe is also expecetd to show a significant growth in the inertial navigation system owing to the presence of widespread automakers are focusing on to meet the customers’ surge demands where high performance of vehicles will be expected in terms of accuracy coupled with computer solutions for the navigational purpose.
inertial navigation system market size
Inertial Navigation System Market Revenue (USD Billion) Analysis by Regional and Global, 2019-2025
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA