Inertial Navigation System Market
PUBLISHED: 2023 ID: SMRC23189
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Inertial Navigation System Market

Inertial Navigation System Market Forecasts to 2028 - Global Analysis By Component (Algorithms & Processors, Accelerometers and Other Components), Grade (Navigation Grade and Space Grade), Technologies (Fiber Optics Gyro, Mechanical Gyro and Other Technologies), Application and By Geography

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5.0 (52 reviews)
Published: 2023 ID: SMRC23189

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $13.47 BN

Projected Year Value (2028)

US $20.39  BN

CAGR (2022 - 2028)

7.15%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Inertial Navigation System Market is accounted for $13.47 billion in 2022 and is expected to reach $20.39 billion by 2028 growing at a CAGR of 7.15% during the forecast period. A navigation system that uses locally accessible inertial sensors and dead shaking techniques to identify an object's direction, speed, position, and orientation is known as an inertial navigation system. A global navigation satellite system (GNSS) receiver, an inertial measurement unit, or other motion-detecting apparatus make up this system. These elements work together to pinpoint an object's precise data. The INS also includes a computing component that analyses and keeps track of the measured data obtained from inertial sensors.

According to the Association for Unmanned Vehicle Systems International, the US military had proposed spending USD 9.6 billion in 2019 (which was an increase of 28% over the previous year) on unmanned vehicle systems.



Market Dynamics:


Driver:

Increased demand for accuracy in navigation

In the current state of warfare, it is crucial to know the precise location, altitude, and direction of military equipment. These details are necessary for efficient target planning and implementation. Accelerometers and gyroscopes are two examples of the sensors used in inertial navigation systems, which provide information about the position, orientation, and speed of a moving body. Because inertial navigation systems can offer precise location information, their use in the defence industry has expanded. Thus, the market for inertial navigation systems has expanded as a result of the expanding firepower of military throughout the world and the increased requirement for navigational accuracy.

Restraint:

Decline in defense budgets of developed countries

Defence ships, guided munitions, military and special purpose helicopters, fighter aircraft, submarines, short, medium, and long-range missiles, and inertial navigation systems are just a few examples of the many applications for these systems. The decrease in defence spending in affluent nations like Sweden, Switzerland, Finland, Brussels, and Canada has had an impact on the market for inertial navigation systems by reducing the demand for these systems. For instance, the Canadian government opted to withhold almost USD 4 billion that was allocated for the acquisition of new defence equipment in 2016 in order to cut its defence spending to less than 1% of its GDP. As a result, a reduction in the purchase of defence hardware as a result of inadequate defence spending is holding back the market for inertial navigation systems.

Opportunity:

Development of commercial driverless vehicles

Robotic vehicles that can reach their destinations without human assistance are known as autonomous vehicles. The demand for commercial autonomous vehicles is being driven by advances in machine learning and sensor technology. Driverless technology for commercial vehicles is currently being developed by businesses including Tesla, Google, Ford, and BMW. For instance, Google's parent company Alphabet created the autonomous vehicle business Waymo LLC in 2016. Fully autonomous commercial vehicles are expected to hit the market by 2022, according to Ford and BMW. A number of significant businesses in the automotive sector are funding the development of autonomous vehicles.

Threat:

Error Propagation

The operation of stable platform inertial navigation systems depends on a variety of mechanical components coupled to one another at various joints. To prevent any form of measuring inaccuracy, these joints must be frictionless. These systems' performance is hampered as a result of the friction error that develops with extended use and system wear and tear. A few computing errors are introduced by noise and drifts in addition to friction. For instance, MEMS inertial sensors contain incredibly small mechanical parts that weigh just a few micrograms. Due to their light weight, these components can fail to respond to slight alterations in orientation. Therefore, measurement error is caused by friction and drifts, which propagates over time.

Covid-19 Impact

The COVID 19 pandemic had an effect on the inertial navigation system market, just like it did on every other industrial sector. Market's size and scope decreased as a result of the epidemic and ensuing lockdown's detrimental effects on the travel industry. As a result, the market for inertial navigation systems grew less quickly during the pandemic. But as the manufacture of aircraft and missiles for various purposes picks up steam in the post-pandemic age, the market will likewise experience a comeback. The use of inertial navigation system aircraft in military and navy operations will be expanded. Strong trends of market expansion will also be brought about by the implementation of an improved ship inertial navigation system. Thus, there would be an increase in the anticipated period.

The gyroscopes segment is expected to be the largest during the forecast period

The gyroscopes segment is estimated to have a lucrative growth, due to the rise in the use of small, inexpensive gyroscopes, which has improved the functionality and performance of these kinds of navigation systems. The capacity of gyroscopes to compute angular velocity in three dimensions will also aid in the development of this market. There are several different types of gyroscopes, including mechanical gyros, hemispherical resonator gyros (HRGs), ring laser gyros (RLGs), fibre optic gyros (FOGs), micro electro mechanical systems (MEMS), and vibrating gyros.

The space launch vehicles segment is expected to have the highest CAGR during the forecast period

The space launch vehicles segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the demand for extremely accurate and dependable inertial navigation systems to assure the vehicle is expected to rise with the rise in the deployment of space launch vehicles, such as tiny satellites, around the globe. A launch vehicle is a rocket used in spaceflights to carry payloads into space, such as satellites and spacecraft, from the surface of the planet. Space launch vehicles range in size from a modest lift launch vehicle to a super-heavy lift vehicle, depending on their capabilities.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the expanding investments made in the defence industry by developing nations like China, India, and others. Defence spending and the acquisition of cutting-edge remotely operated vehicles for military use have grown in China and India.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. The United States is the largest producer and supplier of robotic cars globally, which will help the business expand throughout the area. Moreover, it is predicted that the market in North America would rise due to the expanding use of remotely operated vehicles in both commercial and military applications. Furthermore, the region's market expansion would be aided by the presence of major competitors and OEMs.



Key players in the market

Some of the key players profiled in the Inertial Navigation System Market include iXblue SAS, Thales Group, Raytheon Technologies Corporation, General Electric Company, Gladiator Technologies, Inc., Trimble Navigation Ltd., Parker-Hannifin Corporation, VectorNav Technologies, LLC, Teledyne Technologies, Inc., Safran, Northrop Grumman Corporation, Honeywell International Inc, KVH Industries, Systron Donner Inertial, TASC Gmbh and ETLG Aerosystems.

Key Developments:

In September 2017, General Dynamics Land Systems, UK awarded a contract to Honeywell, Inc. for the procurement of inertial land navigation systems for its AJAX armored fighting vehicles.

In May 2017, Northrop Grumman Corporation received a contract from the US Air Force to provide hardware and software architecture design for embedded GPS/INS modernization in legacy aircraft. This design and technology offered by Northrop Grumman Corporation is compatible with current systems on legacy aircraft used by the Air Force, allowing ease of integration and rapid adoption of new capabilities

Components Covered:
• Algorithms & Processors
• Accelerometers
• Wireless
• Gyroscopes
• Other Components

Grades Covered:
• Navigation Grade
• Space Grade
• Marine Grade
• Commercial Grade
• Tactical Grade

Technologies Covered:
• Fiber Optics Gyro
• Mechanical Gyro
• Ring Laser Gyro
• MEMS
• Other Technologies

Applications Covered:
• Building Missiles
• Aircraft
• Marine
• Unmanned Aerial Vehicles
• Military Armored Vehicles
• Unmanned Ground Vehicles
• Space Launch Vehicles
• Unmanned Marine Vehicles
• General Aviation
• Commercial Passenger Aircraft (Cargo Aircrafts)
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Inertial Navigation System Market, By Component
5.1 Introduction
5.2 Algorithms & Processors
5.3 Accelerometers
5.4 Wireless
5.5 Gyroscopes
5.6 Other Components

6 Global Inertial Navigation System Market, By Grade
6.1 Introduction
6.2 Navigation Grade
6.3 Space Grade
6.4 Marine Grade
6.5 Commercial Grade
6.6 Tactical Grade

7 Global Inertial Navigation System Market, By Technology
7.1 Introduction
7.2 Fiber Optics Gyro
7.3 Mechanical Gyro
7.4 Ring Laser Gyro
7.5 MEMS
7.6 Other Technologies

8 Global Inertial Navigation System Market, By Application
8.1 Introduction
8.2 Missiles
8.2.1 Civil Helicopters
8.2.2 Military Helicopters
8.3 Aircraft
8.3.1 Civil Aircraft
8.4 Marine
8.4.1 Marchant Ships
8.4.2 Naval Ships
8.5 Unmanned Aerial Vehicles
8.5.1 Consumer
8.5.2 Enterprise
8.5.3 Naval Ships
8.6 Military Armored Vehicles
8.6.1 Fighter Jets
8.6.2 Military Helicopters
8.6.3 Transport Carriers
8.7 Unmanned Ground Vehicles
8.7.1 Commercial Unmanned Ground Vehicles
8.7.2 Military Unmanned Ground Vehicles
8.8 Space Launch Vehicles
8.9 Unmanned Marine Vehicles
8.9.1 Remotely Operated Vehicle (ROV)
8.9.2 Autonomous Underwater Vehicle (AUV)
8.9.3 Unmanned Surface Vehicle (USV)
8.10 General Aviation
8.11 Commercial Passenger Aircraft (Cargo Aircrafts)
8.12 Other Applications

9 Global Inertial Navigation System Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 iXblue SAS
11.2 Thales Group
11.3 Raytheon Technologies Corporation
11.4 General Electric Company
11.5 Gladiator Technologies, Inc.
11.6 Trimble Navigation Ltd.
11.7 Parker-Hannifin Corporation
11.8 VectorNav Technologies, LLC
11.9 Teledyne Technologies, Inc.
11.10 Safran
11.11 Northrop Grumman Corporation
11.12 Honeywell International Inc
11.13 KVH Industries
11.14 Systron Donner Inertial
11.15 TASC Gmbh
11.16 ETLG Aerosystems

List of Tables
1 Global Inertial Navigation System Market Outlook, By Region (2020-2028) ($MN)
2 Global Inertial Navigation System Market Outlook, By Component (2020-2028) ($MN)
3 Global Inertial Navigation System Market Outlook, By Algorithms & Processors (2020-2028) ($MN)
4 Global Inertial Navigation System Market Outlook, By Accelerometers (2020-2028) ($MN)
5 Global Inertial Navigation System Market Outlook, By Wireless (2020-2028) ($MN)
6 Global Inertial Navigation System Market Outlook, By Gyroscopes (2020-2028) ($MN)
7 Global Inertial Navigation System Market Outlook, By Other Components (2020-2028) ($MN)
8 Global Inertial Navigation System Market Outlook, By Grade (2020-2028) ($MN)
9 Global Inertial Navigation System Market Outlook, By Navigation Grade (2020-2028) ($MN)
10 Global Inertial Navigation System Market Outlook, By Space Grade (2020-2028) ($MN)
11 Global Inertial Navigation System Market Outlook, By Marine Grade (2020-2028) ($MN)
12 Global Inertial Navigation System Market Outlook, By Commercial Grade (2020-2028) ($MN)
13 Global Inertial Navigation System Market Outlook, By Tactical Grade (2020-2028) ($MN)
14 Global Inertial Navigation System Market Outlook, By Technology (2020-2028) ($MN)
15 Global Inertial Navigation System Market Outlook, By Fiber Optics Gyro (2020-2028) ($MN)
16 Global Inertial Navigation System Market Outlook, By Mechanical Gyro (2020-2028) ($MN)
17 Global Inertial Navigation System Market Outlook, By Ring Laser Gyro (2020-2028) ($MN)
18 Global Inertial Navigation System Market Outlook, By MEMS (2020-2028) ($MN)
19 Global Inertial Navigation System Market Outlook, By Other Technologies (2020-2028) ($MN)
20 Global Inertial Navigation System Market Outlook, By Application (2020-2028) ($MN)
21 Global Inertial Navigation System Market Outlook, By Missiles (2020-2028) ($MN)
22 Global Inertial Navigation System Market Outlook, By Civil Helicopters (2020-2028) ($MN)
23 Global Inertial Navigation System Market Outlook, By Military Helicopters (2020-2028) ($MN)
24 Global Inertial Navigation System Market Outlook, By Aircraft (2020-2028) ($MN)
25 Global Inertial Navigation System Market Outlook, By Civil Aircraft (2020-2028) ($MN)
26 Global Inertial Navigation System Market Outlook, By Marine (2020-2028) ($MN)
27 Global Inertial Navigation System Market Outlook, By Marchant Ships (2020-2028) ($MN)
28 Global Inertial Navigation System Market Outlook, By Naval Ships (2020-2028) ($MN)
29 Global Inertial Navigation System Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
30 Global Inertial Navigation System Market Outlook, By Consumer (2020-2028) ($MN)
31 Global Inertial Navigation System Market Outlook, By Enterprise (2020-2028) ($MN)
32 Global Inertial Navigation System Market Outlook, By Naval Ships (2020-2028) ($MN)
33 Global Inertial Navigation System Market Outlook, By Military Armored Vehicles (2020-2028) ($MN)
34 Global Inertial Navigation System Market Outlook, By Fighter Jets (2020-2028) ($MN)
35 Global Inertial Navigation System Market Outlook, By Military Helicopters (2020-2028) ($MN)
36 Global Inertial Navigation System Market Outlook, By Transport Carriers (2020-2028) ($MN)
37 Global Inertial Navigation System Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
38 Global Inertial Navigation System Market Outlook, By Commercial Unmanned Ground Vehicles (2020-2028) ($MN)
39 Global Inertial Navigation System Market Outlook, By Military Unmanned Ground Vehicles (2020-2028) ($MN)
40 Global Inertial Navigation System Market Outlook, By Space Launch Vehicles (2020-2028) ($MN)
41 Global Inertial Navigation System Market Outlook, By Unmanned Marine Vehicles (2020-2028) ($MN)
42 Global Inertial Navigation System Market Outlook, By Remotely Operated Vehicle (ROV) (2020-2028) ($MN)
43 Global Inertial Navigation System Market Outlook, By Autonomous Underwater Vehicle (AUV) (2020-2028) ($MN)
44 Global Inertial Navigation System Market Outlook, By Unmanned Surface Vehicle (USV) (2020-2028) ($MN)
45 Global Inertial Navigation System Market Outlook, By General Aviation (2020-2028) ($MN)
46 Global Inertial Navigation System Market Outlook, By Commercial Passenger Aircraft (Cargo Aircrafts) (2020-2028) ($MN)
47 Global Inertial Navigation System Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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