According to Stratistics MRC, the “Global Inertial Navigation System (INS) Market” is accounted for $9.65 billion in 2017 and is expected to reach $18.36 billion by 2026 growing at a CAGR of 7.4% during the forecast period. Factors such as rising demand for missiles due to geopolitical variability and altering nature of warfare, growing demand for accuracy in navigation and increasing demand for unmanned underwater vehicles (UUVs) are fueling the market growth. However, decrease in defense budgets of improved countries and functional difficulty associated with high-end INS is hindering the growth of the market. Future demand for expansion of commercial driverless vehicles, and technical improvements in MEMS-based INS provides ample of opportunities for market growth.
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An Inertial Navigation System (INS) is a navigation system that computes velocity, gravitational force and directional orientation of a poignant object. It is a computer-based device that primarily includes motion sensors, accelerometers and gyroscopes. The gyroscope measures the angular velocity of an object such as drones, ships and aircraft using sensors, whereas the accelerometer measures the degree of change in their speed. Based on these derivations, the object’s route and relative position are projected. The INS finds wide applicability in the production of guided military weapons and commercially produced games, cameras, computers and medical appliances.
Opportunity: Development of commercial driverless vehicles
Driverless vehicles are robotic vehicles competent of traveling to destinations without human interference. Advancements in sensor technology joined with breakthroughs in machine learning are pouring the demand for commercial driverless vehicles. Companies such as Ford, Tesla, Google, and BMW are energetically involved in the expansion of driverless technology for commercial vehicles. For instance, Alphabet, the parent company of Google, formed a new driverless car company recognized as Waymo LLC. Ford and BMW forecast that fully autonomous commercial vehicles are projected to be launched in the market. Numerous key players in the automotive industry are investing in the production of driverless vehicles.
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Driver: Increased demand for accuracy in navigation
The need for precise location details with elevation and compass reading of military equipment is of paramount significance in the present warfare scenario. These details are necessary for the effectual planning and implementation of targets. Inertial navigation systems (INS) encompass a cluster of sensors that comprise accelerometers and gyroscopes, which propose details with respect to the position, orientation, and speed of a moving body. The ability of inertial navigation systems to give precise location details have led to the augmented applicability of these systems in the defense sector. Hence, the growing firepower of militaries worldwide and the increasing demand for correctness in navigation have contributed to the development of the inertial navigation system market.
On the basis of product, the gyroscopes segment is anticipated to grow at the significant rate during the forecast period, due to their capabilities of addressing high level motion sensing and navigational assistance. The emergence of well-organized, monetary and compact gyroscopes is probable to enlarge the demand for gyroscopes in the inertial navigation system (INS) market. Moreover, gyroscopes can gauge the angular velocity in three dimensions. The frequent variants of gyroscopes used in inertial navigation systems comprise micro-electro-mechanical system (MEMS), fiber optics gyros (FOGs), mechanical gyros, vibrating gyros, ring laser gyros (RLGs), and hemispherical resonator gyros (HTGs).
By geography, Asia Pacific is projected to have considerable market growth during the forecast period, owing to an increase in defense budgets of emerging countries such as India & China, the assistance provided by these countries to enlarge home-based technologies for the produce of missiles, fighter aircraft, and UAVs; and increase in commercial aircraft manufacturers in the region. The aviation industry in the Asia Pacific region is rising at a important pace primarily due to the growing air passenger traffic in the region. Furthermore, the augment in disposable income of the middle-class inhabitants lead to enlargement in air passenger traffic of the Asia Pacific region have resulted in the rising demand for new aircraft deliveries, which, in turn, is boosting the demand for inertial navigation systems.
Some of the key players in Inertial Navigation System (INS) market include Thales Group, General Electric Company, Honeywell International Inc., Safran Electronics & Defense, Rockwell Collins, Inc., Lord Microstrain, Trimble Navigation Ltd., Northrop Grumman Corporation, Gladiator Technologies, Inc, Teledyne Technologies, Inc., The Raytheon Company, Vectornav Technologies, LLC, Atlantic Inertial Systems, KVH Industries and Systron Donner Inertial.
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Northrop Grumman Corporation: Feb, 2018: Northrop Grumman launched first open architecture test bed to support DARPA’s OFFensive Swarm-Enabled Tactics (OFFSET) program and is seeking participants to create and test their own swarm-based tactics on the platform. As part of the DARPA OFFSET program, Northrop Grumman serves as a swarm systems integrator, tasked with designing, developing and deploying a swarm-system, open-based architecture for swarm technologies in both a game-based environment and physical test bed. The goal of the OFFSET program is to provide small-unit infantry forces with small unmanned aircraft systems (UASs) or small unmanned ground systems (UGSs) in swarms of 250 or more robots that support diverse missions in complex urban environments. OFFSET seeks to advance the integration of modern swarm tactics and leverage emerging technologies in swarm autonomy and human-swarm teaming.
Atlantic Inertial Systems: Dec, 2009: AIS Global Holdings LLC (AIS), known as Atlantic Inertial Systems has acquired by Goodrich Corporation. AIS is a leading provider of mission-critical guidance, stabilization and navigation products and systems for the military and defense market. J.F. Lehman & Company is a private equity investment firm that focuses exclusively on acquiring middle market companies in the defense, aerospace and maritime industries.
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