Inertial Navigation System Market worth $12.26 billion by 2022 - PowerPoint PPT Presentation

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Inertial Navigation System Market worth $12.26 billion by 2022

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The inertial navigation system market is projected to grow from an estimated USD 9.54 billion in 2017 to USD 12.26 billion by 2022, at a CAGR of 5.15% during the forecast period. – PowerPoint PPT presentation

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Title: Inertial Navigation System Market worth $12.26 billion by 2022


1
According to the new market research report
"Inertial Navigation System Market by Grade
(Marine, Navigation, Tactical, Space,
Commercial), Technology (Mechanical, Ring Laser,
Fiber Optic, MEMs), Application
(Aircraft, Missile, Marine, UAV, UGV, UMV),
Component, and Region - Global Forecast to
2022", The inertial navigation system market is
projected to grow from an estimated USD 9.54
billion in 2017 to USD 12.26 billion by
2022, at a CAGR of 5.15 during the forecast
period. Increase in aircraft orders, increased
space research leading to the use of a greater
number of launch vehicles, and increase in
satellite launches are some of the key factors
driving the inertial navigation system
market. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id154810661 T
he space launch vehicle segment in the inertial
navigation system market is estimated to be the
fastest-growing market during the forecast
period Based on application, the space launch
vehicle segment in the inertial navigation system
market is estimated to be the fastest-growing
segment in the inertial navigation system market
during the forecast period. This growth is
attributed to an increase in satellite launches
and increasing space research and exploration
activities. Also, increased investments in
satellite manufacturing and associated satellite
launches are contributing to the high demand for
space inertial navigation systems The navigation
grade segment in the inertial navigation system
market is projected to grow at the highest CAGR
from 2017 to 2022 Based on grade, the navigation
grade segment is projected to grow at the highest
CAGR during the forecast period. Increase in
aircraft orders is one of the key factors driving
the inertial navigation system market. According
to the Boeing Current Market Outlook, as the
commercial aircraft market is growing, globally,
it is expected that these systems have a high
growth potential in the commercial sector. The
MEMS segment in the inertial navigation system
market is projected to grow at a higher CAGR from
2017 to 2022
2
Based on technology, the MEMS segment in the
inertial navigation system market is projected
to grow at the highest CAGR during the forecast
period. The growth can be attributed to
technological advancements in MEMS-based INS that
are resulting in its increased applicability in
small aircraft and unmanned applications. The
ongoing RD activities in the field of MEMS
technology are expected to improve the accuracy
and reliability of these systems further. The
MEMS inertial navigation systems are expected to
replace the fiber optics gyro inertial navigation
systems in the tactical grade performance
applications in the coming years. Asia Pacific
is expected to be the fastest-growing market for
the inertial navigation system during the
forecast period Asia Pacific is expected to be
the fastest-growing market during the forecast
period. The growth is largely due to an increase
in defense budgets of emerging countries such as
India and China the backing provided by these
countries to develop homegrown technologies for
the manufacture of missiles, fighter aircraft,
and UAVs and rise in commercial aircraft
manufacturers in the region. The aviation
industry in the Asia Pacific region is growing
at a significant pace mainly due to the
increasing air passenger traffic in the region.
Moreover, the increase in disposable income of
the middle-class population lead to growth in
air passenger traffic of the Asia Pacific region
have resulted in the growing demand for new
aircraft deliveries in the region, which, in
turn, is boosting the demand for inertial
navigation systems. Key Market Players Major
players operating in the inertial navigation
system market include Honeywell International
Inc. (US), Northrop Grumman Corporation (US),
Safran Electronics Defense (France), Rockwell
Collins, Inc. (US), and Thales Group
(France). Dont miss out on business
opportunities in Inertial Navigation System
Market. Speak to our analyst and gain crucial
industry insights that will help your business
grow. About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
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