Inertial Navigation System Market Outlook and Industry Forecast to 2022

1
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.
This growth can be attributed to factors, such
as rise in need for highly accurate navigation
to ensure safety, rise in demand for new
aircraft and missiles, and availability of
miniaturized components at affordable
prices. Download PDF Brochure _at_ https//www.market
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sed on component, the gyroscopes segment is
estimated to account for the largest share in
the inertial navigation system market during the
forecast period Based on component, the
gyroscopes segment is estimated to account for
the largest share of the overall market in 2017.
The emergence of efficient, economic and compact
gyroscopes is estimated to increase the demand
for gyroscopes in the inertial navigation system
market. The growth of gyroscopes can be
attributed to their capabilities of addressing
high level motion sensing and navigational
assistance. Furthermore, gyroscopes can measure
the angular velocity in three dimensions. The
common variants of gyroscopes used in inertial
navigation systems include Fiber Optics Gyros
(FOGs), Ring Laser Gyros (RLGs), mechanical
gyros, Micro-Electro-Mechanical System (MEMS),
vibrating gyros, and Hemispherical Resonator
Gyros (HTGs). Based on application, the space
launch vehicles segment is projected to account
for the highest growth in the inertial navigation
system market during the forecast period Based
on the application, the space launch vehicles
segment is estimated to account for the largest
share in the inertial navigation system market in
2017. Rise in deployment of space launch
vehicles, such as, small satellites, across the
globe is anticipated to increase the demand for
highly reliable and accurate inertial navigation
system, to ensure the vehicle. In a spaceflight,
a launch vehicle is a rocket used to transport
spacecraft, satellites, and payload from the
surface of the earth into the outer space.
Depending upon the capabilities, space launch
vehicles vary from a small lift launch vehicle
to super-heavy lift vehicle. Furthermore, the
rise in frequency of satellite launched for
various applications, including research and
development, scientific and communication, among
others, is anticipated to drive the demand for
inertial navigation systems in these space launch
vehicles.
2
Based on region, Asia Pacific is projected to
grow at the highest CAGR during the forecast
period Asia Pacific region is estimated to grow
at the highest CAGR during the forecast period
owing to the rise of aviation industry in the
region, while North America is estimated to
account for the largest share in the inertial
navigation system market in 2017. One of the
significant factors attributing the growth of
Asia Pacific region is the emergence of key
aircraft manufacturers, such as COMAC (China) and
Mitsubishi Aircraft Corporation (Japan), among
others. 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), Thales Group (France), The Raytheon
Company (US), General Electric Company (US),
Rockwell Collins Inc. (US), Teledyne Technologies
Inc. (US), VectroNav Technologies LLC. (US),
LORD MicroStrain (US), and Trimble Navigation
Ltd. (US), among others. Ask for Sample Report
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