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From 2024 to 2031, the inertial navigation system (INS) market is projected to grow at a CAGR of 7.70%, reaching a value of USD 17.869 billion by the end of the forecast period.
A navigation device known as the Inertial Navigation System (INS) can display the vehicle's position and speed based on data collected by accelerometers and gyroscopes. As the number of vehicles on the road and their usage continue to rise, the inertial navigation system market stands to gain. There has been moderate expansion in the inertial navigation system (INS) industry during the past many years. There will be further expansion of the Market in the years to come. An object's gravitational force, angular velocity, and direction of travel can all be measured by the INS. These days, sensors like gyroscopes and accelerometers are just one part of what the Inertial Navigation System uses.
The associated Inertial Navigation System Market is anticipated to expand in tandem with the sensor technology, which has recently undergone significant advancements, becoming a reliable and lightning-fast technology. Military aviation, missile launches, and commercial aircraft all make use of the INS. Commercial games and medical devices that employ location trackers also make advantage of the INS. Eventually, the inertial navigation system industry will reap the rewards of an increase in inertial reference system application cases.
With an emphasis on worldwide market trends, the "Global Inertial Navigation System market Analysis to 2028" provides a detailed and expert examination of the industry. Through comprehensive market segmentation based on component, application, technology, and geography, this study intends to offer a synopsis of the worldwide inertial navigation system industry. Throughout the projected timeframe, the worldwide inertial navigation system industry is anticipated to experience robust expansion. The research gives essential data on the current state of the market for inertial navigation systems, as well as important trends and opportunities in the industry.
The Inertial Navigation System Market was not immune to the effects of the COVID-19 epidemic, which hit every industry hard. Due to the pandemic and subsequent shutdown, Market shrunk in size and application, mirroring the detrimental impact on the travel industry. Sales and production slowed in the manufacturing sector, which includes the INS Market. Because of this, the Inertial Navigation System Market's growth rate slowed down throughout the pandemic. Nevertheless, the market will also see a renaissance in the post-pandemic period, when the production of missiles and planes for various purposes begins to gain momentum. The military and naval sectors will see an increase in the use of inertial navigation system aircraft. Overall, the market is expected to experience significant trends of growth due to the deployment of an improved ship inertial navigation system. Consequently, the INS Market is expected to grow during the forecast period.
In today's battlefield, pinpoint accuracy down to the height and direction of military assets is crucial. In order to successfully plan and carry out objectives, certain specifics are necessary. Inertial navigation systems collect data on a moving object's position, orientation, and speed using a network of sensors that includes gyroscopes and accelerometers. The military has found more and more uses for inertial navigation systems due to the precise location data they give. The inertial navigation system market has grown due to factors such as the expanding firepower of militaries around the world and the increasing requirement for precise navigation.
Defense vessels, guided missiles, fighter planes, submarines, fighter helos, and military and special mission helicopters all make heavy use of inertial navigation systems. A number of developed nations' defense budget cuts have dampened demand for inertial navigation systems, which is limiting the industry's expansion. These countries include Canada, Sweden, Switzerland, and Finland. As an example, in 2016, the Canadian government withdrew over $4 billion that was supposed to go toward buying new military equipment and instead opted to cut defense spending to less than 1% of GDP. As a result, inertial navigation systems are not as popular as they once were because defense spending is down.
Report Coverage
Global Inertial Navigation System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Inertial Navigation System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Inertial Navigation System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Inertial Navigation System market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Inertial Navigation System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Inertial Navigation System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Inertial Navigation System market based on the below-mentioned segments:
Global Inertial Navigation System Market, By Component
Accelerometers
Gyroscopes
Others
Global Inertial Navigation System market, By Technology
Mechanical Gyro
Ring Laser Gyro
Fibre Optics Gyro
MEMS
Others
Global Inertial Navigation System Market, By End User
Commercial
Military
Global Inertial Navigation System market, Regional Analysis
A navigation device known as the Inertial Navigation System (INS) can display the vehicle's position and speed based on data collected by accelerometers and gyroscopes. As the number of vehicles on the road and their usage continue to rise, the inertial navigation system market stands to gain. There has been moderate expansion in the inertial navigation system (INS) industry during the past many years. There will be further expansion of the Market in the years to come. An object's gravitational force, angular velocity, and direction of travel can all be measured by the INS. These days, sensors like gyroscopes and accelerometers are just one part of what the Inertial Navigation System uses.
The associated Inertial Navigation System Market is anticipated to expand in tandem with the sensor technology, which has recently undergone significant advancements, becoming a reliable and lightning-fast technology. Military aviation, missile launches, and commercial aircraft all make use of the INS. Commercial games and medical devices that employ location trackers also make advantage of the INS. Eventually, the inertial navigation system industry will reap the rewards of an increase in inertial reference system application cases.
With an emphasis on worldwide market trends, the "Global Inertial Navigation System market Analysis to 2028" provides a detailed and expert examination of the industry. Through comprehensive market segmentation based on component, application, technology, and geography, this study intends to offer a synopsis of the worldwide inertial navigation system industry. Throughout the projected timeframe, the worldwide inertial navigation system industry is anticipated to experience robust expansion. The research gives essential data on the current state of the market for inertial navigation systems, as well as important trends and opportunities in the industry.
The Inertial Navigation System Market was not immune to the effects of the COVID-19 epidemic, which hit every industry hard. Due to the pandemic and subsequent shutdown, Market shrunk in size and application, mirroring the detrimental impact on the travel industry. Sales and production slowed in the manufacturing sector, which includes the INS Market. Because of this, the Inertial Navigation System Market's growth rate slowed down throughout the pandemic. Nevertheless, the market will also see a renaissance in the post-pandemic period, when the production of missiles and planes for various purposes begins to gain momentum. The military and naval sectors will see an increase in the use of inertial navigation system aircraft. Overall, the market is expected to experience significant trends of growth due to the deployment of an improved ship inertial navigation system. Consequently, the INS Market is expected to grow during the forecast period.
In today's battlefield, pinpoint accuracy down to the height and direction of military assets is crucial. In order to successfully plan and carry out objectives, certain specifics are necessary. Inertial navigation systems collect data on a moving object's position, orientation, and speed using a network of sensors that includes gyroscopes and accelerometers. The military has found more and more uses for inertial navigation systems due to the precise location data they give. The inertial navigation system market has grown due to factors such as the expanding firepower of militaries around the world and the increasing requirement for precise navigation.
Defense vessels, guided missiles, fighter planes, submarines, fighter helos, and military and special mission helicopters all make heavy use of inertial navigation systems. A number of developed nations' defense budget cuts have dampened demand for inertial navigation systems, which is limiting the industry's expansion. These countries include Canada, Sweden, Switzerland, and Finland. As an example, in 2016, the Canadian government withdrew over $4 billion that was supposed to go toward buying new military equipment and instead opted to cut defense spending to less than 1% of GDP. As a result, inertial navigation systems are not as popular as they once were because defense spending is down.
Report Coverage
Global Inertial Navigation System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Inertial Navigation System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Inertial Navigation System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Inertial Navigation System market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Inertial Navigation System Market from 2021 to 2031.
- Market Forecast for Inertial Navigation System Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Inertial Navigation System competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Inertial Navigation System
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Inertial Navigation System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Inertial Navigation System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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).
Primary Target Market
- Market Players of Inertial Navigation System
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Inertial Navigation System market based on the below-mentioned segments:
Global Inertial Navigation System Market, By Component
Accelerometers
Gyroscopes
Others
Global Inertial Navigation System market, By Technology
Mechanical Gyro
Ring Laser Gyro
Fibre Optics Gyro
MEMS
Others
Global Inertial Navigation System Market, By End User
Commercial
Military
Global Inertial Navigation System market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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