According to Research Nester report titled “High End Inertial Sensors, IMUs and INS Market Outlook: Global Industry Analysis & Opportunity Evaluation 2018–2027” delivers detailed overview of the global high-end inertial sensors, IMUs and INS market in terms of market segmentation by technology, by application, by performance grade and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
High-end inertial sensors are high-cost devices that operate on the concept of inertia and offer highly precise data through relative movement pertaining to the surrounding environment encompassing high-performance INS and IMU motion or rotational sensors for continuous calculation of navigation by computing orientation, velocity and position in military automobiles, aircrafts, autonomous vehicles, industrial robots and others. The global high-end inertial sensors, IMUs and INS market garnered USD 3191.50 million in 2018 and is estimated to cross USD 5,150 Million by the end of 2027 by growing at a CAGR of 5.6% during the forecast period (2019-2027).
The global high-end inertial sensors market is segmented on the basis of technology, application, performance grade and region. The technology segment comprises of mechanical gyro, fiber optics gyro, micro-electro-mechanical system, vibrating gyro, hemispherical resonator gyro and ring laser gyro and others. Amongst these, the ring laser gyro segment is estimated to attain a Y-O-Y growth rate of 5.40% (in terms of value) by 2027 as compared to 2026. A compact, lightweight and highly durable unit makes it an attractive choice for applications in satellites and aircrafts. Rise in space testing for further explorations in the galaxy is anticipated to increase the use of satellites, which in turn is attributed to raise the demand for ring laser gyroscopes around the globe.
Geographically, the market is segmented region wise covering the regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa, out of which, the market is having a significant presence in developed economies and is currently exploring better growth opportunities in new markets especially in the developing economies such as India, China, Indonesia, Sweden, Mexico, Finland and Brazil that are undergoing a phase of rapid industrialization and automation. However, North American region is still expected to hold leadings shares in the market by acquiring 30.50% in terms of value by 2027. This growth can be attributed to recovery in the economy after the sub-prime crisis. which further delineates significant growth. Besides, Asia Pacific region is slated to account for highest share in terms of volume by 2027, owing to the presence of rising middle class population coupled with an ageing global fleet driving the demand for new aircrafts, which in turn is boosting the growth of this market.
However, the maximum demand for the high-end inertial sensors are attributed to orders procured from end-use industries such as automotive and aerospace and an economic slowdown during the forecast period may force these industries to cut down on their production which will create a fall in demand for high-end inertial sensors over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global high-end inertial sensors, IMUs and INS market which includes company profiling of Honeywell International Inc., Northrop Grumman Corporation, Bosch Sensortech GmbH, Safran Electronics & Defense, Thales Group, General Electric Company, Rockwell Collins Inc., STMicroelectronics and Trimble Inc. among others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global high-end inertial sensors, IMUs and INS market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.