Global Inertial Navigation System (INS) Market is valued at $ XX billion in 2018 and is expected to reach $ 16.10 billion by 2026 growing at a CAGR of XX % during forecast period 2019-2026.
An inertial navigation system uses a computer based system, and motion sensors, such as gyroscopes and accelerometers to continuously calculate by dead reckoningthe position, the velocity, the orientation of a moving object. These systems are used in navigation applications, aerospace where accuracy and performance are of utmost importance.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Inertial Navigation System Market Drivers:
• Technological advancements in navigation, growing aerospace market.
• Availability of robust and small components and high availability of smaller robust component at cheaper rate.
• Rising demand for missiles due to geopolitical variability & altering nature of warfare
• Growing demand for accuracy in navigation and increasing demand for unmanned underwater vehicles (UUVs) are fueling the market growth.
• The increasing defense budgets worldwide, rising tensions between the Middle Eastern countries, and border disputes in Asian countries have led to an augmented demand for modernized systems and technologies to strengthen military forces and armaments.
• Increase in aircraft orders, advancement in space research leading to the use of a larger number of launch vehicles, and rise in satellite launches will drive industry growth over the forecast period 2018-2026.
Global Inertial Navigation System Market Restrain:
• Decrease in defense budgets of developed countries
• Functional difficulty associated with high-end INS and cost, complexity, system accuracy are hindering the growth of the market.
Global Inertial Navigation System Market Regional Analysis
North America is expected to lead the global inertial navigation system market over forecast period 2018-2026.The United States of America has a major market share in missiles along with a most beneficial aviation industry. Major aircraft manufacturers present in North America are Boeing (US), Bombardier (Canada), Lockheed Martin (US), Bell Helicopter (US), and Sikorsky Aircraft (US), and therefore generate a high demand for the inertial navigation system.
However APAC and the Middle East collectively hold the second spot in terms of market share, which can be attributed to the launch of many programs on inertial navigation systems (INS) countries such as China and India are expected to growth of the market due to the rise in defense budgets. Additionally, owing to presence emerging aircraft manufacturers, such as COMAC (China) and Mitsubishi Aircraft Corporation (Japan), among others will propel the market growth.
Global Inertial Navigation System Market Segment Analysis
Based on technology, Micro Electro Mechanical Systemssegment in the inertial navigation system market is expected to achieve highest growth owing technological advances in MEMS based technologies that are resulting in its enhanced applicability for unmanned and small aircraft applications. The technology also allows the user to measure the acceleration of a vehicle for estimating change in velocity by applying several mathematical calculations to time and acceleration of the vehicle.
Global Inertial Navigation System Market Recent Highlights
• According to the Boeing Recent Market Outlook 2017, the world requires 45,000 new airplanes in next 15 years. That will be 3.6% increase from current capacity and the value of the orders is calculated to be USD 6.1 trillion.
• US Air Force in 2016 awarded a contract to Northrop Grumman under Military GPS User Equipment Program (MGUE) that involves development of an integrated product structure including GPS/INS and GNSS/INS consist superior performance features as compared to global positioning system (GPS) and standalone global navigation satellite system (GNSS). These technologies will be drive the global inertial navigation system market development.
• Boom and Dassault cooperate to develop supersonic passenger aircraft.
• Bombardier announces expansion of its U.S. footprint in California.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Inertial Navigation System Market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Inertial Navigation System Market.
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Global Inertial Navigation System Market, Scope of Report
Global Inertial Navigation System Market by Product type
Global Inertial Navigation System Market by Technology type
• Micro Electro Mechanical Systems
• Fiber optic gyro
• Ring laser gyro
• Vibrating gyro
Global Inertial Navigation System Market by Application type:
Global Inertial Navigation System Market by Region:
• North America
• South America
• Asia pacific
Key players in Global Inertial Navigation System Market
• 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.
• Atlantic Inertial Systems
• KVH Industries
• Systron Donner Inertial.
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