The
Inertial Navigation System (INS) Market Report provides an analysis of the
market from 2019 to 2022.It discusses industry and technology trends currently
prevailing in the market, along with drivers, challenges, and opportunities.
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.
Browse 131 Market Data Tables and 36
Figures spread through 172 Pages and in-depth TOC on "Inertial Navigation
System (INS) Market - Global Forecast to 2022"
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Based on application, the space
launch vehicle segment in the inertial navigation system market is estimated to
be the fastest-growing market during the forecast period
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.
Based on grade, the navigation grade
segment in the inertial navigation system market is projected to grow at the
highest CAGR from 2017 to 2022
Based
on aircraft type, 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, the demand for commercial aircraft is expected
to grow significantly in future.
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Based on technology, the MEMS
segment in the inertial navigation system market is projected to grow at a
higher CAGR from 2017 to 2022
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.
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.
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).
These key players offer various technologies such as Ring Laser Gyro (RLG),
Fiber Optics Gyro (FOG), and MEMS in inertial navigation systems. These
companies have well-equipped manufacturing facilities and strong distribution
networks across North America, Europe, and the Asia Pacific.
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