Inertial Navigation System Market Size, Share & COVID-19 Impact Analysis, By Component (Accelerometers, Gyroscopes, and Others), By Technology (Ring Laser Gyro, Mechanical Gyro, Fiber Optics Gyro, MEMS and Others), By Platform (Airborne, Ground, Sea, and Space), By End User (Commercial, and Military & Defense), and Regional Forecast, 2021 – 2028

The global inertial navigation system (INS) market size was USD 10.38 billion in 2020. The global impact of COVID-19 has been unmatched and staggering, with inertial navigation systems witnessing a low demand across all the regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 12% in 2020 compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 10.59 billion in 2021 to USD 15.45 billion in 2028 at a CAGR of 5.54% in the 2021-2028 period. The sudden decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

An inertial navigation system is an electronic device used to determine the direction, speed, position, and orientation of the item by utilizing locally available inertial sensors and dead shaking strategies. This system consists of a global navigation satellite system (GNSS) receiver, an inertial measurement unit, or other motion-sensing devices. These components operate together to identify the exact data of an object. In addition, the INS consists of a computational unit used to analyze and track the measured data coming from inertial sensors.

Moreover, the inertial measurement unit (IMU) integrated with INS typically contains three orthogonal accelerometers and three orthogonal gyroscopes that provide linear acceleration and angular velocity measurement. Therefore, the rising demand for miniaturized accelerometers and gyroscope sensors will emphasize developing next-generation INS with increased performance and reduced size and weight.

The growing adoption of unmanned vehicles is expected to fuel the demand for a next-generation INS with low weight, small size, and high efficiency.  Furthermore, increased adoption of the MEMS technology-based navigation grade system to improve accuracy will aid the market growth during the forecast period. Additionally, the rising development of a driverless car in China will be expected to create lucrative growth opportunities for market expansion.

Decreased in Demand of UAVs for Commercial Applications amid COVID-19 to Decline Growth

The pandemic situation has resulted in a temporary prohibition on commercial operations. The disruption in the process leads to limited availability of system components and a decrease in demand for unmanned vehicles for commercial operation such as testing of oil tanks, pipeline inspection, windmill inspection, and field mapping. Moreover, the critical manufacturing units across the world are shut down during the lockdown.

• For instance, on March 31, 2020, Safran states that, out of its 300 worldwide Safran sites, the 39 locations are closed.

This affects the development of inertial navigation system components, which directly hamper the growth of this market. The coronavirus's unfavorable global effects are already evident, and they will have a considerable impact on the market in 2020.

However, the increasing requirement of unmanned vehicles for commercial and military surveillance applications is expected to create a considerable demand for next-generation navigations systems in the coming years.

LATEST TRENDS

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Development of Miniaturized Navigation System Component to Reduce Overall System Size and Weight

With the rising adoption of unmanned vehicles worldwide, the demand for small-sized advanced navigation solutions is increasing. This leads to an increase in the development of miniaturized, cost-efficient, and portable inertial navigation system components, including micro-gyroscope and micro-accelerometers. These micro-sized components help navigation systems to offer excellent performance at relatively low cost and size and weight. Moreover, with MEMS technology, further miniaturization of the sensor integrated system is possible. Therefore, the production of miniaturized MEMS accelerometer and MEMS gyroscope is increased to achieve the application needs.

The inertial navigation system industry is being boosted by new investments in military and naval applications. The market is expected to be driven by the growing aerospace market and technical developments in navigation systems. When fighting platforms are engaged in missions, the INS provides precise navigation and positioning information, whether for their location or the pointing of weapons systems (artillery, missiles, etc.), sensors (radars, optronics, etc.), or weapons themselves. They provide critical help to these systems while maintaining the highest level of security. Such system provides fully autonomous operating and electronic warfare resistance on sophisticated jets like the Rafale. This technology has also been incorporated in the European NH90 helicopter. 

DRIVING FACTORS

Need for Highly Accurate Navigation Solution to Surge Demand for INS

The increasing adoption of advanced technologies, such as artificial intelligence (AI) and machine learning, has led to the adoption of advanced robotic vehicles that are operated remotely using sensor technology. These developing technologies increase the production of upgraded unmanned underwater vehicles, unmanned aerial vehicles, or unmanned ground vehicles. Therefore, the need for precise position details, including altitude and orientation of tactical grade equipment, is critical in today's conflict scenario. These details are necessary for efficient target planning and implementation. Inertial navigation systems are a collection of sensors, such as accelerometers and gyroscopes, which provide information on a moving body's position, orientation, and velocity. These systems offer precise location information has expanded their utility in the defense sector. As a result, the growing firepower of militaries worldwide and the growing demand for navigational accuracy have aided the expansion of the market.

Technological Advancements in Navigation Market is Driving Market Growth

This market is fuelled by technological developments in navigation, the rising aerospace business, and the availability of solid and minor components. In addition to this, the increasing technological developments in MEMS (micro-electro-mechanical systems) and the usage of satellite navigation are two other factors that supporting to expand the market size. Manufacturers have developed cost-effective and more efficient solutions due to the use of MEMs, resulting in light, tiny, and low-cost navigation systems.

Honeywell Inc., Safran, Thales, Rockwell Collins, and Northrop Grumman are among the leading competitors in the facility management market. Honeywell Inc., for example, is focused on providing solutions for aviation systems that deliver accuracy in terms of velocity, attitude, flight vector, and direction.

RESTRAINING FACTORS

High Cost Associated with INS ted to Hamper Market Growth

An inertial navigation system comprises several components and is widely used for defense applications, including ships, guided munitions, military, special mission helicopters, fighter aircraft, submarines, and short, medium, and long-range missiles. Therefore, the use of INS in critical environment conditions requires regular maintenance. Regular maintenance results in high procurement, operation, and maintenance cost. This factor is expected to hamper the market growth during the forecast period.

However, it is primarily used in various commercial and military applications to increase the capabilities of navigation. The growing demand for a remotely controlled vehicle is expected to increase the demand for INS during the forecast period. Moreover, the accuracy error of INS is eliminated with the rising development of the GNSS/INS system.

SEGMENTATION

By Component Analysis

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Gyroscope Component Segment Witness Fast Pace Growth

Based on the component, the market is divided into accelerometers, gyroscopes, and others. The other segment consists of parts such as barometric altimeter, magnetometers, and processing unit.

The gyroscope component segment is anticipated to grow with the highest growth rate during 2021-2028. The growth is attributed to the surge in the adoption of compact and cost-efficient gyroscopes to improve the capabilities and performance of these type of navigation systems.

In addition, the ability of gyroscopes to calculate the angular velocity in three dimensions will contribute to the growth of this segment. The gyroscope is present in several varieties, including vibrating gyros, ring laser gyros (RLGs), fiber optics gyros (FOGs), micro electro mechanical system (MEMS), hemispherical resonator gyros (HRGs), and mechanical gyros. Among these, the demand for MEMS gyroscopes increases with a growing trend towards the miniaturization of MEMS technology.

• For instance, in April 2021, Inertial Labs announced that it had developed the next generation of GPS-aided systems such as INS-DH-OEM, IMU-NAV-100, and INS-U. These INS are designed for airborne platforms such as UAVs, helicopters, and LiDAR surveys. The IMU-NAV-100 and INS-U are comprised of MEMS MEMS accelerometers and MEMS gyroscopes.

By Technology Analysis

Micro-Electro-Mechanical Systems Technology Segment to Grow at Faster Pace during Forecast Period

Based on technology, the market has been segmented into ring laser gyro (RLGs), fiber optics gyro (FOGs), mechanical gyro, MEMS (micro-electro-mechanical systems), and others. The micro-electro-mechanical system's technology is increasing at the fastest growth rate owing to the increased integration of MEMS sensors in the navigation system. This is mainly done to improve accuracy and reduce the overall system weight. The MEMS sensors have features including low cost, high performance, high reliability, and low weight.

Owing to these features, the usage of the MEMS accelerometer and MEMS gyroscope is high in the development of INS. In addition, the quartz MEMS have overcome past previous SWaP-c barriers in line-of-sight communication and targeting and autonomous navigation. The quartz MEMS inertial sensors use a one-piece, micro-machined inertial sensing element to measure angular rotational velocity.

By Platform Analysis

Airborne Segment Registered Largest Share during Forecast Period

By platform, the market has been classified into airborne, ground, maritime, and space.

The airborne platform segment held a dominant share in the base year. This large share is accredited to the increased demand for international and domestic air travel worldwide.  In addition, the rising usage of UAVs for commercial and military applications, including surveillance, precision agriculture, medical equipment or organ transport, field mapping, and infrastructure monitoring, are expected to boost the market growth during the projection period.

On the other hand, the space platform segment witnessed the highest compound annual growth rate during the forecast period due to the increase in satellite launch programs and the investment in space research and development activities.

By End User Analysis

Military Segment Will Experience Fast Pace Growth during Forecast Period

Based on the end user industry, the market has been bifurcated into commercial and military.

The commercial segment is expected to dominate the market in 2020. The rising number of commercial aircraft owing to constantly increasing air traffic across the globe supports expanding the market size of inertial navigation systems during the forecast period.

On the other hand, the military end user segment is anticipated to grow at a higher CAGR throughout the forecast period. This growth is due to the increasing demand for advanced military solutions to strengthen the nation’s safety and security. This demand will lead to rapid advances in advanced missiles with the next generation of inertial navigation systems to enhance its performance during Warfield. Moreover, the growing terrorist attacks and increased international threats due to the increasing conflicts among neighboring countries will increase the procurement of UAVs to improve border protection with continuous surveillance. Therefore, the growing development of missiles and UAVs are rising the growth of INS for military applications.

REGIONAL INSIGHTS

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The global inertial navigation system market is segmented into regions, namely, North America, Europe, Asia Pacific, and the Rest of the World.

North America stood at USD 4.53 billion in 2020. The global market has been segmented into North America, Europe, Asia Pacific, and the Rest of the world. Among these regions, North America registered the largest market share. The U.S. is the largest manufacturer and provider of robotic vehicles worldwide, which will aid the growth of the market across the region. Moreover, the growing adoption of remotely operated vehicles in commercial and military applications is anticipated to drive market growth in North America. Furthermore, the presence of significant players and OEMs will facilitate this market growth in the region.

Asia Pacific will expect to grow at a significant growth rate in the market during the forecast period. The growth is attributed to the growing investments in the defense sector from growing economies such as India, China, and others. The defense sector in China and India have increased their defense expenditure and procurement of advanced remotely operated vehicles for military applications.

In Europe, the market is expected to grow moderately due to prominent OEMs such as Thales Group, Safran, and others that drive the market growth across the region. The Rest of the World registers remarkable growth during the forecast period. This growth is due to the increasing demand for unmanned vehicles for surveillance operation, growing defense expenditure, and strengthening military forces by several countries in the region.

KEY INDUSTRY PLAYERS

Key Players Adopt Continuous Product Innovation and Strategic Acquisition and Partnerships to Sustain in Market

The market has numerous prominent players with strong product and brand portfolios. The players involved in the market are adopted various strategies to sustain themselves in the competition. The first strategy is growing investment in research and development activities to manufacture innovative, cost-efficient product lines. Moreover, the key players focus on developing the miniaturized product to meet the end user’s application demand and win government contracts. Also, key players adopt acquisition and collaboration investment strategies to maintain and strengthen their brand position in the market.

LIST OF KEY COMPANIES PROFILED:

• Honeywell International Inc. (U.S.)


• Northrop Grumman Corporation (U.S.)


• Safran (France)


• Thales Group (France)


• Raytheon Technologies Corporation (U.S.)


• General Electric Company (U.S.)


• Teledyne Technologies, Inc. (U.S.)


• VectorNav Technologies, LLC (U.S.)


• Parker-Hannifin Corporation (U.S.)


• Trimble Navigation Ltd. (U.S.)


• Gladiator Technologies, Inc. (U.S.)


• iXblue SAS (France)

KEY INDUSTRY DEVELOPMENTS:

• September 2020 – Northrop Grumman Corporation announced that it had completed the critical design review (CDR) milestone for the embedded global positioning system (GPS) / Inertial Navigation System -Modernization, or EGI-M, program.


• August 2020 – VectorNav Technologies, LLC introduced a novel miniature inertial measurement unit and GNSS/inertial navigation system products: The VectorNav Tactical Embedded.


• April 2020 – Honeywell International Inc. announced that it had awarded a four-year contract worth USD 99.1 million from the U.S. Air Force to update the service branch’s embedded global positioning system/inertial navigation system.

REPORT COVERAGE

An Infographic Representation of Inertial Navigation System (INS) Market

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The global inertial navigation system market report provides a detailed analysis of the market research report and focuses on key aspects, such as renowned manufacturers, products, demanding technologies, and end-users. Moreover, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the market report encompasses several direct and indirect factors that have contributed to the market's growth over recent years.

Report Scope & Segmentation