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Inertial Navigation System Market to Reach $15.45 bn by 2028; Surging Unmanned Vehicles Adoption to Fuel Market Growth

November 25, 2021 | Aerospace & Defense

The global inertial navigation system (INS) market is projected to witness striking growth by reaching USD 15.45 billion by 2028. Fortune Business Insights™, in its report titled “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”, and observes that market size stood at USD 10.38 billion in 2020 and USD 10.59 billion in 2021. It is further anticipated to exhibit a CAGR of 5.54% between 2021 and 2028. The surging demand for an accurate navigation system and the growing adoption of modern technologies such as machine learning and artificial intelligence are anticipated to boost the market growth in the coming years.


Northrop Grumman Corporation’s Upgraded SeaFIND INS for Marine Platform to Incite Development


In May 2019, Northrop Grumman Corporation launched the upgraded novel SeaFIND INS for maritime.  The next-generation navigation system succeeds MK-39 Mod 3 and 4 series of the company. The system provides navigation capabilities in an affordable and compact package. The system is ideal for applications where reduced power, weight, and size are crucial. It has embedded navigation data distribution capabilities that leverage the company’s proprietary algorithm for low data latency and allows system to interface with several users that need precise timing and positioning.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/inertial-navigation-system-ins-market-102849


Growing Demand for Highly Accurate Navigation Systems to Boost Market Growth


The growing adoption of unmanned vehicles has boosted the demand for small-sized modern navigation solutions. This had led to the development of portable, cost-efficient, and miniaturized INS components, such as micro-accelerometers and micro-gyroscopes. The demand for extremely accurate navigation systems for precise positioning has increased across military and commercial applications. The growing adoption of modern technologies such as machine learning and artificial intelligence to produce highly accurate navigation solutions is expected to boost the market growth in the coming years.


Industry Developments



  • May 2019: Northrop Grumman Corporation launched its upgraded SeaFIND INS for the marine platform. It is the first marine INS based on fiber optics gyro technology (eFOG).


Key Players in the Global Market are:



  • 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)


Further Report Findings



  • The market in North America stood at USD 4.53 billion in 2020 and is expected to gain the largest portion of the global inertial navigation system market share. The surging adoption of remotely operated vehicles across military and commercial applications is anticipated to boost the growth of the market.

  • Additionally, the U.S. is the largest provider and manufacturer of robotics vehicles. This is likely to bolster the growth of the market in North America in the upcoming years.

  • According to the component analysis, the gyroscope component segment is projected to witness the highest growth in the market due to the rising adoption of cost-efficient and compact gyroscopes. Gyroscope improves the performance and capabilities of inertial navigation system.


Table of Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



Component, Technology, Platform, End User, and Geography



By Component



  • Accelerometers

  • Gyroscopes

  • Others



By Technology



  • Mechanical Gyro

  • Ring Laser Gyro

  • Fibre Optics Gyro

  • MEMS

  • Others



By Platform



  • Airborne

  • Ground

  • Maritime

  • Space



By End User



  • Commercial

  • Military



By Geography


 




  • North America (By Component, Technology, Platform, End User, and Country)

    • U.S. (By End User)

    • Canada (By End User)



  • Europe (By Component, Technology, platform, End User, and Country)

    • U.K. (By End User)

    • Germany (By End User)

    • France (By End User)

    • Rest of Europe (By End User)



  • Asia Pacific (By Component, Technology, Platform End User, and Country)

    • Japan (By End User)

    • China (By End User)

    • India (By End User)

    • Rest of Asia Pacific (By End User)



  • Rest of the World (By Component, Technology, Platform, End User, and Country)

    • Latin America (By End User)

    • Middle East & Africa (By End User)




Inertial Navigation System (INS) Market
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