Inertial Navigation System Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Aircraft, Missiles, Space Launch Vehicles, Marine, Military Armored Vehicles, Unmanned Aerial Vehicles, Unmanned Ground Vehicles, Unmanned Marine Vehicles), By Component (Accelerometers, Gyroscopes, Algorithms And Processors, Wireless Systems), By Grade (Marine Grade, Navigation Grade, Tactical Grade, Space Grade, Commercial Grade), By Technology (Mechanical Gyros, Ring Laser Gyros, Fiber Optics Gyros, MEMS, Others), And By Geography - Forecasts From 2021 To 2026

Published:  Oct 2021 Report Code: KSI061610518 Pages: 121

The inertial navigation system market was valued at US$9.066 billion in 2019 and is expected to grow at a CAGR of 7.94 % over the forecast period to reach a total market size of US$15.478 billion by 2026. 

Navigation with an inertial navigation system (INS) relies on accelerometers and gyroscopes, which track an object's orientation and position based on a predetermined location, orientation, and velocity. ?With excellent concealment, the INS is a self-contained system. Due to its independent nature, it does not emit any energy into outer space, making it applicable in the sea, the air, and the ground. Unmanned aerial vehicles, unmanned underwater vehicles, unmanned ground vehicles, among others, are becoming increasingly popular remote-operated vehicles. These vehicles are fuelling the demand for the product. Inertial navigation system market growth will also be supported by the increasing adoption of MEMS technology-based navigation systems that offer enhanced accuracy. Such systems are highly valued by governments, for instance, Honeywell won an $87.9 million contract from the US Army for the commercial Tactical Advanced Land Inertial Navigator (TALIN) 5000 inertial navigation system.

Growth Factors:

  • Growing Usage of INSs for Military and Commercial Applications 

Advanced robotic vehicles operated remotely through sensor technology have become increasingly popular due to the widespread adoption of advanced technologies, including artificial intelligence (AI) and machine learning. Unmanned vehicles, whether underwater or on the ground, are increasingly produced with these emerging technologies. Market competitors continue to launch new products. The marine technology company Sonardyne announced its launch of SPRINT-Nav Mini - the company's hybrid, underwater, and surface vehicle navigation platform - in September 2021 as the new "top of the line" model. The new Navigator version allows for the calculation and provision of the underwater vehicle's position via remote, autonomous, or piloted vehicles. The above developments point to a boost in growth for inertial navigation systems. Parker LORD Microstrain Sensing unveiled its new all-in-one navigation system in January 2021, with the capability of being equipped with dual antennas and RTK. It can be used for autonomous vehicles (AVs), robot operation, simultaneous localization and mapping (SLAM), as well as past visual contact navigation. In addition, India and the US have stipulated that they will cooperate on the development of air-launched unmanned aerial vehicles (ALUAVs), which are aircraft-launched. Further, the use of UGVs and UAVs is increased for commercial applications such as aerial photography, delivery of packages, and agricultural operations. 

Restrain:

  • High Cost 

Cost is a drawback of INS systems, which include the acquisition cost, the cost of operation, and the cost of maintenance. Furthermore, navigation errors tend to increase over time, as does heat dissipation. The size, weight, and power requirements are still higher than for GPS receivers, but with time and technology improvement, these requirements are decreasing. 

Covid-19 Insight

It is expected that a novel coronavirus will hamper market growth for a short period of time in 2020. Globally, many manufacturing plants are shut down as a result of this outbreak. In March 2020, Safran, for instance, announced that out of its 300 worldwide sites, 39 were shut down. A consequence of this is a reduction in INS component development, thereby affecting the growth of the market. Nonetheless, the growing demands from commercial and military unmanned vehicles indicate a strong need for next-generation INS in the years to come. 

Inertial Navigation System Market Scope:

Report Metric Details
 Market size value in 2019  US$9.066 billion
 Market size value in 2026  US$15.478 billion
 Growth Rate  CAGR of 7.94% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Application, Component, Grade, Technology, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Honeywell International Inc., Northrop Grumman Corporation, Safran Electronics & Defense, Thales Group, The Raytheon Company, General Electric Company, Rockwell Collins, Inc., Teledyne Technologies, Inc., Vectornav Technologies, LLC, Lord Microstrain
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Application
    • Aircraft
    • Missiles
    • Space Launch Vehicles
    • Marine
    • Military Armored Vehicles
    • Unmanned Aerial Vehicles
    • Unmanned Ground Vehicles
    • Unmanned Marine Vehicles
  • By Component
    • Accelerometers
    • Gyroscopes
    • Algorithms and Processors
    • Wireless Systems
  • By Grade
    • Marine Grade
    • Navigation Grade
    • Tactical Grade
    • Space Grade
    • Commercial Grade
  • By Technology
    • Mechanical Gyros
    • Ring Laser Gyros
    • Fiber Optics Gyros
    • MEMS
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
      • Others
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Japan
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the inertial navigation system market?
A1. The global inertial navigation system market is expected to grow at a CAGR of 7.94% over the forecast period.


Q2. What will be the inertial navigation system market size by 2026?
A2. The inertial navigation system market is expected to reach a total market size of US$15.478 billion in 2026.


Q3. What is the size of the global inertial navigation system market?
A3. Inertial Navigation System Market was valued at US$9.066 billion in 2019.


Q4. How is the global inertial navigation system market segmented?
A4. The global inertial navigation system market has been segmented by application, component, grade, technology, and geography.


Q5. What factors are anticipated to drive the inertial navigation system market growth?
A5. The growing demand for Unmanned Underwater Vehicles (UUV) is the key factor driving the growth of the inertial navigation system market.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis

5. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY APPLICATION 
5.1. Introduction
5.2. Aircraft
5.3. Missiles
5.4. Space Launch Vehicles
5.5. Marine
5.6. Military Armored Vehicles
5.7. Unmanned Aerial Vehicles
5.8. Unmanned Ground Vehicles
5.9. Unmanned Marine Vehicles 

6. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY COMPONENT
6.1. Introduction
6.2. Accelerometers
6.3. Gyroscopes
6.4. Algorithms and Processors
6.5. Wireless Systems 

7. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY GRADE
7.1. Introduction
7.2. Marine Grade
7.3. Navigation Grade
7.4. Tactical Grade
7.5. Space Grade
7.6. Commercial Grade

8. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY TECHNOLOGY
8.1. Introduction
8.2. Mechanical Gyros 
8.3. Ring Laser Gyros
8.4. Fiber Optics Gyros
8.5. MEMS
8.6. Others

9. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY GEOGRAPHY  
9.1. Introduction
9.2. North America  
9.2.1.  United States
9.2.2.  Canada
9.2.3.  Mexico
9.3. South America  
9.3.1.  Brazil
9.3.2.  Argentina
9.3.3.  Others
9.4. Europe  
9.4.1.  UK
9.4.2.  Germany
9.4.3.  Italy
9.4.4.  Spain
9.4.5.  Others
9.5. Middle East and Africa  
9.5.1.  Israel 
9.5.2.  Saudi Arabia
9.5.3.  Others
9.6. Asia Pacific  
9.6.1.  China
9.6.2.  Japan
9.6.3.  India
9.6.4.  Australia
9.6.5.  South Korea
9.6.6.  Taiwan
9.6.7.  Thailand
9.6.8.  Indonesia
9.6.9.  Others

10.  COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1.  Major Players and Strategy Analysis
10.2.  Emerging Players and Market Lucrativeness
10.3.  Mergers, Acquisitions, Agreements, and Collaborations
10.4.  Vendor Competitiveness Matrix

11.  COMPANY PROFILES.
11.1. Honeywell International Inc.
11.2. Northrop Grumman Corporation
11.3. Safran Electronics & Defense
11.4. Thales Group
11.5. The Raytheon Company
11.6. General Electric Company
11.7. Rockwell Collins, Inc.
11.8. Teledyne Technologies, Inc.          
11.9. Vectornav Technologies, LLC
11.10. Lord Microstrain

Honeywell International Inc.

Northrop Grumman Corporation

Safran Electronics & Defence

Thales Group

The Raytheon Company

General Electric Company

Rockwell Collins, Inc.

Teledyne Technologies, Inc.        

 Vectornav Technologies, LLC

Lord Microstrain

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