Inertial Navigation System Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Aircraft, Missiles, Space Launch Vehicles, Marine, Military Armored 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 2022 To 2027
- Published : Jul 2023
- Report Code : KSI061610518
- Pages : 194
The inertial navigation system market is projected to witness a compounded annual growth rate of 5.35% to grow to US$11.463 billion by 2027, from US$7.962 billion in 2020. A navigation method in which gyroscopes and accelerometers produce readings and are used to monitor an object's position and direction relative to a predefined starting point, orientation, and speed is specified as an inertial navigation system (INS). The INS finds a wide range of applications in the manufacture of guided military weapons as well as commercially made games, computers, cameras, and medical devices.
The need for unmanned underwater vehicles (UUVs) is increasing, which is propelling the industry forward. UUVs are widely utilized in oil and gas exploration, scientific investigation, and military armament with high precision requirements. They are employed for deactivating underwater mines, counterattacking, port security, and hull inspection in the defense industry. For instance, in June 2021, in collaboration with FUSCOL@B, the French marines' ALFUSCO innovation laboratory, and Safran Electronics & Defense developed the GeonyxTM M hybrid navigation system to satisfy the special needs of marine commandos stationed both at sea and on land. GeonyxTM M is aimed at naval speed boat platforms like ECUME or landing boats, as well as land-based systems, particularly amphibious vehicles, where it can be used in navigation and pointing.
Additionally, as global oil consumption rises, UUVs are rapidly being employed for oil rig building, pipeline examinations, and regular maintenance, driving the market's growth. Another element contributing to the market's expansion is the expanding aerospace industry. Advances in space research and an increase in satellite launches have increased the use of these navigation systems, which are required to correctly detect an object's velocity and altitude. For instance, in March 2021, Israel opened a non-GPS advanced navigation facility. The new facility specializes in developing and manufacturing battlefield navigation systems, with intentions to use a co-developed, non-GPS accurate navigating technology. Israel's Ministry of Defense (IMOD) and Israel Aerospace Industries have established a Navigation Technology Center committed to designing and manufacturing non-GPS navigation systems (IAI). IAI will use the new center to research and manufacture extremely accurate inertial sensors for use in next-generation navigation systems, boosting their effectiveness and performance substantially.
Furthermore, technical breakthroughs such as the advent of light-powered and small-size navigation systems that use ring laser gyro (RLG) and fiber optic gyro (FOG) are boosting the market's possibilities.
INCREASING DEMAND FROM THE AEROSPACE AND DEFENSE SECTOR
The rise in the demand for INSs in the aerospace and defense sector is a major factor expected to boost the inertial navigation system market growth. The market is expected to be driven by the growing aircraft industry and technical developments in navigation systems. When fighting platforms are engaged in missions, the inertial navigation system provides precise navigational and positioning information, whether for their position or the pointing of armaments, sensors, or weapons. They provide critical help to these systems while maintaining the highest level of security. For instance, in February 2021, Honeywell's Embedded GPS Inertial Navigation System (EGI), which supports M-code, the newly revised GPS signal used by the military worldwide, successfully flown-tested new technologies aimed to provide alternate navigation offerings. These tests, which required upgrading a Honeywell test aircraft with other navigation technology, mark a significant step forward in ensuring that navigation solutions are available even when GPS is unavailable.
The market is being boosted by the growing spending on military applications. Total worldwide military spending climbed by 0.7 percent in 2021, reaching $2113 billion. As per new data on global military spending released in April 2022 by the Stockholm International Peace Research Institute, the five greatest spenders in 2021 were the United States, India, the United Kingdom, China, and Russia, contributing 62 percent of expenditure (SIPRI).
Furthermore, antagonistic states or asymmetric forces (terrorists, guns, drugs, or human traffickers) are strengthening their attacks, diversifying their operations, and employing increasingly advanced technologies and systems in a progressively connected globe. The government's ability around the world to maintain sovereignty is heavily reliant on the technological autonomy of its military forces. For instance, in May 2019, Northrop Grumman revealed the launch of its next-generation maritime inertial navigation system, which will replace the MK-39 Mod 3 and 4 series of products. Sea Fiber Optic Inertial Navigation with Data Distribution (SeaFIND) is the first maritime inertial navigation system to switch from existing ring laser technology to Northrop Grumman's new upgraded fiber optic gyro technology (eFOG).
In addition, jamming and decoy threats impacting navigation and direction of radar and artillery systems are a major concern for governments and foreign special marine forces. They can't rely on satellite-based systems like GPS because their frequencies are sensitive. Because it is based on permanent physical principles, inertial navigation is a superior option. In October 2021, for example, Thales and CS GROUP merged their respective expertise to create a navigation system that is high-performing, durable, and cyber-secure. The system includes Thales' TopAxyz inertial navigation unit, which has clocked over 20 million operating hours in the most demanding conditions of civil flight. CS GROUP installed the navy version of the unit on a Navy vessel, and it has already shown its practical worth for maritime navigation.
RISING USE OF UUV
The growing demand for unmanned marine vehicles (UUV) is propelling the market forward. UUVs are widely utilized in oil and gas exploration, scientific research, and military armament with high precision requirements. They are employed for deactivating underwater mines, counterattacking, port security, and hull inspection in the defense industry. Underwater drones aid in oceanographic studies for the charting of the ocean floor in scientific study. Furthermore, as the world's oil consumption rises, UUVs are increasingly being employed for oil rig building, pipeline inspections, and maintenance tasks, boosting the product's demand. With the increasing use of artificial intelligence (AI) and innovation, the demand for unmanned marine vehicles is anticipated to increase.
Inertial Navigation System Market Scope:
|Market Size Value in 2020||US$7.962 billion|
|Market Size Value in 2027||US$11.463 billion|
|Growth Rate||CAGR of 5.35% from 2020 to 2027|
|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 & Defence, Thales Group, The Raytheon Company, Analog Devices, Inc., Teledyne Technologies, Inc., Vectornav Technologies, LLC, Lord Microstrain, Tersus GNSS Inc.|
|Customization Scope||Free report customization with purchase|
- BY APPLICATION
- Space Launch Vehicles
- Military Armored Vehicles
- BY COMPONENT
- 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
- BY GEOGRAPHY
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Scope of the Study
1.6. Market Segmentation
1.8. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY APPLICATION
5.4. Space Launch Vehicles
5.6. Military Armored Vehicles
6. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY COMPONENT
6.4. Algorithms and Processors
6.5. Wireless Systems
7. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY GRADE
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
8.2. Mechanical Gyros
8.3. Ring Laser Gyros
8.4. Fiber Optics Gyros
9. INERTIAL NAVIGATION SYSTEM MARKET ANALYSIS, BY GEOGRAPHY
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.5.2. Saudi Arabia
9.6. Asia Pacific
9.6.5. South Korea
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 & Defence
11.4. Thales Group
11.5. The Raytheon Company
11.6. Analog Devices, Inc.
11.7. Teledyne Technologies, Inc.
11.8. Vectornav Technologies, LLC
11.9. Lord Microstrain
11.10. Tersus GNSS Inc.
Honeywell International Inc.
Northrop Grumman Corporation
Safran Electronics & Defence
Analog Devices, Inc.
Teledyne Technologies, Inc.
Vectornav Technologies, LLC
Tersus GNSS Inc.
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