Inertial Systems Market

Inertial Systems Market Size, Growth, Forecast (2023-2028)

The Global Inertial Systems Market size was US$ 10.98 Billion in 2022 and is anticipated to succeed in the valuation of US$ $ 15.45 Billion in 2028 and is predicted to register a CAGR of 5.54% during 2023-2028.

Inertial Systems Market Scenario:

Inertial systems, and more specifically inertial navigation systems, use rotation sensors, computers, and motion sensors to measure factors such as velocity and orientation. These are commonly used on ships, guided missiles, submarines and spacecraft. Advanced inertial systems also include magnetic sensors and speedometers. The Inertial Systems Market Industry focuses on all key aspects, including various components such as IMUs, gyroscopes, reference systems, and flight attitudes. Industry-based applications such as industrial vehicles, household appliances, aerospace and defence, energy, infrastructure, transportation, medical and land transportation are also part of the industry.

Recent Developments of Inertial Systems Industry:

• SBG Systems renews its popular line of miniature inertial sensors - SBG Systems will announce the third generation of its popular Ellipse Series miniature inertial sensors. This updated product line features a 64bit architecture that enables high precision signal processing.
• Teledyne Marine Announces the Launch of a New Unmanned Survey Vessel - Trimble's high-precision GNSS heading receiver will be installed on the survey vessel, and it will be compatible with Trimble® Marine Construction (TMC) software, allowing marine construction/dredging projects to run efficiently and be monitored in real time anywhere in the world.

REPORT COVERAGE:

Inertial Systems Market Drivers:

Inertial System Market Trends shows increase in adoption of advanced technologies such as artificial intelligence (AI) and machine learning, advanced robotic vehicles that are remotely controlled using sensor technology are being adopted. These development technologies will increase the production of upgraded unmanned underwater vehicles, unmanned aerial vehicles, or unmanned ground vehicles. Therefore, today's conflict scenarios require precise location details, such as elevation and orientation of tactical equipment. This information is needed for efficient target planning and implementation. Inertial navigation systems are a collection of sensors such as accelerometers and gyroscopes that provide information about the position, orientation, and velocity of moving objects. These systems provide accurate location information and expand their usefulness in the defence sector. As a result, the growing firepower of the military and the growing demand for navigation accuracy around the world have supported the expansion of the market.

Inertial Systems Market Restraints:

Inertial navigation systems are widely used in defence applications such as ships, guided munitions, military, special mission helicopters, fighter aircraft, submarines, and short, medium, and long-range missiles. As a result, the use of INS in critical environmental conditions necessitates routine maintenance. The cost of procurement, operation, and maintenance for routine maintenance is high.

However, it is primarily used in various commercial and military applications to improve navigation capabilities. During the forecast period, the growing demand for remotely controlled vehicles is expected to drive up demand for INS. Furthermore, with the advancement of the GNSS/INS system, the accuracy error of INS is being eliminated.

Inertial Systems Market Segmentation Analysis:

By Component:

• Accelerometers
• Gyroscopes
• Others

Based on the component, The market is divided into components such as accelerometers, gyroscopes, and others. The second segment includes components such as a barometric altimeter, magnetometers, and a processing unit. The gyroscope component segment is anticipated to grow with the highest growth rate during 2022-2028. The surge in the adoption of compact and cost-effective gyroscopes to improve the capabilities and performance of these types of navigation systems is attributed to the growth.

By Technology:

• Mechanical Gyro
• Ring Laser Gyro
• Fibre Optics Gyro
• MEMS
• Others

Based on technology, the market is divided into ring laser gyro (RLG), fibre optic gyro (FOG), mechanical gyro, MEMS (microelectromechanical system) and so on. Due to the increasing integration of MEMS sensors into navigation systems, microelectromechanical system technology is growing at the fastest growth rate. This is mainly done to improve accuracy and reduce the weight of the entire system. MEMS sensors have features such as low cost, high performance, high reliability, and light weight.

By Platform:

• Airborne
• Ground
• Maritime
• Spa

By platform, the market is divided into air, ground, sea and space. The aerial platform segment had a dominant share in the base year. This large share is due to the growing demand for international and domestic air travel around the world.

In addition, increased use of UAVs in commercial and military applications such as surveillance, precision agriculture, medical device or organ transport, field mapping, and infrastructure surveillance is expected to accelerate market growth during the forecast period.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Inertial Systems Market Regional Analysis:

North America commands the highest market share of any region. The United States is the world's largest manufacturer and supplier of robotic vehicles that support market growth across the region. In addition, increasing adoption of remote-control vehicles for commercial and military applications is expected to drive market growth in North America. In addition, the presence of key players and OEMs will drive the growth of this market in the region.

The Asia Pacific region is expected to grow at a significant rate of growth in the market during the forecast period. This expansion is the result of increased investment in the defense sector by developing economies such as India and China. The defense sector in China and India is increasing defense spending and procurement of advanced remote-controlled vehicles for military use. In Europe, the market is expected to grow moderately as well-known OEMs such as Thales Group and Saffron are driving market growth across the region. In other parts of the world, we see remarkable growth during the forecast period. This growth is due to increased demand for drones for surveillance activities, increased defense spending, and the strengthening of the armed forces of several countries in the region.

Key Players in the Market:

Major Key Players in the Global Inertial Systems Market are

• MEMSIC Inc
• Trimble Inc
• Ixblue SAS
• L3Harris Technologies
• SBG System
• SAS