The Inertial Measurement Unit (IMU) Market Size was valued at USD 24.60 billion in 2022 and is expected to reach USD 69.68 billion by 2030 with a growing CAGR of 13.9% over the forecast period 2023-2030.
An inertial measurement unit is an electronic device that uses accelerometers, gyroscopes, and magnetometers to detect velocity, angular rate, direction, and gravitational forces. Inertial measurement units are employed as components of navigation and guidance systems to track a vehicle's position, velocity, and orientation. Navigation and correction, control and stabilisation, measurement and testing, mobile mapping, and unmanned system control all make use of inertial measurement units. The data obtained from inertial measurement units is processed by a computer in order to establish the current position based on velocity and time in an inertial navigation system.
To get more information on Inertial Measurement Unit (IMU) Market - Request Free Sample Report
microelectromechanical systems (MEMS) Due to the widespread use of MEMS in unmanned systems, gyro technology is expected to account for the largest CAGR during the review period. MEMS gyroscopes are commonly used to determine angular velocity utilising a sensor vibrating mechanical element. It does not have any spinning parts due to its modest size.
MARKET DYNAMICS
KEY DRIVERS
Increased demand for missiles as a result of geopolitical unrest and the changing nature of warfare
Miniaturized components are available at reasonable prices.
RESTRAINTS
High-end IMUs have operational complications.
Defense budgets of affluent countries fluctuate
OPPORTUNITY
Improved performance when combined with other systems
MEMS-based IMU technological developments
CHALLENGES
Time required for system startup
Commercial drone use restrictions
IMPACT OF COVID-19
Because of the COVID-19 scenario, ongoing research and development in inertial measurement units has been hampered by announced lockdowns and government bans on public gatherings.
The COVID-19 impact has caused a slowing in the economies of various countries, which may hamper government spending in defence projects. Such a reduction in expenditure will have a direct impact on the growth of the inertial measurement unit market.
Travel restrictions and reduced military activity as a result of COVID-19 have also hampered the expansion of the inertial measurement market, as the supply chain of associated spare components has been disrupted.
The global inertial measuring unit market may see significant growth in the coming quarter, as industry output has begun to pick up steam following the difficult phase of COVID-19.
The MEMS category is expected to have the highest CAGR rate for the inertial measurement unit market during the forecast period, based on technology. Because of their low weight and comparably superior accuracy in a small package, these small, lightweight systems offer an advantage over other types of IMUs. In the next years, MEMS-based IMUs are likely to replace FOG IMUs in tactical grade performance applications.
The commercial grade category is expected to develop at the fastest CAGR for the inertial measurement unit market during the forecast period. Consumer and enterprise-grade IMUs are examples of commercial grade IMUs. Consumer-grade IMUs are utilised in low-end applications like phones, tablets, car airbag systems, and so on, whereas enterprise-grade IMUs are employed in small UAVs.
A gyroscope is used to determine the orientation and quantify the angular motion of UMVs, aircraft, UGVs, and UAVs utilising the earth's gravity. An accelerometer is a significant component of an aircraft since it measures non-gravitational acceleration and velocity. Magnetometers are commonly used in conjunction with gyroscopes and accelerometers to improve the accuracy of attitude estimation.
Autonomous vehicles are outfitted with a variety of sensors, including a motion sensor, to collect data on their properties and control movements. In autonomous vehicles, inertial measurement units are used to determine location and orientation. Furthermore, such vehicles are outfitted with a variety of electronic technologies, including backup assistance systems, autonomous braking systems, front collision warning systems, and others. Inertial measuring units are used to regulate the majority of these electronic systems. As a result, increased investments in self-driving cars will contribute to the growth of the worldwide inertial measurement unit market.
By Grade
Commercial Grade
Marine Grade
Navigation Grade
Space Grade
Tactical Grade
By Component
Accelerometers
Gyroscopes
Magnetometers
By Technology
Fiber Optics Gyro
Mechanical Gyro
Ring Laser Gyro
MEMS
Others
By Application
Aircraft
Military Armored Vehicles
Missiles
Marine
Unmanned Ground Vehicles (UGVs)
Unmanned Marine Vehicles (UMVs)
Consumer Electronics
Automotive
Survey Equipment
.png)
Need any customization research on Inertial Measurement Unit (IMU) Market - Enquiry Now
REGIONAL ANALYSIS
Because of the presence of prominent key players such as Northrop Grumman Corporation, General Electric Company, United Technologies Corporation, and Honeywell International Inc. in the region and their high investments in IMU development, the North American regional market is expected to dominate the global market by holding the largest Market Share during the forecast period. Furthermore, the Asia-Pacific market is expected to grow at a rapid pace throughout the research period. Because of increased demand for new aircraft and rising defence spending in developing countries such as India and China, this area is driving market expansion. Furthermore, the Middle East and Africa's Inertial Measurement Unit Market is expanding as a result of rising defence spending in nations such as Israel, the United Arab Emirates, and Saudi Arabia. Furthermore, the Latin American regional market is booming due to the widespread usage of UAVs for monitoring and controlling illicit migration, drug trafficking, and deforestation.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Thales Group, Parker Hannifin Corp, Northrop Grumman Corporation., Sensonor, Safran, GENERAL ELECTRIC, Gladiator Technologies, Honeywell International Inc., Bosch Sensortec GmbH, STMicroelectronics and Other Players
Parker Hannifin Corp-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 24.60 Billion |
| Market Size by 2030 | US$ 69.68 Billion |
| CAGR | CAGR of 13.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Grade (Commercial Grade, Marine Grade, Navigation Grade, Space Grade, and Tactical Grade) • By Component (Accelerometers, Gyroscopes, Magnetometers) • By Technology (Fiber Optics Gyro, Mechanical Gyro, Ring Laser Gyro, MEMS, and Others) • By Application (Aircraft, Military Armored Vehicles, Missiles, Marine, Unmanned Aerial Vehicles (UAVs), Unmanned Ground Vehicles (UGVs), Unmanned Marine Vehicles (UMVs), Consumer Electronics, Automotive, and Survey Equipment) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Thales Group, Parker Hannifin Corp, Northrop Grumman Corporation., Sensonor, Safran, GENERAL ELECTRIC, Gladiator Technologies, Honeywell International Inc., Bosch Sensortec GmbH, STMicroelectronics. |
| DRIVERS | • Increased demand for missiles as a result of geopolitical unrest and the changing nature of warfare • Miniaturized components are available at reasonable prices. |
| RESTRAINTS | • High-end IMUs have operational complications. • Defense budgets of affluent countries fluctuate |
An inertial measurement unit is an electronic device that uses accelerometers, gyroscopes, and magnetometers to detect velocity, angular rate, direction, and gravitational forces.
The market size of the Inertial Measurement Unit Market was valued at USD 24.60 billion in 2022.
The growth rate of the Inertial Measurement Unit Market is 13.9% over the forecast period 2023-2030.
The key players of the Inertial Measurement Unit Market are Thales Group, Parker Hannifin Corp, Northrop Grumman Corporation., Sensonor, Safran, GENERAL ELECTRIC, Gladiator Technologies, Honeywell International Inc., Bosch Sensortec GmbH, STMicroelectronics.
Asia-Pacific region is expected to grow with highest CAGR during the forecast period.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Inertial Measurement Unit Market Segmentation, by Grade
8.1 Commercial Grade
8.2 Marine Grade
8.3 Navigation Grade
8.4 Space Grade
8.5 Tactical Grade
9. Inertial Measurement Unit Market Segmentation, by Component
9.1 Accelerometers
9.2 Gyroscopes
9.3 Magnetometers
10. Inertial Measurement Unit Market Segmentation, by Technology
10.1 Fiber Optics Gyro
10.2 Mechanical Gyro
10.3 Ring Laser Gyro
10.4 MEMS
10.5 Others
11. Inertial Measurement Unit Market Segmentation, by Application
11.1 Aircraft
11.2 Military Armored Vehicles
11.3 Missiles
11.4 Marine
11.5 Unmanned Aerial Vehicles (UAVs)
11.6 Unmanned Ground Vehicles (UGVs)
11.7 Unmanned Marine Vehicles (UMVs)
11.8 Consumer Electronics
11.9 Automotive
11.10 Survey Equipment
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Thales Group
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Parker Hannifin Corp
13.3 Northrop Grumman Corporation.
13.4 Sensonor
13.5 Safran
13.6 GENERAL ELECTRIC
13.7 Gladiator Technologies
13.8 Honeywell International Inc.
13.9 Bosch Sensortec GmbH
13.10 STMicroelectronics
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Aircraft Heat Exchanger Market was valued at US$ 1.64 billion in 2022 and is expected to reach USD 3.39 billion by 2030 and grow at a CAGR of 9.5% over the forecast period 2023-2030.
The Smart Weapons Market Size was valued at USD 16.96 billion in 2022 and is expected to reach USD 28.28 billion by 2030 with a growing CAGR of 6.6% over the forecast period 2023-2030.
The Aircraft Lightning Protection Market Size was valued at USD 5.57 billion in 2022 and is expected to reach USD 9.00 billion by 2030 with a growing CAGR of 6.18% over the forecast period 2023-2030.
The Aircraft Flight Control Systems Market size was valued at USD 14 Billion in 2022 & is estimated to reach USD 27.28 Million by 2030 with a growing CAGR of 8.7% between 2023 and 2030.
The Precision Guided Munition Market is expected to increase at a CAGR of 5.4% percent from 2023 to 2030, from USD 36.67 billion in 2022 to USD 55.86 billion in 2030.
The Aircraft Doors Market Size was valued at USD 5.16 billion in 2022 and is expected to reach USD 9.06 billion by 2030 with a growing CAGR of 7.29% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
