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Inertial Measurement Unit Market

Inertial Measurement Unit Market 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), and by Region, and Global Forecast 2022-2028

Report Id: SNS/A&D/2472 | July 2022 | Region: Global | 129 Pages

Report Scope & Overview:

Inertial Measurement Unit Market Size was valued at USD 21.6 billion in 2021 and is expected to reach USD 53.71 billion by 2028, and grow at a CAGR of  13.9% over the forecast period 2022-2028.

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.

Inertial Measurement Unit Market Revenue Graph

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.

MARKET PLAYER

Thales Group, Parker Hannifin Corp, Northrop Grumman Corporation., Sensonor, Safran, GENERAL ELECTRIC, Gladiator Technologies, Honeywell International Inc., Bosch Sensortec GmbH, STMicroelectronics.

MARKET SEGMENTS:

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 Aerial Vehicles (UAVs)

  • Unmanned Ground Vehicles (UGVs)

  • Unmanned Marine Vehicles (UMVs)

  • Consumer Electronics

  • Automotive

  • Survey Equipment

Inertial Measurement Unit Market Segment Chart

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

Inertial Measurement Unit Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 21.6 Billion
Market Size by 2028 US$ 53.71 Billion
CAGR CAGR of 13.9% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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


Frequently Asked Questions (FAQ) :


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

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Inertial Measurement Unit Market , 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 , by Component

9.1 Accelerometers

9.2 Gyroscopes

9.3 Magnetometers

 

10.Inertial Measurement Unit Market , 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 , 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

 

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Secondary Research

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