SNS Insider Black Friday Offer
Inertial Navigation System Market

Inertial Navigation System (INS) Market by Technology (Mechanical, Ring Laser, Fiber Optic, MEMs), by Grade (Marine, Navigation, Tactical, Space, Commercial), by Application (Aircraft, Missile, Marine, UAV, UGV, UMV), by Component (Accelerometers, Gyroscopes, Algorithms & Processors, Wireless), by Region, and Global Forecast 2022-2028

Report Id: SNS/A&D/2489 | July 2022 | Region: Global | 129 Pages

Report Scope & Overview:

Inertial Navigation System Market Size was valued at USD 11.69 billion in 2021 and expected to reach USD 16.66 billion by 2028, and grow at a CAGR of  5.19% over the forecast period 2022-2028.

The Inertial Navigation System (INS) is a navigation device that combines accelerometer and gyroscope readings to determine the velocity and position of a vehicle. The increase of the vehicle segment and utilisation of cars helps the Inertial Navigation System Market. The market is expanding and has demonstrated moderate growth trends in recent years. The Market is expected to expand in the approaching years as well. When an item is in motion, the INS monitors the gravitational force acting on it, as well as its angular velocity and directional position. The Inertial Navigation System collaborates with current accelerometers, gyroscopes, and sensors.

Inertial Navigation System Market Revenue Graph

The associated Inertial Navigation System Market is predicted to expand since sensor technology has grown into an accurate and fast technology as a result of recent advancements. The INS is utilised not just by aeroplanes but also by military aviation for missile launches. The INS is also utilised in commercial games and medical devices that use GPS tracking. The Inertial Navigation System Industry will benefit in the future as the use of inertial reference systems expands.

MARKET DYNAMICS:

KEY DRIVERS:

  • Missile demand has increased as a result of geopolitical instabilities and the changing nature of warfare.

  • Miniaturized Components Are Available at Reasonable Prices

RESTRAINTS:

  • High-End Instability Is Associated With Operational Complexity

  • Defense budget cuts in developed countries

OPPORTUNITY:

  • MEMS-Based Insights: Technological Advances

  • Commercial Driver-less Vehicle Development

CHALLENGES:

  • Operational complexity associated with inertial navigation systems, as well as a fall in defence budgets in several large countries

  • To eliminate measurement errors, these joints must be frictionless. The inaccuracy due to friction grows with repeated use and wear and tear of these systems.

IMPACT OF COVID-19:

The COVID 19 epidemic harmed the Inertial Navigation System Market, as it did all other industrial segments. As the travel sector suffered as a result of the epidemic and subsequent shutdown, the market shrunk in size and application. The industrial industry, including the Inertial Navigation System Market, experienced a downturn in production and sales. As a result, the growth rate of the Inertial Navigation System Market slowed during the epidemic.

However, when the production of planes and missiles for various purposes acquires traction in the post-pandemic age, the Market will also witness a recovery. The military and naval fields will see a greater use of inertial navigation system aircraft.

The implementation of a more advanced ship inertial navigation system will also result in strong overall market growth trends. As a result, the Market will expand throughout the predicted period.

The gyroscopes sector is expected to account for the highest share of the total market in 2021. The introduction of efficient, cost-effective, and compact gyroscopes is expected to boost demand for gyroscopes in the inertial navigation system market. Gyroscopes' popularity can be linked to its ability to address high-level motion sensing and navigational help. Gyroscopes can also detect angular velocity in three dimensions. Fiber Optics Gyros (FOGs), Ring Laser Gyros (RLGs), mechanical gyros, Micro-Electro-Mechanical System (MEMS), vibrating gyros, and Hemispherical Resonator Gyros are some of the most prevalent gyroscope varieties used in inertial navigation systems (HTGs).

The space launch vehicles segment is expected to account for the highest proportion of the inertial navigation system market in 2021 based on application. The increased deployment of space launch vehicles, such as tiny satellites, around the world is expected to boost the demand for highly reliable and accurate inertial navigation systems, which will assure the vehicle's safety. A launch vehicle is a rocket that transports spacecraft, satellites, and payload from the earth's surface into outer space. Space launch vehicles range in size from a modest lift launch vehicle to a super-heavy lift vehicle, depending on their capabilities.

Furthermore, the increased frequency of satellite launches for diverse uses such as research and development, scientific study, and communication is expected to stimulate demand for inertial navigation systems in these space launch vehicles.

MARKET PLAYER

Honeywell International Inc., Safran, GENERAL ELECTRIC, Trimble Inc., Collins Aerospace, Gladiator Technologies, Northrop Grumman Corporation., Thales Group, Raytheon Technologies Corporation, Teledyne Technologies Incorporated.

MARKET SEGMENTS:

by Technology:

  • Mechanical

  • Ring Laser

  • Fiber Optic

  • MEMs

by Grade:

  • Marine

  • Navigation

  • Tactical

  • Space

  • Commercial

by Application:

  • Aircraft

  • Missile

  • Marine

  • UAV

  • UGV

  • UMV

by Component:

  • Accelerometers

  • Gyroscopes

  • Algorithms & Processors

  • Wireless

Inertial Navigation System Market Segment Chart

REGIONAL ANALYSIS:

The inertial navigation system market analysis by region is required to comprehend revenue distribution and competitor existence in various parts of the world. The global inertial navigation system market is divided into five major regions: North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. The largest markets for inertial navigation systems are in North America, Europe, and Asia Pacific. While all regions will exhibit positive market trends, the North American region will continue to be the dominating regional market in terms of revenue and competitors. Major inertial navigation system manufacturers are based in North America.

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 Navigation System Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 11.69 Billion
Market Size by 2028 US$ 16.66 Billion
CAGR CAGR of 5.19% 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 Technology (Mechanical, Ring Laser, Fiber Optic, MEMs)
• By Grade (Marine, Navigation, Tactical, Space, Commercial)
• By Application (Aircraft, Missile, Marine, UAV, UGV, UMV)
• By Component (Accelerometers, Gyroscopes, Algorithms & Processors, Wireless)
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 Honeywell International Inc., Safran, GENERAL ELECTRIC, Trimble Inc., Collins Aerospace, Gladiator Technologies, Northrop Grumman Corporation., Thales Group, Raytheon Technologies Corporation, Teledyne Technologies Incorporated.
DRIVERS • Missile demand has increased as a result of geopolitical instabilities and the changing nature of warfare.
• Miniaturized Components Are Available at Reasonable Prices
RESTRAINTS • High-End Instability Is Associated With Operational Complexity
• Defense budget cuts in developed countries


Frequently Asked Questions (FAQ) :


Table of Content:

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 Navigation System Market, by Technology

8.1 Mechanical

8.2 Ring Laser

8.3 Fiber Optic

8.4 MEMs

 

9.Inertial Navigation System Market, by Grade

9.1 Marine

9.2 Navigation

9.3 Tactical

9.4 Space

9.5 Commercial

 

10.Inertial Navigation System Market, by Application

10.1 Aircraft

10.2 Missile

10.3 Marine

10.4 UAV

10.5 UGV

10.6 UMV

 

11.Inertial Navigation System Market, by Component

11.1 Accelerometers

11.2 Gyroscopes

11.3 Algorithms & Processors

11.4 Wireless

 

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 Honeywell International Inc.

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Safran

13.3 GENERAL ELECTRIC

13.4 Trimble Inc.

13.5 Collins Aerospace

13.6 Gladiator Technologies

13.7 Northrop Grumman Corporation.

13.8 Thales Group

13.9 Raytheon Technologies Corporation

13.10 Teledyne Technologies Incorporated.

 

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.

Secondary Research

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.