Inertial Navigation System Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032

Rising investment in aerospace & defense industry, increased adoption of miniaturized components, and rising demand for highly accurate and reliable inertial navigation systems are the key factors driving the growth of the global inertial navigation system market. Inertial navigation system is a navigation device used to calculate position, orientation, and velocity of a moving object without external references. It consists of accelerometer, gyroscope, and internal computer to calculate orientation, location and velocity.

The inertial navigation systems is extensively used across aerospace and defense applications such as ships, submarines, missiles, spacecrafts, and aircrafts. Increased investment in development of advanced communication systems for defense applications has significantly contributed towards the growth of the global inertial navigation system market. Rising demand for advanced aircrafts, increased investment in development of highly accurate missile systems, and proliferation of unmanned vehicles across aerial, marine and ground defense applications is expected to contribute towards the growth of the global inertial navigation system market during the forecast period.

North America contributed the largest share to the global inertial navigation systems market in 2019 and is expected to witness prominent growth during the forecast period. Increased investment in military & defense, presence of leading aircraft and unmanned defense vehicle manufacturers, and focused research & development activities to strengthen defense forces are the key attributes contributing towards the growth of North America inertial navigation system market.

Europe is expected to held a prominent share of the global inertial navigation system market throughout the forecast period. Asia Pacific is expected to be the fastest growing geography during the forecast period owing to increased military & defense spending and expansion of aerospace industry across major countries.

Inertial Navigation System Market Share Analysis, by Geography (2022)

The report titled “Inertial Navigation System Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global inertial navigation system market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.

The global inertial navigation system market is segmented on the basis of component, technology, grade, applications, and geography. Based on component, the global inertial navigation system market is segmented into accelerometers, gyroscopes, controllers, and others. Based on technology, the global inertial navigation system market is segmented into mechanical gyro, ring laser gyro, fiber optics gyro, micro-electromechanical system (MEMS), and others. Based on grade, the global inertial navigation system market is segmented into marine grade, navigation grade, tactical grade, space grade, commercial grade, and others. Based on application, the global inertial navigation system market is segmented into aircrafts, unmanned aerial vehicles, unmanned ground vehicles, unmanned marine vehicles, space launch vehicles, missiles, ships, and others. Based on geography, the global inertial navigation system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on inertial navigation system. Further, market share of prominent companies in the global inertial navigation system market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the inertial navigation system companies.

The global inertial navigation system market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the inertial navigation system business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global inertial navigation system market.

Major players active in the global inertial navigation system market include General Electric, Gladiator Technologies, Honeywell International Inc., Lord Microstrain (Parker Hannifin Corp), Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran, Teledyne Technologies Incorporated, Thales Group, Trimble Inc., and VectorNav Technologies, LLC.

Market Segmentation:

By Component 

• Accelerometers
• Gyroscopes
• Controllers
• Others

By Technology

• Mechanical Gyro
• Ring Laser Gyro
• Fiber Optics Gyro
• Micro-electromechanical System (Mems)
• Others

By Grade

• Marine Grade
• Navigation Grade
• Tactical Grade
• Space Grade
• Commercial Grade
• Others

By Applications

• Aircrafts
• Unmanned Aerial Vehicles
• Unmanned Ground Vehicles
• Unmanned Marine Vehicles
• Space Launch Vehicles
• Missiles
• Ships
• Others