According to a new market research report the "Inertial Navigation System Market by Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade), Technology (Mechanical, Fiber optic gyro (FOG), Ring laser gyro (RLG), Micro-Electro-Mechanical Systems (MEMS), Hemispherical Resonator gyro (HRG), and Vibrating gyro), Application (Air, Land, and Naval Platforms), Geography (North America, Europe, Asia-Pacific, the Middle East, and ROW) - Forecast & Analysis to 2014 - 2019", published by MarketsandMarkets, is estimated at $2.75 Billion in 2014 and is expected to register a CAGR of 10.98% to reach$4.63 Billion by 2019.
The inertial navigation system market is estimated at $2.75 billion in 2014 and is expected to reach $4.63 billion by 2019. The inertial navigation system market for the defense segment is estimated at $1.98 billion in 2014 and is expected to reach $3.33 billion by 2019. The inertial navigation system market for the commercial segment is estimated at $770 million in 2014 and is expected to reach $1.29 billion by 2019.
The key growth regions will be Asia-Pacific, the Middle East, and North America. The increasing demand for unmanned vehicles such as unmanned aerial vehicle (UAV), remotely operated vehicle (ROV), and autonomous underwater vehicle (AUV) is driving the inertial navigation system market. An integrated navigation system such as GNSS/INS and GPS/INS has superior performance characteristics, as compared to standalone global navigation satellite system (GNSS) or global positioning system (GPS). These embedded technologies are also driving the inertial navigation system market.
Browse 61 market data Tables 48 Figures spread through 200 Pages and in-depth TOC on "Inertial Navigation System Market"
Early buyers will receive 10% customization on this report.
This report provides a market analysis of the Inertial Navigation System Market for the next five years. It provides an overview of drivers, challenges, and restraints impacting the industry. It also discusses about the industry, market, and technology trends that are currently prevailing in the inertial navigation system market. It tracks, analyses, and lays out the market size of the major spenders in each region and analyses the market by defense and commercial applications. It also provides information about the leading players and their market share in inertial navigation system.
According to Market Research, the inertial navigation system market is dominated by Asia-Pacific, the Middle East, and North American regions. Increase in defense budgets of countries like China, India, and South Korea will fuel the growth of the INS market in the defense segment. Though North America is a mature market but low cost micro-electro-mechanical systems (MEMS) technology and increasing demand of inertial navigation systems in naval and commercial application is driving the market in this region.
In the commercial segment, the increase in passenger travel demand in countries like India, China, the Middle East, and other Asia-Pacific countries is the reason for growth in the aircraft market. As INS is one of the necessities in every aircraft for efficient navigation, its market is growing with the market for aircraft. The demand for INS is also increasing due to advancement in technology; high availability of low cost MEMS gyros have made it cheaper, compact, and affordable. The integration of GPS and INS has become more common in aviation.
This report Inertial Navigation System Market also provides the details of financial positions, key products, key developments, and the unique selling point of the major players in this market. The market is segmented by technology which includes mechanical, ring laser gyro (RLG), fiber optic gyro (FOG), micro-electro-mechanical systems (MEMS), hemispherical resonator gyro (HRG), and vibrating gyro based inertial navigation systems. It also covers the market of inertial navigation system by their application in airborne, land, and naval platforms. Inertial Navigation System Market is also segmented by product type which includes marine grade, navigation grade, tactical grade, and commercial grade navigation systems.
Recent advancements in micro electromechanical system (MEMS) technology have made it possible to manufacture small, light, and low cost inertial navigation systems. The increased use of satellite navigation for commercial application will also fuel the growth of the INS market in future. The increasing demand for unmanned vehicles such as unmanned aerial vehicle (UAV), remotely operated vehicle (ROV), and autonomous underwater vehicle (AUV) is driving the inertial navigation system market. The integrated navigation system such as GNSS/INS and GPS/INS has superior performance characteristics as compared to standalone global navigation satellite system (GNSS) or global positioning system (GPS). These embedded technologies will be very promising for the growth of Inertial Navigation System Market in the future.
The Asia-Pacific, the Middle East, and North American regions will prove to be emerging markets for inertial navigation systems. Countries such as the U.S., South Korea, China, India, Japan, Israel, and Saudi Arabia will show reliable levels of growth.
Northrop Grumman, Honeywell Inc., and Sagem (Safran) will be the market leaders that occupy a significant market share of the inertial navigation system market.
Browse Related Reports
Small UAV Market by Trends (Mini, Micro, Hand Held UAV), by Propulsion (Hydrogen, Electric, Solar, Lithium ION), by Payload (NBC Detection, Telemetry Systems, Software Systems, Meteorology), by Application (Civil, Military, Security), by Region, by Country - Global Forecast to 2014 - 2019
Unmanned Underwater Vehicles Market by product [ROV (Remotely Operated Vehicles) and AUV (Autonomous Underwater Vehicles)], Application (Defense, Oil and Gas, Scientific Research) & by Geography (North America, Europe, Asia-Pacific, TheMiddle-East, Latin America, ROW) - Forecasts & Analysis 2014-2019
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT, and aerospace & defence.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
17304, Preston Road,
Suite 800, Dallas, TX 75252
Visit MarketsandMarkets Blog@ http://mnmblog.org/market-research/aerospace-defence
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets