News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
(USGovernment-News.Com, September 09, 2017 ) The report "Inertial Navigation System Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (Mechanical, Ring Laser, Fiber Optic, Mems), Application (Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022", The inertial navigation system market is projected to grow from an estimated USD 9.54 Billion in 2017 to USD 12.26 Billion by 2022, at a CAGR of 5.15% during the forecast period. Increase in aircraft orders, increased space research leading to the use of a greater number of launch vehicles, and increase in satellite launches are some of the key factors driving the inertial navigation system market.
Early buyers will receive 10% customization on this report.
Based on application, the space launch vehicle segment in the inertial navigation system market is estimated to be the fastest-growing market during the forecast period
The space launch vehicle segment in the inertial navigation system market is estimated to be the fastest-growing segment in the inertial navigation system market during the forecast period. This growth is attributed to an increase in satellite launches and increasing space research and exploration activities.
Based on grade, the navigation grade segment in the inertial navigation system market is projected to grow at the highest CAGR from 2017 to 2022
Based on aircraft type, the navigation grade segment is projected to grow at the highest CAGR during the forecast period. Increase in aircraft orders is one of the key factors driving the inertial navigation system market. According to the Boeing Current Market Outlook, the demand for commercial aircraft is expected to grow significantly in future.
Based on technology, the MEMS segment in the inertial navigation system market is projected to grow at a higher CAGR from 2017 to 2022
Based on technology, the MEMS segment in the inertial navigation system market is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to technological advancements in MEMS-based INS that are resulting in its increased applicability in small aircraft and unmanned applications.
Asia Pacific is expected to be the fastest-growing market for the inertial navigation system during the forecast period
Asia Pacific is expected to be the fastest-growing market during the forecast period. The growth is largely due to an increase in defense budgets of emerging countries such as India and China; the backing provided by these countries to develop homegrown technologies for the manufacture of missiles, fighter aircraft, and UAVs; and rise in commercial aircraft manufacturers in the region.
Major players operating in the inertial navigation system market include Honeywell International Inc. (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), Rockwell Collins, Inc. (US), and Thales Group (France). These key players offer various technologies such as Ring Laser Gyro (RLG), Fiber Optics Gyro (FOG), and MEMS in inertial navigation systems. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and the Asia Pacific
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
