Product Code: 51712
The industrial inertial systems market is expected to register a CAGR of 11.2% during the forecast period (2020-2025). In defense industry applications like missile guidance, control, and targeting, precision-guided munitions are the primary applications are boosting the growth of the market in this segment. The defense expense across the globe has increased owing to the increased terror threat.
- The advancement of global lifestyle has resulted in the demand for equipment with greater ease of usability and has enabled the use of motion-sensing technology which uses inertial sensors extensively. This is a key driving factor for the market and is anticipated to play an important role in defining the market for the next few years.
- In the oil and gas industry, exploration and survey are one of the most important tasks. Computers, with the help of industrial inertial sensors and other supplementing equipment, aid the exploration activity in the ocean. In deep oceans, getting real-time measurements of various parameters is critical and important for a company to decide to go ahead or drop the activity. Industrial inertial systems help the companies get data and take decisions on the findings it gets and therefore helps to cut sink cost related activity. The drive for a cost-effective approach in the industry is expected to drive the use of industrial inertial systems will keep increasing.
- The tremendous rise in unmanned vehicles in land and air across various applications in both civilian and defense applications has increased the need for complex navigational systems, which include inertial sensors and complements the market demand.
Scope of the Report
An inertial system is an electronic system that continuously monitors the position, velocity and acceleration of a vehicle, object, submarine, missile, or an airplane and provides navigational data or control without the need for communicating with a base station. The basic components of an inertial system are gyroscopes, accelerometers, Inertial Measurement Unit (IMU) and a computer. The gyroscopes provide fixed reference directions or turning rate measurements, and accelerometers measure changes in the velocity of the system, and both of these combine to form an IMU.
Key Market Trends
Aerospace Sector to Witness High Growth
- The focus of major firms in present competition, across the world, is shifting from manned to unmanned transportation. Researches have been picked up in the past few years and today unmanned vehicles are being used for various applications. As the technology evolves further, unmanned vehicles are expected to replace human-driven vehicles. Food delivery is being tested with autonomous navigating bots which are fixed with IMU units.
- Tactical IMU with advanced gyroscope offers low random angle walk values, outstanding bias stability and superior vibration performance in highly miniaturized packages to enhance UAV flight performance. These technical capabilities have assisted in the industrial adoption of the products equipped with such system and assist the market growth.
- Inertial solutions enable unmanned air vehicles to achieve excellent inertial sensing, vehicle tracking, aerial monitoring and surveillance, aerial deliveries (drones), crop surveying, monitoring of assets like warehouses, pipelines, power transmission lines, etc., which is going to boost the market growth. Improvement in sensing technology has been a great enabler in the market.
- Since unmanned aerial vehicles are controlled by autopilot i.e. without any human intervention, inertial navigation systems play a very crucial role in guiding the autopilot controller to ensure that they travel along the defined path. With the increasing unmanned aerial vehicle (UAV) pilot licenses, it is evident that the demand for UAV's is increasing and hence boosting the market growth forward.
North America to Hold the Largest Market Share
- North America holds the largest market share in the industrial inertial systems market. The primary demand for the inertial systems arises from the aerospace and marine industry for both commercial and defense purposes. The early regulatory framework creation, complemented with the amendments to suit the emerging need has been an enabler in improved investment and has supported adoption in the industry.
- The United States allocates the maximum budget for defense spending across the world. Moreover, the increase in military spending coupled with the steady growth in aerospace and land-based applications in the United States is expected to drive the market further.
- Also, the strong increase in the production of aircraft in this region drives the market for industrial inertial systems. The huge aerospace industry of the United States which is the largest in the world attracts many foreign firms to the United States aerospace market, which directly increases the demand for industrial inertial systems market over the forecast period.
The industrial inertial sensors market is competitive owing to the presence of multiple firms operating in national as well as international boundaries. The market appears to be mildly concentrated moving towards the consolidation stage with some of the key strategies adopted by the major players are product innovation and mergers and acquisitions. Some of the major players in the market are Systron Donner Inertial, MEMSIC, Trimble Navigation among others. research and development expenses in the market are higher and is driven by the end-user application and therefore drives collaboration in research stages.
- April 2018 - Aeron Systems, the developer and manufacturer of Inertial Navigation Systems, launched Pollux, its latest offering in the INS range of products, Pollux combines Aeron's proprietary Kalman filter based parameter estimation engine with high-speed processing power to deliver position, ground speed, and orientation information at high update rate.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 The Rapid Rise of Unmanned Vehicles in Both Defense and Civilian Applications
- 4.3.2 Technological Advancement Enabling More Effective Components at a Smaller and Lighter Size
- 4.4 Market Restraints
- 4.4.1 Integration Drift Error is a Major Concern in Navigation Systems
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Equipment
- 5.1.1 Gyroscopes
- 5.1.2 Accelerometers
- 5.1.3 Inertial Measurement Units
- 5.1.4 GPS/INS
- 5.1.5 Multi-Axis Sensors
- 5.2 By Application
- 5.2.1 Aerospace
- 5.2.2 Land
- 5.2.3 Marine
- 5.2.4 Subsea
- 5.3 By End-user Industry
- 5.3.1 Industrial OEM
- 5.3.2 Defense
- 5.3.3 Energy & Infrastructure
- 5.3.4 Transportation
- 5.3.5 Civil Aviation
- 5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Aeron Systems
- 6.1.2 MEMSIC Inc.
- 6.1.3 Systron Donner Inertial
- 6.1.4 Trimble Inc.
- 6.1.5 LORD Microstain Sensing Systems
- 6.1.6 Vectornav Technologies LLC
- 6.1.7 L3 Technologies
- 6.1.8 Ixblue SAS
- 6.1.9 SBG Systems SAS
- 6.1.10 Safran SA
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS