Market Forecast
Global Inertial Navigation System (INS) Market is projected to be valued at USD 14.54 Billion by 2025, expanding at a CAGR of 5.2% between 2019 and 2025. The increasing demand for new aircraft with advanced navigation systems is primarily driving the growth of the market. Furthermore, increasing demand INS for UAVs, UGVs, and UMVs is driving the growth of the market.
Market USP
The growing demand for UAVs integrated with INS for military tactical missions is expected to boost the growth of the market.
Growth Opportunities in the Market
Microelectromechanical Systems (MEMS) Gyro segment is expected to witness a higher growth in the market: The MEMS Gyro segment is expected to grow at a higher CAGR during the review period. This is due to the increasing use of this gyro in unmanned vehicles such as UAVs, UMVs, and UGVs. The performance, vibration robustness, and temperature stability of MEMS gyro enhance the drone flying and navigation experience.
Military Strategic Grade segment is expected to register the highest growth in the market: The military-strategic grade segment is expected to grow at the highest CAGR during the review period. The increasing use of military strategic grade INS due to its various advantages such as accuracy in severe environments, ability to operate in high temperature and vibration conditions, and rugged design.
Aircraft segment accounted for the largest market share in 2018: The aircraft segment is also expected to grow at the highest CAGR during the forecast period from 2019 to 2025. The INS is an integral part of an aircraft. This is because in bad weather or in poor visibility conditions landing becomes virtually impossible. Thus, the integrated Global Positioning System (GPS) and INS are used for the automatic landing of aircraft.
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Key Players
General Electric Company (US)
Gladiator Technologies Inc. (US)
Honeywell International Inc. (US)
Lord Microstrain (US)
Northrop Grumman Corporation (US)
Safran Electronics & Defense (France)
Teledyne Technologies Inc. (US)
Thales Group (France)
Trimble Navigation Ltd. (US)
United Technologies Corporation (US)
Vectornav Technologies LLC (US)