Inertial Navigation System Market Scope
Inertial Navigation System (INS) is a combination of inertial measurement unit or inertial reference unit and navigation computer. Here an inertial measurement unit or inertial reference unit has accelerometers and gyros that are responsible for providing acceleration and angular velocity measurements. Whereas, navigation computers uses acceleration and angular velocity measurements for corresponding calculations. Continuously increasing demand for aircraft and high accuracy in navigation are the factors that have been supplementing the growth of the market. Additionally, Geopolitical Instabilities and Changing Nature of Warfare is acting as a driver for the market. However, high operational complexity associated with the high-end inertial navigation system and increasing propagation errors has been limiting the growth of the market. Moreover, integration of the inertial navigation system with many other systems and availability of miniaturized components in cheaper price can be considered as an opportunity for the market.
The market study is segmented and major geographies with country level break-up. According to AMA, the Global Inertial Navigation System market is expected to see growth rate of 6.21% and may see market size of USD16.07 Million by 2024.
The Players having a strong hold in the market are Honeywell International Inc., Northrop Grumman Corporation, Safran Electronics & Defense. Research Analyst at AMA estimates that United States and European Players will contribute to the maximum growth of Global Inertial Navigation System market throughout the predicted period.
Honeywell International Inc. (United States), Northrop Grumman Corporation (United States), Safran Electronics & Defense (France), Thales Group (France), The Raytheon Company (United States), General Electric Company (United States), Rockwell Collins Inc. (United States), Teledyne Technologies Inc. (United States), VectroNav Technologies LLC. (United States) and iXBlue SAS (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Trimble Navigation Ltd. (United States) and LORD MicroStrain (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Inertial Navigation System market by Type, Application and Region.
On the basis of geography, the market of Inertial Navigation System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Manufacturers of Inertial Navigation Systems, System Integrators, Raw Material Suppliers, Sensor Manufacturers, Technology Providers and Aircraft Regulatory Bodies
In December 2018, iXblue (Global player engaged in proving navigation, positioning and underwater imaging solutions) had launched a new global subsea positioning system named as Canopus. The new product offers subsea positioning operations along with a wide range of sensors and subsystems that are responsible for providing high-level performance, open architecture and unequaled.
According to the Federal Aviation Administration (FAA), the inertial navigation system must work properly, no presence of unsafe features and hazardous causes no derogation of performance of the system in the ground facility and other aircraft. Federal Aviation Administration will not approve if the inertial navigation system doesn’t follow these above specifications.
- Increasing Trend of Miniaturization and Commercial Driverless Vehicles
- Continuously Increasing Demand for Aircraft
- Geopolitical Instabilities and Changing Nature of Warfare results in Rising Demand for Missiles
- High Accuracy in Navigation Rising the Demand for Inertial Navigation System
- Integration of Inertial Navigation System with Many Other Systems
- Availability of Miniaturized Components in Cheaper Price
- High Operational Complexity Associated with High-End Inertial Navigation System
- Increasing Propagation Errors
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