Global Inertial Navigation System Market Overview:
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.
As per latest study released by AMA Research, 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 2030.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Trend of Miniaturization and Commercial Driverless Vehicles
Market Growth Drivers:
Continuously Increasing Demand for Aircraft, Geopolitical Instabilities and Changing Nature of Warfare results in Rising Demand for Missiles and High Accuracy in Navigation Rising the Demand for Inertial Navigation System
Challenges:
Increasing Propagation Errors
Restraints:
High Operational Complexity Associated with High-End Inertial Navigation System
Opportunities:
Integration of Inertial Navigation System with Many Other Systems and Availability of Miniaturized Components in Cheaper Price
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market
Some of the key players profiled in the report are 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). The Players having a strong hold in the market are Honeywell International Inc., Northrop Grumman Corporation, Safran Electronics & Defense. Additionally, following companies can also be profiled that are part of our coverage like Trimble Navigation Ltd. (United States) and LORD MicroStrain (United States). Analyst at AMA Research see United States and European Players to retain maximum share of Global Inertial Navigation System market by 2030. Considering Market by Component , the sub-segment i.e. Accelerometers will boost the Inertial Navigation System market. Considering Market by Technology , the sub-segment i.e. Mechanical Gyro will boost the Inertial Navigation System market. Considering Market by Application , the sub-segment i.e. Aircraft will boost the Inertial Navigation System market. Considering Market by Grade, the sub-segment i.e. Marine Grade will boost the Inertial Navigation System market. Considering Market by End User, the sub-segment i.e. Automotive will boost the Inertial Navigation System market.
Latest Market Insights:
On October 26, 2023, Honeywell and Northrop Grumman announced a collaboration to develop and manufacture advanced inertial navigation systems for space applications.
On January 18, 2024, Novotech announced the launch of its new GNSS-aided inertial navigation system, the TANS-X9, designed for high-precision positioning and navigation applications in challenging environments.
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.
What Can be Explored with the Inertial Navigation System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Inertial Navigation System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Inertial Navigation System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Inertial Navigation System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Inertial Navigation System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Inertial Navigation Systems, System Integrators, Raw Material Suppliers, Sensor Manufacturers, Technology Providers and Aircraft Regulatory Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.