Inertial Systems Market Forecasts to 2028 – Global Analysis By Component (Attitude Heading and Reference Systems, Accelerometers, Magnetometer and Other Components), Platform (Space, Airborne, Ground and Maritime), Technology (Micro Electro Mechanical Sys

Inertial Systems Market Forecasts to 2028 – Global Analysis By Component (Attitude Heading and Reference Systems, Accelerometers, Magnetometer and Other Components), Platform (Space, Airborne, Ground and Maritime), Technology (Micro Electro Mechanical Systems (MEMS), Mechanical Gyro, Fibre Optics Gyro, Ring Laser Gyro and Other Technologies), Application and By Geography

According tStratistics MRC, the Global Inertial Systems Market is accounted for $12.68 billion in 2022 and is expected treach $19.58 billion by 2028 growing at a CAGR of 7.5% during the forecast period. An inertial system on land is a self-contained inertial navigation approach that uses accelerometer and gyroscope readings ttrack an object's position and orientation relative ta defined starting point, velocity, and orientation. This system consists of a global navigation satellite system (GNSS) receiver, an inertial measurement unit, or other motion-sensing sensors. These components work together tdetermine the exact data of an object. Furthermore, the INS includes a computing unit that analyses and tracks the measured data from inertial sensors.

Market Dynamics:

Driver:

Increased requirement for navigational accuracy

The necessity for exact position information, including altitude and orientation of military equipment, is critical in today's state of warfare. These parameters are required for effective target planning and implementation. Inertial navigation systems use sensors such as accelerometers and gyroscopes tprovide information about the position, orientation, and speed of a moving body. Because inertial navigation systems can offer exact location information, they are increasingly being used in the defence industry. As a result of the rising weaponry of the military throughout the world and the increased necessity for navigational accuracy, the market for inertial navigation systems has grown.

Restraint:

High cost associated with INS

An inertial navigation system is made up of numerous components and is widely utilised in defence applications such as ships, guided munitions, military, special purpose helicopters, fighter aircraft, submarines, and short, medium, and long-range missiles. As a result, the usage of INS in critical environment conditions necessitates regular maintenance. The cost of procurement, operation, and maintenance is significant with regular maintenance.

Opportunity:

Technological advancements in navigation

This market is driven by technological advancements in navigation, the growing aerospace industry, and the availability of solid and small components. Furthermore, rising technological breakthroughs in MEMS (micro-electro-mechanical systems) and the use of satellite navigation are twother reasons that are contributing tthe market's expansion. Because of the utilisation of MEMs, manufacturers have developed more cost-effective and efficient solutions, resulting in light, compact, and low-cost navigation systems.

Threat:

Error propagation

The operation of stable platform inertial navigation systems is dependent on several mechanical components at multiple joints. These joints must be frictionless tprevent any type of measurement inaccuracy. The performance of these systems is limited by friction error, which develops over time and system wear and tear. Noise, drifts, and friction can contribute tsome computer errors. MEMS inertial sensors, for example, have minimum mechanical parts that weigh only a few micrograms. Because of their small weight, these components may fail trespond tslight changes in orientation. As a result, measurement inaccuracy is generated by friction and drifts that spread over time.

Covid-19 Impact

The pandemic outbreak has resulted in a temporary ban on commercial activity. The disruption in the process leads tlimited availability of system components and a decrease in demand for unmanned vehicles for commercial operation such as testing of oil tanks, pipeline inspection, windmill inspection, and field mapping. Furthermore, during the lockdown, vital production units around the world are shut down. This has an impact on the development of inertial navigation system components, which consequently impedes the market's growth. The coronavirus's negative global consequences are already visible, and they will have a significant impact on the market in 2020.

The MicrElectrMechanical Systems (MEMS) segment is expected tbe the largest during the forecast period

The MicrElectrMechanical Systems (MEMS) segment is estimated thave a lucrative growth, Because of the greater integration of MEMS sensors in the navigation system. This is primarily done tincrease accuracy and minimise total system weight. MEMS sensors provide advantages such as low cost, high performance, high reliability, and light weight. Microelectromechanical system technology is advancing at the quickest rate due tthe increasing integration of MEMS sensors intnavigation systems.

The aerospace and defense segment is expected thave the highest CAGR during the forecast period

The aerospace and defense segment is anticipated twitness the fastest CAGR growth during the forecast period, because of the growing demand for innovative military solutions tboost the nation's safety and security. This demand will result in quick advancements in advanced missiles with the next generation of inertial navigation systems timprove performance on the Warfield. As a result of the increasing development of missiles and UAVs, the demand for INS for aerospace and defence applications is increasing.

Region with highest share:

North America is projected thold the largest market share during the forecast period. North America had the largest market share, with the United States contributing the most significantly. Because of the growing emphasis on oil exploration activities, the maritime sector is the dominant need for inertial systems in the region. Oil rig exploration requires high-performance gyroscopes, IMUs, and accelerometers tprovide a self-contained sensor system and extremely accurate platform stabilisation solutions.

Region with highest CAGR:

Asia Pacific is projected thave the highest CAGR over the forecast period. The increase is linked trising defence investments from emerging economies such as India, China, and others. China and India have expanded their defence spending and procurement of modern remotely operated vehicles for military applications. This growth is the result of growing defence investment by developing economies such as India and China.

Key players in the market

Some of the key players profiled in the Inertial Systems Market include Epson Europe Electronics GmbH, TDK Corporation, Bosch Sensortec GmbH, Analog Devices, Inc., STMicroelectronics, Kearfott Corporation, Honeywell International, Inc., VectorNav Technologies LLC, Northrop Grumman Corporation, Silicon Sensing Systems Limited, Honeywell International, Inc., Collins Aerospace, Meggitt Plc, IXBLUE and KVH Industries, Inc.

Key Developments:

In September 2020, Northrop Grumman Corporation announced that it had completed the critical design review (CDR) milestone for the embedded global positioning system (GPS) / Inertial Navigation System -Modernization, or EGI-M, program.

In August 2020, VectorNav Technologies, LLC introduced a novel miniature inertial measurement unit and GNSS/inertial navigation system products: The VectorNav Tactical Embedded.

In April 2020, Honeywell International Inc. announced that it had awarded a four-year contract worth USD 99.1 million from the U.S. Air Force tupdate the service branch’s embedded global positioning system/inertial navigation system.

In May 2019, Northrop Grumman Corporation has released SeaFIND (Sea Fiber Optic Inertial Navigation with Data Distribution), a next generation maritime inertial navigation system succeeding the company’s MK-39 Mod 3 and 4 series Inertial Navigation System product line.

Components Covered:
• Attitude Heading and Reference Systems
• Accelerometers
• Magnetometer
• Inertial Measurement Units (IMUs)
• Gyroscopes
• Other Components

Platforms Covered:
• Space
• Airborne
• Ground
• Maritime

Technologies Covered:
• MicrElectrMechanical Systems (MEMS)
• Mechanical Gyro
• Fibre Optics Gyro
• Ring Laser Gyro
• Other Technologies

Applications Covered:
• Land and Transportation
• Energy and Infrastructure
• Industrial
• Medical
• Aerospace and Defense
• Automotive
• Consumer Electronics
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements