Inertial Navigation System Market Outlook: worth 12.26 Billion USD by 2022

The report "Inertial Navigation System Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (Mechanical, Ring Laser, Fiber Optic, Mems), Application (Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022", The inertial navigation system market is projected to grow from an estimated USD 9.54 Billion in 2017 to USD 12.26 Billion by 2022, at a CAGR of 5.15% during the forecast period. Increase in aircraft orders, increased space research leading to the use of a greater number of launch vehicles, and increase in satellite launches are some of the key factors driving the inertial navigation system market. 

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Objectives of the Study:

The report analyzes the inertial navigation system market on the basis of application (aircraft, missiles, space launch vehicles, marine, military armored vehicles, UAV, UGV and UMV), technology (mechanical gyro, ring laser gyro, fiber optics gyro, MEMS, and others), grade (marine grade, navigation grade, tactical grade, space grade, and commercial grade) and component (accelerometers, gyroscopes and algorithms & processors). These segments and subsegments have been mapped across major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).

The report provides in-depth market intelligence regarding the market dynamics and major factors influencing the growth of the inertial navigation system market (drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets, with respect to individual growth trends, future prospects, and their contribution to the overall market. The report also covers competitive developments, such as long-term contracts, new product launches & agreements, and research & development activities in the inertial navigation system market, in addition to business and corporate strategies adopted by key market players.

Asia Pacific is expected to be the fastest-growing market during the forecast period. The growth is largely due to an increase in defense budgets of emerging countries such as India and China; the backing provided by these countries to develop homegrown technologies for the manufacture of missiles, fighter aircraft, and UAVs; and rise in commercial aircraft manufacturers in the region.

Major players operating in the inertial navigation system market include Honeywell International Inc. (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), Rockwell Collins, Inc. (US), and Thales Group (France). These key players offer various technologies such as Ring Laser Gyro (RLG), Fiber Optics Gyro (FOG), and MEMS in inertial navigation systems. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and the Asia Pacific

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