Global Inertial Navigation System Market was valued at USD 10.22 billion in2018 which is expected to reach USD 15.26billion by 2030 at a CAGR 5.5%.
Inertial navigation systems is defined as navigational aid with reference to dead reckoning process which is used to determine initial position, velocity, and attitude of a moving object irrespective of external references.
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Top Key Players Global Inertial Navigation System Market:
· Honeywell International Inc., Northrop Grumman Corporation, Safran Electronics & Defense, Thales Group, The Raytheon Company, General Electric Company, Rockwell Collins, Inc, Teledyne Technologies, Inc., and Vectornav Technologies, LLC
By Drivers, Global Inertial Navigation System Market is Primarily split into:
· The growing demand for aircraft is a major factor expected to drive the growth of the global inertial navigation system (INS) market. Additionally, the increasing need for missiles, driven by geopolitical tensions and evolving warfare strategies, is likely to have a positive impact on the market. The availability of smaller, more affordable components is also expected to boost market growth during the forecast period. Moreover, advancements in MEMS-based INS technology will further contribute to the market’s expansion, making these systems more accessible and efficient.
Market Trends:
- Growing Need in Aerospace and Defense: Inertial navigation systems, particularly for military and civil aviation, have gained wide application for flight navigation and guidance including underwater and dense urban areas, where GPS is of no use or rather less effective.
- Integration with Autonomous Vehicles: With the automobile manufacturers striving towards self driven cars, it becomes important that INS be able to provide a high accuracy operational position and motion data pertinent for the vehicle.
- Technological Advancements: There has been progress in sensor technology that is termed as micro-electromechanical systems (MEMS) and fiber-optic gyros (FOG) that result in improvement in INS devices particular across size and cost metrics.
- Increased Use in Consumer Electronics: Inertial navigation system is becoming more renowned in consumer electronics such as mobile apparatus, drones and wearable devices primarily for motion capture, gaming and navigational aids.
Regional Insights:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Challenges:
- High Cost of Advanced INS Solutions:
INSs which are able to utilize fiber-optic sensors as well as ring-laser gyros are generally expensive which makes their integration into a cost conscious industry hard.
- Integration Complexity:
The coupling of the INS with other navigation systems such as GPS and the exchange of data formats is a technical problem for many industries.
- Calibration and Maintenance:
To ensure the accuracy of the INS, periodic maintenance and calibration are necessary. As a result, these systems become more expensive and harder to implement.
By Product Types:
- Navigation
· Tactical
· Commercial
· Marine
By Application:
- Naval
· Airborne
· Commercial
· Land
Future Outlook:
· The market of INS systems will considerably expand very rapidly with the development of sensor technologies as well as the gradual increase of usage in autonomous systems and robotics. Also, the market will further grow in developing areas like industrial automation, consumer electronics, and commercial space exploration. As the technology becomes increasingly cost effective and smaller it will create new markets in many fields including INS systems which will make their future very bright.
· This SEO report outlines the main areas of interest regarding global ins market, including its growth prospects, problems and about the technology that is available, making an informed recommendation for companies and other stakeholders who wish to capture the trends of the future of this vibrant market.
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