The need for new airplanes and UAVs is estimated to spur the inertial measurement unit market in the coming period. The aerospace and defense reports are made by Market Research Future, which includes market options for development. A USD 17.45 billion income level is projected to be achieved by 2025 while recording a CAGR of 5.4%.
The increased undertaking of tactical missions is likely to enhance the development of the inertial measurement unit market size in the forecast period. The widespread positioning of the inertial navigation system in unmanned systems is predicted to create an optimistic outlook for the market in the impending period.
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The segmental evaluation of the inertial measurement unit market is carried out on the basis of technology, component, and regions. Based on the component, the inertial measurement unit market is segmented into gyroscopes, accelerometers, and magnetometer. Based on the Technology, the inertial measurement unit market is segmented into fiber optics gyro, ring laser gyro, mechanical gyro, and microelectromechanical systems (MEMS) gyro. On the basis of regions, the inertial measurement unit market is segmented into Europe, Asia Pacific, North America, and other strategic regional markets.
Detailed Regional Analysis
The regional review of the inertial measurement unit market includes regions such as Europe, Asia Pacific, North America, and other strategic regional markets. The inertial measurement unit market in the North American region is anticipated to be the foremost market for the inertial measurement units. This tendency is expected to carry on due to the existence of well-known players. The growing implementation of UAVs, UMVs, and UGVs by the military forces for tactical missions is projected to push the inertial measurement unit market growth through the forecast period.
The developing defense spending in nations such as China and India and the developing demand for novel aircraft are motivating the regional inertial measurement unit market advance. The intensification in defense expenses by the governments of nations such as Israel, UAE, and Saudi Arabia, is propelling the inertial measurement unit market development in the Middle Eastern & African region. In the Latin American region, the usage of UAVs for observing deforestation, drug trafficking, and checking of illegal migration is growing, which is anticipated to impel the regional inertial measurement unit market evolution.
The diversity in the contenders who are functioning in the market is foreseen to create a promising scenario for the revitalization of the market in the future. The backing provided by government bodies is estimated to enhance the global market in the foreseeable future. The ideal products in the market will be those that can accurately incorporate the consumer’s needs and wants perfectly. In addition, the building of market synergies is estimated to enable companies to gain more of a competitive edge in the global market.
The requirement for sustainability in the market is estimated to be leveraged with the revitalization of the free cash flows. The reduction of supply chain bottlenecks is estimated to become a principal goal that contenders in the market are estimated to address on a priority basis in the forecast period. The change in the market is estimated to herald in an unprecedented change in the worldwide market through the forecast period. The rivalry in the market is appraised to be strengthened significantly in the coming months.
The crucial companies in the inertial measurement market are Lord Microstrain (US), Northrop Grumman Corporation (US), Robert Bosch GmbH (Germany), Gladiator Technologies Inc. (US), Teledyne Technologies Inc. (US), General Electric Company (US), Honeywell International Inc. (US), Thales Group (France), Trimble Navigation Ltd (US), Safran Electronics & Defense (France), United Technologies Corporation (US) and Vectornav Technologies LLC (US).
Table of Contents
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
5 GLOBAL Inertial Measurement Unit Market, BY PLATFORM