logo

Gyroscopes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Technology ( MEMS Gyroscope, Fibre Optic Gyroscope(FOG), Ring Laser Gyroscope (RLG), Hemispherical Resonator Gyroscope (HRG), Dynamically Tuned Gyroscope(DTG) and Other Technologies), End-user Vertical ( Consumer Electronics, Automotive, Aerospace and Defense, Industrial, Marine and Other End-user Verticals), and Geography.

Home Industry Reports Electronics Gyroscopes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Snapshot

gyroscopes market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

4.44 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The gyroscopes market was valued at USD 2232.56 million in 2020, and is expected to reach a value of USD 2896.86 million by 2026 and grow at a CAGR of 4.44% over the forecast period (2021-2026). The gyroscope technology has witnessed a huge amount of innovation in the last decade, with the introduction of MEMS-based gyroscopes. The accuracy and efficiency of the gyroscopes have also improved as multi axis gyroscopes are more accurate due to digital integration.

  • The increasing demand for the satisfactory performance of INS has influenced technological innovations in gyroscopes. The aviation industry, which is the key consumer of INS systems, has played a major role in the market growth and is expected to be a key driver for the global market.
  • The rapidly growing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sector has been identified to be a major driver in the market. Besides, technological innovations, as a result of the increasing investments in the market, are ensuing in higher performance and lower costs. This is expanding the market for gyroscope systems in several industries, driving the growth of the market.
  • However, the increasing manufacturing complexity and costs involved in the industry are hampering the growth of the market.

Scope of the Report

Gyroscopes can be defined as sensors used for the measurement of orientation in several devices. Ever since their inception, gyroscopes have evolved considerably, aided by incremental innovations in technology. This has helped them to emerge as one of the most integral components in navigation systems. In terms of technology, gyroscopes are divided as MEMS gyroscope, fiber optic gyroscope (FOG), ring laser gyroscope (RLG), hemispherical resonator gyroscope (HRG), dynamically tuned gyroscope (DTG), and other technologies.

By Technology
MEMS Gyroscope
Fibre Optic Gyroscope(FOG)
Ring Laser Gyroscope (RLG)
Ring Laser Gyroscope (RLG)
Hemispherical Resonating Gyroscope (HRG)
Dynamically Tuned Gyroscopes (DTG)
Other Technologies
By End-user Vertical
Consumer Electronics
Automotive
Aerospace and Defense
Industrial
Marine
Other End-user Verticals
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of World

Report scope can be customized per your requirements. Click here.

Key Market Trends

Aerospace and Defense is Expected to Hold a Significant Share

  • Gyroscopes are basically critical rotation sensing elements which are used in navigation systems, specifically for inertial navigation systems (INS), attention and heading reference systems (AHRS) or inertial measurement units (IMUs) for manned and unmanned aircraft, spacecraft, marine and surface vehicles.
  • The ring laser gyro (RLG) helps in rotation measurement. Because of its affordable high performance inertial sensor with the electronics, power supply and sense element, it is an easy-to-use compact unit for the aerospace and defense industry.
  • A gyrometer as an inertial sensor that measures angular rotations. Its vibratory technologies hold exceptional reliability and compactness, which is mainly used to stabilize aiming lines on remotely controlled gun turrets and images, and also for avionics, integrated into the artificial horizons of military or civilian aircraft.
  • In Canada, the demand for gyroplane aircraft is increasing due to the effective application of gyroscope. According to a report in the Canadian Civil Aircraft Registry, the IFR gyroscopes are being adopted in the aerospace industry because of their effective applications.
  • Across various other countries, aerospace and defense sectors are expected to significantly contribute to the market growth.
gyroscopes market

To understand key trends, Download Sample Report

Asia-Pacific to Witness a Significant Growth Rate

  • Asia-Pacific was the only region to register a capacity growth in the oil and gas industry, in the recent years. About four new refineries were added in the region, which has added about 750,000 barrels per day, to the global crude oil production.
  • For instance, in China, for the oil and gas industry, a certain kind of gyroscope has been designed for the borehole drilling field which has the ability to overcome certain technical difficulties like monitoring the operating temperature up to 100 degree centigrade. Mostly, inertial devices are more adaptable and better applied in the drilling field.
  • Moreover, as Japan is well known as the manufacturing hub of the automobile industry, the new development plan for driverless vehicles is giving rise to the adoption of gyroscopes. 
  • Furthermore, the increased enforcement of regulations from countries, such as China, Japan, and South Korea, has encouraged companies to invest in different gyroscopes. Thus, end-user companies are willing to invest in the measurement of orientation in several devices monitoring system for their safety.
gyroscopes market

To understand geography trends, Download Sample Report

Competitive Landscape

The gyroscopes market is fragmented. The rapid rise of unmanned vehicle and technological advancements provides lucrative opportunities in the gyroscopes market. Overall, the competitive rivalry among the existing competitors is high. Moving forward, the innovation strategy of companies is boosting the demand of the market. Some of the key developments in the area are:

  • April 2019 - STMicroelectronics N.V. introduced MEMS chip combined accelerometer with high-accuracy temperature sensor for superior precision. It helps to enhance temperature compensation, leveraging the sensor’s superior accuracy. The accelerometer benefits from unprecedented flexibility with 65 different user modes that enable developers to optimize power consumption and noise to meet application-specific requirements.
  • January 2019 - Honeywell launched its online buying and selling platform for new and used aircraft parts.
gyroscopes market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Rapid Rise of Unmanned Vehicle in Both Defense and Civilian Applications

      2. 4.3.2 Technological Advancements Enabling More Effective Components at a Smaller and Lighter Size

    4. 4.4 Market Restraints

      1. 4.4.1 Substantial Increase in Complexity Challenging the Market Demand

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Technology

      1. 5.1.1 MEMS Gyroscope

      2. 5.1.2 Fibre Optic Gyroscope(FOG)

      3. 5.1.3 Ring Laser Gyroscope (RLG)

      4. 5.1.4 Ring Laser Gyroscope (RLG)

      5. 5.1.5 Hemispherical Resonating Gyroscope (HRG)

      6. 5.1.6 Dynamically Tuned Gyroscopes (DTG)

      7. 5.1.7 Other Technologies

    2. 5.2 By End-user Vertical

      1. 5.2.1 Consumer Electronics

      2. 5.2.2 Automotive

      3. 5.2.3 Aerospace and Defense

      4. 5.2.4 Industrial

      5. 5.2.5 Marine

      6. 5.2.6 Other End-user Verticals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Rest of World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Murata Electronics Oy

      2. 6.1.2 STMicroelectronics N.V.

      3. 6.1.3 Honeywell International Inc.

      4. 6.1.4 Analog Devices, Inc.

      5. 6.1.5 Robert Bosch GmbH

      6. 6.1.6 MEMSIC, Inc.

      7. 6.1.7 Systron Donner Inertial

      8. 6.1.8 Trimble Navigation Ltd

      9. 6.1.9 MicroStrain, Inc.

      10. 6.1.10 Vectornav Technologies LLC

      2. *List Not Exhaustive

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Gyroscopes Market market is studied from 2018 - 2026.

The Gyroscopes Market is growing at a CAGR of 4.44% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Murata Electronics Oy
  • Honeywell International Inc.
  • Robert Bosch GmbH
  • Trimble Navigation Ltd
  • Analog Devices Inc.

Are the major companies operating in Gyroscopes Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!