Inertial Measurement Unit Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The inertial measurement unit market was valued at USD 18.97 billion in 2020 and is expected to reach USD 27.23 billion by 2026, at a CAGR of 6.49% over the forecast period 2021 - 2026.

• The growth of the inertial measurement unit (IMU) market is largely fueled by the increase in the number of applications, technological advancements, and the increasing demand in emerging countries of Asia-Pacific. Furthermore, the growth can be attributed to the increasing demand for accuracy in navigation aids and emergence of MEMS systems.
• The MEMS technology played a major role in expanding the application base for inertial measurement systems, by scaling down the size and power consumption of these devices, without compromising on their performance metrics.
• However, as IMU is mostly being dependent on MEMS, the improvement in the accuracy of an IMU with inertial sensors is being limited, such as putting the whole shebang in a constant temperature oven or adding data from other non-inertial sensors, such as a magnetometer or a motion capture system.

Scope of the Report

Inertial measurement units (IMUs) is a self-contained system that measures linear and angular motion, usually with a triad of gyroscopes and triad of accelerometers. IMUs are basically used to maneuver aircraft and spacecraft. IMU is being segregated by gyroscopes, accelerometers, and magnetometers as components. In terms of grade, IMU is divided as marine grade, navigation grade, tactical grade, space grade, and commercial grade. 

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Key Market Trends

Aerospace and Defense Sector to Account for a Major Share

• IMUs used in defense applications comprise the best-in-class bias stability and performance metrics. High-end IMUs for defense applications represent one of the largest markets in the inertial systems sector. They are widely used in defense ships, military fighters, nuclear missiles, short/medium- and long-range missiles, guided munitions, and military helicopters.
• Defense-based applications are known to deploy two inertial navigational systems, in order to tackle redundancy and offer high fault tolerance. For instance, considering the use of high-end inertial systems in military helicopters. Military helicopters can be broadly categorized into special mission helicopters and combative rotorcrafts. 
• FOG-based gyroscopes (as part of IMUs) are usually preferred in defense applications, when performance is considered the key criteria. Furthermore, the emergence of MEMS-based IMUs enabled a wider adoption in defense-based application. Usually, they are coupled with other forms of navigational systems to account for bias errors.
• Defense-based applications (especially in the United States, which represents the largest market for high-end IMUs) are governed by the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR). These bodies impose regulations, concerning trade and exchange of information on defense-related technology, to maintain the integrity and prevent the transfer of information to anti-government institutions. 

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