The global aerospace inertial systems market is poised to grow at a CAGR of 8.03% from 2016 to 2021. Safety in aerospace is of prime importance and inertial sensors are key components that ensure safety. The global inertial systems market, which is expected to touch USD 8.4 billion by 2021, is expected to increase the demand for better airport security systems, which will again open up new latitudes in the inertial systems market.
Currently, predominant inertial technologies have little scope for change. The Micro Electro Mechanical Systems (MEMS) sensor based technology is set to replace them during the forecast period. With increasing error correction techniques and proven reliability credentials, MEMS is an affordable technology with the potential to increase performance; thereby, taking inertial sensing to the next level.
Primary drivers for this market are size reduction trends in the aviation industry, as well as requirements for increasing reliability and reduced complexity. The core challenge for the market is the reluctance of the civil aviation sector to adapt and embrace new technologies. The vertical structure of the aviation industry leaves very little chance for adoption of advanced sensors. The lack of competition in the supply chain is another major hurdle.
The inertial systems market has been segmented by
According to geographic divisions, the Americas are expected be the most significant business sectors, followed by Europe and Asia-Pacific. The North American market boasts of the finest inertial systems and leading manufacturers in the region, and is expected to be the driving factor for a leading position.
An analysis of the key players in the market has been provided with an outlook on the competitive landscape and insightful information for investors. Some of the key players of this market are Honeywell Sensing and Control, Aeron, and MEMSIC Inc.
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