The inertial systems market in land-based applications is expected to register a CAGR of 10.58%, during the forecast period (2018-2023). The scope of the market covers various holistic solutions offered by the leading vendors of the market. The scope is limited to the end-user applications, such as defense and aerospace, automotive, and industrial.
The inertial systems for land include applications from small size to high performance as they provide the accurate and reliable information of position and velocity. Inertial systems with GPS are used in vehicle safety systems for estimation of slip of the vehicle, vehicle guidance, and navigation. With the increase in the complexity of the autonomous vehicle, the navigation system provides the ability to determine the position and orientation of the vehicle in real time with most accurate information. As the vehicle location and navigation system is the crucial sector in intelligent transportation system, the demand for inertial systems is increasing as they provide increased productivity, reduced costs in the automation of vehicles.
The land applications include the car motion analysis, unmanned ground vehicles, mobile mapping, antenna tracking, and also land defense. The inertial navigation systems are used for artillery, radar, and combat vehicle applications in land defense. The need for these systems have been further buoyed by the need for greater security and accuracy in the mapping and location based navigation for defense applications.
Growing Number of Connected Cars is Expected to Drive the Adoption of Inertial Systems for Land-based Applications
The automotive industry is undergoing a wave of innovation and—with the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever before—is witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services the demand for connected cars has been soaring and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2020.
Alongside the burgeoning connectivity, there is a growing demand for accuracy in navigation for these autonomous cars. Since high level of accuracy and reliability are the prime features of a navigational system, these navigational systems have a distinctive advantage over other forms of navigation systems in terms of their lack of dependence on external aids to determine the rotation and acceleration of a moving object. The systems are inherently suited for use in integrated navigation, control and guidance of vehicles in challenging environs. Unlike GPS and other kinds of navigation systems, inertial systems can retain their performance even under difficult conditions. Thus, the increasing number of connected cars has buoyed the adoption of inertial navigational systems.
Inertial Measurement Units to Witness a High Adoption
IMU’s are used for land and naval applications operate with a bias stability of 0.05– 0.5 °/h for short-term navigation and 0.0001- 0.01 °/h for high-grade navigation. The bias-stability configuration is dependent on the nature of the end-user applications. Certain applications, such as UGV’s may require high-grade navigation systems, as they are entirely dependent on real-time data for effective functioning. Land/naval applications hold a dynamic market for high-end IMU, witnessing a high growth in terms of the range of applications and in terms of market players, since these systems offer high reliability in testing conditions, when other navigational systems are prone to errors. The new range of high-grade navigational systems are effectively integrating high-end IMUs with GPS systems (also seen in other application grades) for offering guidance and navigation control. The other applications include freight transport trucks, high-speed trains, and other forms of autonomous vehicles. The increasing adoption of autonomous vehicles in the commercial and military sector has augmented the growth of the inertial systems market in land-based applications.
- September 2017 - Northrop Grumman announced to acquire Orbital ATK for approximately USD 7.8 billion. This acquisition is aimed at strategically combining Northop and Orbital’s to enhance and complement the company’s capabilities in the aerospace and defense sector
- November 2017 - Analog Devices launched a series of five high-performance IMUs that address the navigation- and safety-related needs of industrial applications in several emerging markets, while also reducing their system complexity and cost
Major Players: Analog Devices Inc., Bosch Sensortec GmbH, Safran Group, Honeywell International Inc., Kearfott Corporation, STMicroelectronics, Invensense Inc., Meggitt PLC, Northrop Grumman Corporation, KVH Industries, Inc., Silicon Sensing Systems Ltd., Rockwell Collins, Vector NA AND Epson Europe Electronics, among others.
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- Current and future inertial systems market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segments that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products
3.2.5 Competitive Rivalry
3.3 Value Chain Analysis
4. Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.2.1 Operational Complexity Coupled With High Maintenance Costs
5. Technology Snapshot
6. Global Inertial Systems Market In Land Based Segmentation
6.1 By Component
6.2 By Type
6.2.1 Attitude Heading Reference System (AHRS)
6.2.2 Inertial Positioning and Orientation Systems
6.2.3 Inertial Measurement Units (IMU)
6.3 By Region
6.3.1 North America
6.3.4 Middle East & Latin America
7. Competitive Intelligence - Key Vendor Profiles
7.1 Analog Devices Inc.
7.2 Bosch Sensortec GmbH
7.3 Safran Group
7.4 Honeywell International Inc.
7.5 Kearfott Corporation
7.6 ST Microelectronics
7.7 Invensense Inc.
7.8 Meggitt PLC
7.9 Northrop Grumman Corporation
7.10 KVH Industries, Inc.
7.11 Silicon Sensing Systems Ltd.
7.12 Rockwell Collins
7.13 Vector NAV
7.14 Epson Europe Electronics
*List is not Exhaustive
8. Investment Analysis
9. Future of the Global Inertial Systems Market In Land Based Market