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The Inertial Navigation System (INS) Market is segmented by End-user Industry (Aerospace and Defense, Automotive, Marine and industrial), and Geography.
Fastest Growing Market:
The inertial navigation system market was valued at USD 10.43 billion in 2019, at a CAGR of 5.55% over the forecast period 2020 - 2025. Augmented demand and production of aircraft and missiles across the globe and requirement for precise and reliable navigation are principal factors expected to drive the inertial navigation system market. The growing demand for missiles due to geopolitical variability and changing the nature of warfare, and growing demand for unmanned underwater vehicles (UUVs) are also the reasons boosting the growth of the market. With the increasing development in technology concern to navigation systems, it is anticipated to witness noticeable growth in the future. It is used in defense, naval applications, aircraft, missiles and commercial vehicles. Furthermore, several technological advancements such as the introduction of light-powered and compact-sized navigation systems, which employ ring laser gyro (RLG) and fiber optic gyro (FOG), are also creating a positive outlook for the market. Future, the need for expansion of commercial driverless vehicles and technical improvements in MEMS-based INS gives enough opportunities for market growth.
Inertial navigation system (INS) is a navigation aid that uses a computer with reference to computation process which is used to control initial velocity and position of a moving object irrespective of external positions, uses stable platform techniques. The inertial sensors in the system are installed on a constant stage and mechanically isolated from the rotating motion of the vehicle by providing better systems integrity and allow the navigation system to coast through short GPS outages with high accuracies.
|By End-user Industry|
|Aerospace and Defense|
|Rest of the World|
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On aircraft carriers, it's completely vital to harmonize the ship's navigation system with those on its aircraft. Inertial Navigation System guarantees the ship's capability to work in a critical magnetic environment, without castigating performance, an ideal solution for new-generation submarines. Out on the battlefield, artillery systems have to offer extraordinary precision, extreme shock resistance. As the commercial aviation market is increasing at a more accelerated rate due to the exponential rise in air passenger traffic, the demand for new aircraft is growing year on year. This increasing demand is expected to drive the navigational grade INS market during the forecast period.
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The Inertial Navigation System (INS) Market is substantially competitive and has several major players. In terms of market share, some of the main players currently control the market. Vendors are constantly introducing smart INS devices and are investing massively toward the development of next-generation inertial navigation systems. Players compete based on the quality of navigation systems, and advanced characteristics and their performance are affected by factors such as strong competition, accelerated technological advances, and technological obsolescence.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Emergence of the MEMS Technology
4.4 Market Restraints
4.4.1 Operational Complexity Associated With High-End INS
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Technology Snapshot
5. MARKET SEGMENTATION
5.1 By End-user Industry
5.1.1 Aerospace and Defense
5.2.1 North America
5.2.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Honeywell Aerospace
6.1.2 Northrop Grumman Corporation
6.1.3 Novatel Inc
6.1.4 MEMSIC Inc.
6.1.5 Tersus GNSS
6.1.6 Lord Microstain
6.1.7 Inertial Sense
6.1.8 Oxford Technical Solutions
6.1.9 Aeron Systems Pvt. Ltd.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS