Inertial Navigation System Market worth $4.63 Billion by 2019, According to A New Study on ASDReports

Wednesday 28 May 2014, Amsterdam

According to a new market research report the "Inertial Navigation System Market by Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade), by Technology (Mechanical, Fiber optic gyro (FOG), Ring laser gyro (RLG), Micro-Electro-Mechanical Systems (MEMS), Hemispherical Resonator gyro (HRG), and Vibrating gyro), by Application (Air, Land, and Naval Platforms), by Geography (North America, Europe, Asia-Pacific, the Middle East, and ROW) - Forecast & Analysis to 2014 - 2019" , now available on ASDReports, is estimated at $2.75 billion in 2014 and is expected to register a CAGR of 10.98% to reach $4.63 Billion by 2019

This report provides a market analysis of the inertial navigation system market for the next five years. It provides an overview of drivers, challenges, and restraints impacting the industry. It also discusses about the industry, market, and technology trends that are currently prevailing in the inertial navigation system market. It tracks, analyses, and lays out the market size of the major spenders in each region and analyses the market by defense and commercial applications. It also provides information about the leading players and their market share in inertial navigation system.

This report also provides the details of financial positions, key products, key developments, and the unique selling point of the major players in this market. The market is segmented by technology which includes mechanical, ring laser gyro (RLG), fiber optic gyro (FOG), micro-electro-mechanical systems (MEMS), hemispherical resonator gyro (HRG), and vibrating gyro based inertial navigation systems. It also covers the market of inertial navigation system by their application in airborne, land, and naval platforms. Inertial navigation system market is also segmented by product type which includes marine grade, navigation grade, tactical grade, and commercial grade navigation systems.

Recent advancements in micro electromechanical system (MEMS) technology have made it possible to manufacture small, light, and low cost inertial navigation systems. The increased use of satellite navigation for commercial application will also fuel the growth of the INS market in future. The increasing demand for unmanned vehicles such as unmanned aerial vehicle (UAV), remotely operated vehicle (ROV), and autonomous underwater vehicle (AUV) is driving the inertial navigation system market. The integrated navigation system such as GNSS/INS and GPS/INS has superior performance characteristics as compared to standalone global navigation satellite system (GNSS) or global positioning system (GPS). These embedded technologies will be very promising for the growth of inertial navigation system market in the future.

The Asia-Pacific, the Middle East, and North American regions will prove to be emerging markets for inertial navigation systems. Countries such as the U.S., South Korea, China, India, Japan, Israel, and Saudi Arabia will show reliable levels of growth.

Northrop Grumman, Honeywell Inc., and Sagem (Safran) will be the market leaders that occupy a significant market share of the inertial navigation system market.