Inertial Measurement Unit Market, by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (RLG, FOG, MEMS), Application (Consumer Electronics, Aircraft, Missile, Marine, UAV, UGV, UMV), Component and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Inertial Measurement Unit Market Overview
The global Inertial Measurement Unit market size is projected to reach USD 34 billion by 2026 at a CAGR of 7% from USD 21 billion in 2021 during the forecast period 2021-2028.
With the increased demands for aircrafts and the urgent need of accuracy in the navigation are some of the factors that have supported long-term expansion for Inertial Measurement Unit Market.
The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe.
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Inertial Measurement Unit Market Regional Analysis
Asia Pacific is expected to be the largest market of during the forecast period. The increased defence budget, significant increase in demand of smartphones and automobiles along with the affordability of middle class has led to the expansion of market in the region.
Inertial Measurement Unit Market Competitive Landscape
Key Players
• Honeywell
• Northrop Grumman
• Safran Electronics & Defense
• Thales
• STMicroelectronics
• Bosch
• GE
• Teledyne Technologies
• VectorNav Technologies
• LORD MicroStrain
• Trimble Navigation
• Gladiator Technologies
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Inertial Measurement Unit Market Recent Developments
• In 2017, Honeywell received a contract from General Dynamics Land Systems for the procurement of inertial land navigation systems for its defence aircrafts.
• In 2017, US Air Force awarded a contract worth USD 49 million to the Northrop Grumman Corporation for the development of software and hardware design for the legacy aircraft’s embedded GPS.
Reasons to Acquire in the Inertial Measurement Unit Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Inertial Measurement Unit market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth pattern
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Frequently Asked Questions
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