Market Size of Inertial Systems Industry in Land-based Applications
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 10.68 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Land-based Applications Inertial Systems Market Analysis
The inertial systems market in land-based applications is expected to register a CAGR of 10.68% during the forecast period 2022-2027. The fast improvement of global living has necessitated the development of more user-friendly equipment. Motion-sensing technology, which heavily relies on inertial sensors, can aid this. Inertial sensor technology has emerged as a major market driver. After the turn of the century, manufacturing procedures for inertial systems underwent a paradigm shift.
The emergence of Micro Electro Mechanical Systems (MEMS) technology resulted in the miniaturization of mechanical and electro-mechanical elements in the field of sensors and semiconductors through the use of micro-fabrication and micro-machining techniques. Hence, MEMS has become an indisputable part of future navigation systems and is expected to propel the inertial systems market's growth.
Additionally, high-end inertial systems are comprised of IMU with high-performance sensors (gyroscopes, magnetometers, accelerometers), which provide high accuracy information about the surrounding environment through relative movement. Hence, the need for higher accuracy in navigation systems is increasing, thus, increasing the demand for advanced inertial systems.
Moreover, these inertial systems are increasingly used in deep-water drilling units for advanced operations. Sonardyne International came up with a new DP-INS (inertial navigation system) that combined the complementary characteristics of its long and ultra-short baseline (LUSBL) positioning technology with high-integrity inertial measurements from its Lodestar AHRS/INS platform. Further, a gyroscope is a kind of inertial sensor used to detect the altitude angle and angular rate. Characteristics such as small size, low power consumption, lightweight, low cost, and the possibility of batch fabrication drive their adoption over conventional gyroscopes.
Further, due to the COVID-19 pandemic, China has stopped all major production activities, including its semiconductor industry. This is expected to significantly influence the global industrial inertial systems market supply chain in 2020, and the market is expected to pick up afterward. Disruption in China may significantly impact companies worldwide and up and down the electronics value chain, directly impacting the sensor market.
Land-based Applications Inertial Systems Industry Segmentation
The inertial systems for the land include applications ranging from small size to high performance as they provide accurate and reliable information of position and velocity. Inertial systems with GPS are used in vehicle safety systems for estimation of the vehicle's slip, guidance, and navigation. Inertial system components include gyroscopes, accelerometers, inertial measurement units, magnetometers, etc.
By Component | |
Accelerometers | |
IMUs | |
Gyroscopes | |
Magnetometers | |
Attitude Heading | |
Reference Systems |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Rest of the World |
Inertial Systems Market in Land-based Applications Size Summary
The inertial systems market in land-based applications is poised for significant growth, driven by advancements in motion-sensing technology and the integration of Micro Electro Mechanical Systems (MEMS). These technologies have revolutionized the manufacturing processes of inertial systems, enabling the miniaturization of components and enhancing the accuracy of navigation systems. The demand for high-performance inertial systems is increasing, particularly in applications requiring precise navigation and control, such as deep-water drilling and unmanned vehicles. The market is also witnessing a shift towards advanced inertial navigation systems that offer superior reliability and performance in challenging environments, unaffected by external factors like radiation and jamming.
The competitive landscape of the inertial systems market is moderately fragmented, with numerous solution providers focusing on product innovation and strategic partnerships to enhance their market presence. North America stands out as a significant market due to its robust offshore oil and gas sector and increasing defense spending, which drive the adoption of these systems. Government initiatives and investments in research and development further stimulate market growth, particularly in the United States. Prominent companies like Honeywell, Northrop Grumman, and Safran are leading the charge in developing next-generation inertial sensor technologies, catering to both commercial and defense applications. The market's expansion is supported by the rising use of unmanned vehicles and the ongoing demand for advanced navigation solutions across various industries.
Inertial Systems Market in Land-based Applications Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Market Overview
-
1.2 Value Chain/Supply Chain Analysis
-
1.3 Industry Attractiveness - Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
1.4 Assessment of COVID-19 Impact on the Industry
-
-
2. MARKET SEGMENTATION
-
2.1 By Component
-
2.1.1 Accelerometers
-
2.1.2 IMUs
-
2.1.3 Gyroscopes
-
2.1.4 Magnetometers
-
2.1.5 Attitude Heading
-
2.1.6 Reference Systems
-
-
2.2 By Geography
-
2.2.1 North America
-
2.2.2 Europe
-
2.2.3 Asia-Pacific
-
2.2.4 Rest of the World
-
-
Inertial Systems Market in Land-based Applications Market Size FAQs
What is the current Inertial Systems Market in Land-based Applications Industry size?
The Inertial Systems Market in Land-based Applications Industry is projected to register a CAGR of 10.68% during the forecast period (2024-2029)
Who are the key players in Inertial Systems Market in Land-based Applications Industry?
Honeywell International Inc., Northrop Grumman Corporation, Rockwell Collins, ST Microelectronics and Bosch Sensortec GmbH are the major companies operating in the Inertial Systems Market in Land-based Applications Industry.