Inertial Navigation System Market categorizes global market by Technology (Mechanical, Fiber optic gyro (FOG), Ring laser gyro (RLG), Micro-Electro-Mechanical Systems (MEMS), Vibrating gyro and Hemispherical Resonator gyro (HRG)), Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade), Application & by Geography.
Dallas, TX -- (SBWIRE) -- 11/02/2014 -- The inertial navigation system market is estimated at $2.75 billion in 2014 and is expected to reach $4.63 billion by 2019. The inertial navigation system market for defense segment is estimated at $1.98 billion in 2014 and is expected to reach $3.33 billion by 2019. The inertial navigation system market for commercial segment is estimated at $770 million in 2014 and is expected to reach $1.29 billion by 2019.
According to Market Research, the inertial navigation system market is dominated by Asia-Pacific, the Middle East, and North American regions. Increase in defense budgets of countries like China, India, and South Korea will fuel the growth of the INS market in the defense segment. Though North America is a mature market but low cost micro-electro-mechanical systems (MEMS) technology and increasing demand of inertial navigation systems in naval and commercial application is driving the market in this region.
Browse 61 market data tables 48 figures spread through more than 232 pages and in-depth TOC on “Inertial Navigation System Market by Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade)"
In the commercial segment, the increase in passenger travel demand in countries like India, China, the Middle East, and other Asia-Pacific countries is the reason for growth in the aircraft market. As INS is one of the necessities in every aircraft for efficient navigation, its market is growing with the market for aircraft. The demand for INS is also increasing due to advancement in technology; high availability of low cost MEMS gyros have made it cheaper, compact, and affordable. The integration of GPS and INS has become more common in aviation.
In the defense segment, Asia-Pacific region has the highest growth potential for the Inertial Navigation System Market. China has announced that it will increase its defense budget by 12.2% to $132 billion this year. It is planning to spend a significant amount on military and defense aircraft. This will fuel the market growth for military and defense aircraft, which in turn will also increase the demand for INS. The Indian military is readying itself for any potential two-front war with Pakistan and China. In its new Prahar missiles, India will be using ring laser gyro based inertial navigation system (RLG-INS).
Northrop Grumman, Honeywell, and Sagem (Safran) are the leading players in this market. However, Rockwell Collins, VectorNav Technologies, Systron Donner Inertial, KVH Industries, Raytheon, SBG Systems, Advanced Navigation, Atlantic Inertial System, Teledyne CDL, L-3 Communications, Crossbow Technology, and Kearfott Guidance & Navigation Corporation are other prominent players in this market.
According to Market Research the inertial navigation system market is dominated by Asia-Pacific, the Middle East, and North American regions. Increase in defense budgets in countries like China, India, and South Korea will fuel the growth of the INS market in the defense segment. Though North America is a mature market but low cost micro-electro-mechanical systems (MEMS) technology and increasing demand of inertial navigation systems in naval and commercial application is driving the market in this region.
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This research report analysis the defense and commercial application markets for inertial navigation system. For commercial application, only aircraft has been considered for analysis. This report provides the market analysis of the inertial navigation market over the next 5 years. It discusses the industry, market and technology trends that are currently prevailing in the market. It analyzes the factors that drive the market, challenges faced by the industry, and the factors that restrain growth of 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 INS. It also covers the market for inertial navigation system by their application in airborne, land, and naval platforms. This market is also segmented by product type which includes marine grade, navigation grade, tactical grade, and commercial grade navigation systems.
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