Fiber Optic Gyroscope Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 07/14/2017 -- Gyroscope is a rotating disc and wheels in which the axis of rotation is free to accept any alignment by itself. In addition, gyroscope is a device used for detection of direction. Fiber optics gyroscope senses rotation using the sagnac effect. These products are used in various type of remotely operated vehicle, aviation and industrial application among others. In addition, fiber optics gyroscopes are important gadget for calculating angular velocity. The miniaturization and compact designing of the fiber optics gyroscope helps in effective integration into the different types of defense products application. This has boosted the market growth to a great extent in the global Fiber Optic Gyroscope market. The increasing demand for Remotely Operated Vehicle in near future is anticipated to affect the demand of fiber optics gyroscope in the coming years. Global Fiber Optics Gyroscope market is expected to witness a steady growth during the forecast period from 2017 to 2025. The global Fiber Optics Gyroscope market is highly competitive and dominated by few major players in the global market.
The Fiber Optic Gyroscope market is segmented on the basis of sensing axis, device, application and geography. On the basis of sensing axis, market is fragmented into 3-Axis, 2- Axis, 1- Axis. Various categories of fiber optics gyroscope on the basis of device market has been segmented into gyrocompass, inertial measurement unit, attitude heading reference system and inertial navigation system. Also, this market is segmented on the basis of application into defense and homeland security, aeronautics and aviation, robotic, industrial and remotely operated vehicle among others.
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Across the globe, demand of remotely operated vehicle products such as unmanned underwater vehicle, unmanned aerial vehicle and unmanned ground vehicle is increasing at a high rate. Rapidly, these remotely operated vehicle manufacturing companies are adopting fiber optics gyroscope technology in their products. Increasing demand for remotely operated vehicle are also predicted to drive the market growth of Fiber Optics Gyroscope market at an exponential rate in the coming years. Increasing demand for unmanned aerial vehicle (UAV) is a type of aircraft which has no onboard crew or passengers.. These technology is used for sensing the motion of different aviation application such as angular, velocity and speed among others. Such beneficial features and increasing uses are creating the market demand which is expected to dominate the Fiber Optics Gyroscope market during the forecast period. In addition key automotive suppliers are in the process of increasing utilization of these specific functions in automotive industry during the forecast period. It is also predicted to drive the market growth of fiber optics gyroscope at an exponential rate in the coming years. Across the globe, oil and gas manufacturers are using fiber optic gyroscope technology for measuring the drilling processes of oil and gas manufacturing. This factor creates market opportunities for fiber optic gyroscope in global market. Fiber optics gyroscope are being adopted across various applications of remotely operated vehicles. This factor has fueled the opportunities for growth of Fiber Optic Gyroscope market demand during the forecast period. Moreover, sensor manufacturing companies are focusing on stability, linearity and sensitivity in their incoming sensor and are adopting fiber optics gyroscope in their sensor technology.
However, growing demand for advanced micro electro mechanical systems gyroscopes are using direction tracking as an alternative product of fiber optics gyroscope which is the important factor restraining the growth of Fiber Optics Gyroscope market. Moreover, higher complexity and time-consuming manufacturing process and high investment and low cost-benefit ratio restricted the entry of new players to manufacturer fiber optics gyroscope.
Geographically, the Fiber Optics Gyroscope market has also been segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. In addition, geographically, Fiber Optic Gyroscope market is majorly driven by Asia- Pacific region. Asia-Pacific market for fiber optics gyroscope to grow at the highest rate in future. Major number of industrial product manufacturers are based out of APAC region. Across the globe China, Japan, Korea, India are most promising developing countries is expected to dominate the market share within next forecast period. North America is predicted to witness the most promising second largest market share due to adoption of advancement technology development. Europe is primarily driven by various automobile manufacturing facilities activities in countries such as, Germany and U.K. among others.
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The major players operating in Fiber Optics Gyroscope market includes are Honeywell International, Inc. ( The U.S), Emcore Corporation (The U.S.), Optolink LLC (Russia), KVH Industries, Inc. (The U.S.),Al Cielo Inertial Solutions Ltd. (Israel), Nedaero Components (Netherlands), Colibrys Ltd. (Switzerland),Northrop Grumman LITEF GmbH (Germany) and iXblue SAS (France) among others.
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