The inertial measurement unit market was estimated at $2.14 Billion in 2014 and is expected to register a CAGR of 7.87% to reach $3.37 Billion by 2020. The report provides key statistics for the forecast period along with in-depth insights with regards to the inertial measurement unit and its technology market.
Albany, NY -- (SBWIRE) -- 10/18/2017 -- The global inertial measurement unit market is anticipated to witness growth because of the elevation in the use, procurement, and research of unmanned underwater vehicle (UUV) since the last decade. As a result, there have been telling advances made in a broad scope of UUV payloads such as inertial measurement unit and inertial navigation system. With the help of two chief sensor components, inertial measurement unit could be implemented to collect linear acceleration and angular velocity data as a single unit in the electronics module.
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The report presents a comprehensive view of the global inertial measurement unit market so as to help players to cement a strong position in the industry for the coming years.
Global Inertial Measurement Unit Market: Dynamics
The international inertial measurement unit market is envisioned to gain impetus from important applications in high-end guided and automotive missiles, spaceships, autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), unmanned aerial vehicles (UAVs), aircrafts, and ships and submarines. Inertial measurement unit could be engaged for effective surveying, guidance, navigation, stabilization, and control in applications such as military, marine, and industrial.
The rising employment of UUV for different activities below the seabed could augment the demand for inertial measurement unit. For a number of commercial and military applications such as mine reconnaissance and countermeasures, UUV could be opted as a swiftly developing and choice platform. These applications are expected to possess a high potential in fueling the growth of the international inertial measurement unit market.
The demand for inertial measurement unit could increase further with the aggressive growth of unmanned vehicle in defense and civil applications. Other sectors which highly demand inertial measurement unit could be aviation, transportation, energy and infrastructure, and industrial manufacturing.
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The world inertial measurement unit market is envisaged to be categorized into gyroscope, accelerometer, magnetometer, and attitude sensor, according to product segmentation. As per the analysis of the report, the market for gyroscope could clinch the first spot in terms of revenue share. In 2017, gyroscope secured a share of 50.3%.
By platform, the world inertial measurement unit market is prognosticated to be segregated into land, airborne, and naval.
As per end use, the analysts foresee opportunities offered by segments such as aerospace and defense, automotive, sports, and other industries in the world inertial measurement unit market.
According to sales channel, the world inertial measurement unit market is prophesied to be classified into direct sales, online retail, electronic component stores, and others.
By geography, Latin America, North America, Europe, Asia Pacific except Japan (APEJ), Japan, and the Middle East and Africa (MEA) could be key segments of the world inertial measurement unit market.
Global Inertial Measurement Unit Market: Competition
The authors of the report profile some of the top-scoring players of the worldwide inertial measurement unit market, viz. Honeywell International, Inc., Thales Group, Northrop Grumman Corporation, Safran Electronics & Defense SAS, Rockwell Collins, Systron Donner Inertial, KVH Industries, Inc., Moog, Inc., Fairchild Semiconductor International, Inc., and Kearfott Corporation.
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