[200 Pages Report] 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) -- 08/28/2014 -- The market will exhibit gradual growth over the next 5 years. This market is estimated at $2.75 billion in 2014 and is expected to reach $4.63 billion by 2019. It will register a CAGR of 10.98%. The market for the 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 the commercial segment is estimated at $770 million in 2014 and is expected to reach $1.29 billion by 2019.
The key players profiled in this report are Northrop Grumman, Honeywell, and Sagem (Safran), Rockwell Collins, VectorNav Technologies, Systron Donner Inertial, KVH Industries, and other smaller players also. This report gives a general overview of the company along with their complete financials, key products and services provided by them, growth strategies, major acquisitions, product launches, contracts, and business expansion in the recent past.
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Scope of Research – Segmentation
The global inertial navigation system market is segmented on the basis of the types of technologies, applications, products and geographic regions. The technological segments of the market include fiber optic gyro, MEMS, mechanical INS, ring laser gyro, vibrating gyro and HRG systems. Major applications of the INS industry range across airborne, land and naval industries. The products available in the market include navigation, marine, commercial and tactical grade products. The major geographic segmentation of the market is done on the basis of the strongest demand segments, which include North America, Latin America, Asia Pacific, Europe, Middle East and the rest of the world.
Growth in the demand for aircrafts is a strong driver for the global inertial navigation system market. Growth in the demand for accurate navigation systems is also a vital element driving growth in the industry. Joint development of the key market players is also a contributing factor for the current rate of market growth. Easy availability of low cost system components are also set to increasing the investments in the market. According to the current industry trends, integrated INS demand is set to increase during the next few years. Growth in marine navigation industry is also expected to drive the demand in the global INS market.
According to the latest research reports, the global inertial navigation system market is expected to grow at a steady CAGR of over 10% from 2014 to 2019. As a result of the steady growth rate, the market is set to reach past $3.33 billion by the end of the year 2019. The market is estimated to be worth $1.98 billion in 2014. Inertial navigation systems are set to record strongest growth during the forecasting period, which is a great sign for the key players in this segment. Asia Pacific, North America and Middle East are projected to be the emerging geographic segments for the market. Technological advancements in the MEMS technology are also expected to cause positive influence on the industry.
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