Press release
Inertial Measurement Unit Market by Technology Innovations and Growth 2019 to 2023
Inertial Measurement Unit Market
The inertial measurement unit market is expected to register a CAGR of 6.49%, during the forecast period 2018 - 2023.
Inertial Measurement Unit Market Segmentation:
This report on Global Inertial Measurement Unit market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Inertial Measurement Unit. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Asia-Pacific Inertial Measurement Unit market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including ANALOG DEVICES INC. , NORTHROP GRUMMAN CORPORATION, SAFRAN GROUP (COLIBRYS SWITZERLAND) LTD., ROCKWELL COLLINS, INC., HONEYWELL INTERNATIONAL INC., INVENSENSE INC., IXBLUESAS, KEARFOTT CORPORATION, KVH INDUSTRIES, INC., THALES GROUP, XSENS TECHNOLOGIES B.V., SPARTON CORPORATION, EPSON EUROPE ELECTRONIC and VECTOR NAV., amongst others.
North America held the highest share of the market
The primary demand for navigational inertial Systems is observed in the maritime sector and the aircraft industry, for both commercial and defence purposes. The United States allocates the maximum budget for defence spending. In 2016, the United States defence spending was more than USD 611 billion, which represented 36% of the total world military expenditure (USD 1686 billion). Over the last three years, however, as a result of global political situation and conflicts in Afghanistan and Iraq, the United States Department of Defence cut down their defence budget. Nonetheless, the decrease in military spending is expected to be offset by the steady growth in aerospace and land-based applications in the United States. The increase in the production of helicopters and commercial aircrafts drives the market for inertial systems. This huge aerospace industry of the United States exports more than 60% of the total aerospace production.
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Aerospace And Defence to Hold a Lion’s Share of the Market
Inertial measurement units form an integral part of inertial navigational systems that are used in a wide range of applications, including the navigation of aircraft, tactical and strategic missiles, spacecraft, submarines, and ships. As INS systems in aircrafts is mandate for efficient navigation, the growth is directly affected by the growth of the aircrafts globally. However, factors such as increasing demand for accuracy in navigation and high availability of small and robust components are expected to have a significant impact the global market, resulting in its exponential growth in the future. The increased use of satellite navigation for commercial application the growth of the global market. Some of the factors that might hinder the growth of the market are system initialization and error propagation.
This independent 102 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Inertial Measurement Unit market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2023.
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Key Developments in the Market
• November 2017 - UTC Aerospace Systems announced a definitive agreement to acquire Rockwell Collins for USD140.00 per share. This acquisition is aimed at catering the demand of a rapidly evolving aerospace industry for the production of intelligent and connected aircrafts.
• September 2017 - Northrop Grumman announced to acquire Orbital ATK for approximately USD 7.8 billion. This acquisition is aimed at strategically combining Northop and Orbital’s to enhance and complement the company’s capabilities in the aerospace and defence sector
Reasons to Purchase this Report
• Current and future Inertial Measurement Unit market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in Excel)
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