Inertial Measurement Unit Market to Rise Promisingly Owing to Increasing Demand for Aircraft for Cargo and Commercial Purposes says Fortune Business Insights™

The global inertial measurement unit market size is projected to witness exponential growth on account of increasing demand for aircraft for various commercial and cargo transport purposes. A comprehensive overview on the market is provided by a Fortune Business Insights™ report titled, “Inertial Measurement Unit Market Size, Share & Industry Analysis, By Grade (Marine, Navigation, Tactical, Space, Commercial), By Technology (Mechanical Gyro, Ring Laser Gyro, Fiber Optics Gyro, MEMS, Others), By Application (Aircraft, Missiles, Space Launch Vehicles, Marine, Military Armored Vehicles), By Component (Accelerometers, Gyroscopes, Magnetometers) and Regional Forecast, 2019-2026.”

Browse Report Summary:
https://www.fortunebusinessinsights.com/industry-reports/inertial-measurement-unit-market-101827

List of the key inertial measurement unit market manufacturers include:

• Safran Electronics & Defense
• Lord Microstrain
• Honeywell
• Trimble Navigation
• General Electric
• Teledyne Technologies
• Vectornav Technologies
• Bosch
• Thales
• Gladiator Technologies
• STMicroelectronics
• Others

The report presents a detailed analysis of the inertial measurement unit market, primarily focusing on the growth trajectories such as drivers, restraints, challenges, and opportunities. It also throws light on the market segmentation with the base figure, forecast figure, and CAGR. The report lists the names of significant players in the inertial measurement unit market and the key strategies adopted by them for maintaining healthy competition in the market. The report can be bought from the company website.

Rising Demand for Navigation Accuracy Will Promote Market Growth

The most significant factor promoting the inertial measurement unit market growth is the rising demand for aircraft. Thus, the rising number of smartphone production with high volume frequency is also anticipated to help increase the overall inertial measurement unit market size during the forecast period.

Additionally, the rising demand for navigation accuracy is likely to bode well for the market in the long run. Furthermore, the rising penetration of augmented and virtual reality technologies in various industries is expected to increase the inertial measurement unit market share during the forecast period.

On the flip side, the complexities related to high-end inertial measurement units may pose a challenge to the overall inertial measurement unit market size. Nevertheless, the rise in capital investments is likely to create lucrative inertial measurement unit market growth opportunities in the long run.

Request a Sample Copy of the Market Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/inertial-measurement-unit-market-101827

Presence of Well-established Consumer Electronic Business to Help Asia Pacific Dominate Market

Geographically, Asia Pacific will enjoy the dominant inertial measurement unit market share during the forecast period. This is attributable to the presence of firmly established electronics industry in nations such as South Korea, China, and others, since IMUs are the crucial components in consumer electronic products.

Additionally, the presence of smartphone manufacturing companies such as Samsung, Oppo, and Vivo in South Korea and China have helped these nations emerge as the leading consumers of electronic products. This, coupled with the fact that this region also stands base to major aircraft manufacturing companies such as Mitsubishi Aircraft Corporation and COMAC, is also helping this region continue its dominance in the forecast period as well.

Strategies to Introduce Driverless Vehicles Will Further Intensify Market Competition

Inertial measurement unit market manufacturers are emphasizing on advanced technology IMUs since sensor manufacturer ACEINNA launched their new open-source Inertial Measurement Unit Sensor used for autonomous offroad, construction, and agricultural vehicle applications. Additionally, the company Honeywell developed HG1700 installed on an extensive range of UAVs, weaponry, and stabilized platform. Other players operating in this market are trying to adopt other strategies such as developing driverless vehicles, increasing investments, introducing advanced technologies such as augmented and virtual reality, and others.

Some of the key industry developments in the inertial measurement unit market are:

2016 – A contract was signed between Systron Donner Inertial (SDI) and Rockwell Collins for an inertial measurement unit (IMU) on the new Boeing 777X IFCE (Integrated Flight Control Electronics) fly-by-wire system.

2018 – A major U.S. prime contractor in the defense sector and EMCORE signed an agreement for designing an innovative inertial measurement unit for airborne navigation applications and line-of-sight stabilization.

2019 – An open-source IMU sensor called OpenIMU300RI was launched by a sensor manufacturer ACEINNA. This sensor will help in agricultural vehicle applications, autonomous off-road, and construction.

Have Any Query? Ask Our Experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/inertial-measurement-unit-market-101827

Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

This release was published on openPR.