openPR Logo
Press release

Key Developments in Inertial Measurement Unit

02-03-2020 11:40 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

The inertial measurement unit market is projected to grow from USD 15.71 Billion in 2016 to USD 21.74 Billion by 2022, at a CAGR of 5.72% during the forecast period. The base year considered for the study is 2016, and the forecast period is from 2017 to 2022.

Report Details : -

Increasing demand for aircraft
The increase in new aircraft orders across the globe is one of the key factors driving the growth of the IMU market. According to Boeing 2016 Market Outlook, the demand for commercial aircraft is expected to grow considerably in the near future, due to the rise in global air passenger traffic. The global aircraft fleet size is anticipated to increase from 22,510 in 2015 to 45,240 by 2035. The number of aircraft deliveries is projected to reach 22,730 by 2035. Approximately 42% of the new aircraft are expected to replace older aircraft, while the remaining will contribute to the fleet growth of airlines to enable their geographic expansion in the emerging markets, as well as ensure the development of innovative business models for airlines.

The emerging markets in the Middle East, Asia Pacific, and Latin American regions are expected to witness increased demand for aircraft during the forecast period. According to Boeing 2016 Market Outlook, the Asia Pacific region is projected to account for a share of 40.0% of the total aircraft deliveries between 2015 and 2035. A rise in air passenger traffic worldwide as a result of increased disposable income of the middle-class population in the emerging economies is projected to fuel the demand for new aircraft. Thus, the rise in new aircraft deliveries will subsequently propel the demand for IMU-based navigation systems.
Download PDF Brochure:-

What opportunities will the penetration of AR/VR in multiple industries present for the inertial measurement unit market?
Head Mounted Displays (HMD) have high penetration in the video gaming industry. Video game users prefer HMDs, which provide an enhanced immersive experience by mixing the real and virtual world. PlayStations (PS) have made VR applications popular as they enhance the gaming experience. HMDs provide 3D images during games, and inertial measurement units play a key role in integrating real world with the virtual world.
Defense is a crucial vertical which always requires its components to be reliable. Various security forces, such as air and defense forces, use VR-enabled devices in training and simulation. In order to provide state-of-the-art training to special combat forces, military forces are taking initiatives to train them on HMD-based simulators.
VR has tremendous scope for application in the medical vertical as well, as it can increase the chances of diagnosing the patient's condition during surgery in less time and with fewer risks. The VR technology with 3D visualization helps physicians to conduct minimally invasive surgery, which is highly beneficial to patients. Such initiatives act as a driving force for the VR market and provide a growth opportunity for the inertial measurement unit market.

How will error propagation challenge the inertial measurement unit market?
Stable platform IMUs depend on various mechanical parts inter-connected to each other with different joints for their functioning. These joints need to be frictionless to avoid any measurement error. With continued usage and wear and tear, the errors caused due to friction increase, which in turn hampers the performance of these systems. Apart from friction, there are a few computational errors that are induced as a result of noise and drifts. For instance, MEMS inertial sensors encompass very tiny mechanical components weighing in micrograms. These parts are so light that they occasionally fail to react to small changes with respect to orientation. Thus, friction and drifts induce a measurement error, which gets propagated in the long run.

Mr. Shelly Singh
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Key Developments in Inertial Measurement Unit here

News-ID: 1916601 • Views:

More Releases for HMD

Hexamethylene Diamine (HMD) Market 2022 | Detailed Report
ReportsnReports publishes the report titled Hexamethylene Diamine (HMD) that presents a 360-degree overview of the market under one roof. The report is developed with the meticulous efforts of an enthusiastic and experienced team of experts, analyts, and researchers that makes the report a valuable asset for stakeholders to make robust decisions. This report also provides an in-depth overview of product type, specification, technology, and production analysis considering vital factors like
Head Mounted Displays (HMD) Market Size Analysis, Industrial Status, & Regional …
Head Mounted Displays (HMD) Market 2021 A headlamp display is an electronic device, which is mounted on the head with a small display mirror next to it. Project optic projects project a visual environment in front of the user's eyes. The screens used on the headset are liquid crystal displays (LCDs) because they are compact, efficient and lightweight. HMD finds applications in a variety of industries including military, sports, medicine, sports,
Hot Metal Detectors (HMD) Market to Witness Notable Growth by 2027
This Hot Metal Detectors (HMD) market report segmented the market by form, application, product, geography, and other factors. This market report looks at a few main players and drivers that have an effect on market opportunities, challenges, risks, and development. It also conducts a competitive analysis of the industry, which helps main market participants in terms of large profits. The market growth is heavily influenced by the significant factors listed
Head Mounted Display (HMD) Market Size, Share & Forecast 2025
Head Mounted Display (HMD) market Overview: 2025 In 2019, the market size of Head Mounted Display (HMD) is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period. A head-mounted display is a
Head Mounted Display (HMD) Market: Competitive Dynamics & Global Outlook 2023
New report published by Global Info Research which offers insights on the global Head Mounted Display (HMD) market. A head-mounted display is a display device, worn on the head or as part of a helmet, that has a small display optic in front of one (monocular HMD) or each eye (binocular HMD). A HMD has many uses, including in gaming, aviation, engineering, and medicine. Click to view the
Helmet-Mounted Displays (HMD) 2018: Emerging Markets in Developing Countries
Qyresearchreports include new market research report Helmet-Mounted Displays (HMD) to its huge collection of research reports. The market analysis of this particular market dissects and elaborates many of the aspects pertaining to the global Helmet-Mounted Displays (HMD) market which enunciates the current figures along with future prospects. The report also takes into consideration changing aspects of the said market. The primary objective of this market intelligence report is to provide an