Attractive Opportunities in the Inertial Measurement Unit Market

The inertial measurement unit market report provides an analysis of the market from 2017 to 2022. It discusses industry and technology trends that are currently prevailing in the inertial measurement unit market, along with the drivers, restraints, challenges, and opportunities in the market.

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The inertial measurement unit market is projected to grow from an estimated USD 16.46 billion in 2017 to USD 21.74 billion by 2022, at a CAGR of 5.72% during the forecast period. The increasing demand for accuracy in navigation is one of the key factors driving the inertial measurement unit market. Other factors such as increasing demand for aircraft, high volume production of smartphones, etc., also positively impact the market growth.

In terms of market by technology, the MEMS segment is poised to grow at the fastest pace during the forecast period. A Micro-Electric-Mechanical System (MEMS) is a miniaturized inertial measurement unit which includes micromechanical and electrical components. Technological advancements in MEMS have resulted in its increased applicability in unmanned aerial vehicles and small aircraft. The new quartz-based MEMS are smaller in size and less expensive as compared to conventional ones. Furthermore, owing to its small size, MEMS can be mounted directly on a Printed Circuit Board (PCB), thereby facilitating seamless integration in consumer electronic products. Furthermore, MEMS inertial measurement units are expected to replace fiber optics gyro inertial measurement units in the tactical grade performance applications in the coming years.

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Based on grade, the space grade IMU segment is estimated to grow at the highest CAGR from 2017 to 2022. Space grade IMUs are used for space navigation applications as these applications require high accuracy, especially during the highly dynamic flight phases such as ascent, descent, entry, and landing of spacecraft. Factors such as increased investments in satellite manufacturing and associated satellite launches are contributing to the high demand for space grade IMUs.
Based on application, the space launch vehicle segment is estimated to be the fastest-growing segment in the inertial measurement unit market during the forecast period.

This high growth is attributed to the increased space research and emphasis on space exploration activities, leading to the use of a greater number of launch vehicles.

Asia-Pacific is estimated to be the fastest growing market for IMUs during 2017 to 2022. Factors including the increase in defense budgets of emerging countries such as China and India, increasing air passenger traffic in the region, and significant demand for smartphones and automobiles owing to increase in disposable income of the middle-class population, among others, are driving the market growth in this region.

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