Inertial Navigation System Market Statistics 2027: Major Factors that can Increase the Global Demand

An inertial navigation system is a navigation system which is used to calculate velocity, gravitational force, and directional orientation of a moving object. Inertial navigation system includes motion sensors, accelerometers, and gyroscopes. The gyroscope measures the angular velocity of an object such as drones, ships and aircraft using sensors, whereas the accelerometer measures the degree of change in speed of drones, aircrafts, and ships. Based on such derivations, the object’s direction and relative position are estimated. Moreover, inertial navigation systems are used in navigation applications and in aerospace where accuracy & performance are considered as utmost importance. Further, inertial navigation technology also allows to measure the acceleration of a vehicle by applying mathematical calculations

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Region covered
North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

Companies covered
Honeywell International Inc., Northrop Grumman Corporation., Thales Group, Safran, GENERAL ELECTRIC, Raytheon Technologies Corporation, Teledyne Technologies Incorporated., Trimble Inc., Collins Aerospace, Gladiator Technologies, VectorNav Technologies LLC, andParker Hannifin Corp

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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rise in defense expenditure among developing countries, increase in demand for accuracy in navigation, and surge in demand for aircrafts are some of the major factors which drive the growth of the global inertial navigation system market. However, operational complexity associated with inertial navigation system and decline in defense budgets in some of the major countries are expected to restrain the growth of inertial navigation system market. Contrarily, technological advancements in MEMS based inertial navigation systems will be opportunistic for the growth of inertial navigation system market.

Rising defense expenditure among developing countries
The increase in transactional conflicts among several countries such as Saudi Arabia & Iran, India & Pakistan, has resulted in rising of defense expenditure among these countries. Such countries are investing heavily in the development of several missile systems such as S-400 (Russia) and Akash missile defense system (India). Such missile systems use inertial navigation system for guidance. Hence, rising defense expenditure is contributing significantly in the growth of the global inertial navigation system market.

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Key benefits of the report:

1 This study presents the analytical depiction of the inertial navigation system industry along with the current trends and future estimations to determine the imminent investment pockets.
2 The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global inertial navigation system market share.
3 The current market is quantitatively analyzed from 2020 to 2027 to highlight the global inertial navigation system market growth scenario.
4 Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.
5 The report provides a detailed global inertial navigation system market analysis based on competitive intensity and how the competition will take shape in coming years.

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