Press release
Inertial Navigation System (INS) Market 2021 Highlights Recent Trends, Market Growth, Business Opportunities till 2026
The Inertial Navigation System (INS) Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The inertial navigation system market was valued at USD 10.43 billion in 2019, at a CAGR of 5.55% over the forecast period 2020 - 2025.
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Top Leading Companies of Inertial Navigation System (INS) Market are Honeywell Aerospace, Northrop Grumman Corporation, Novatel Inc, MEMSIC Inc., Tersus GNSS, Lord Microstain, Inertial Sense, Oxford Technical Solutions and others.
Competitive Landscape:
- Aug 2019 - Northrop Grumman Corporation received a contract from the U.S. Army to develop the next generation tactical radar antenna. The Re-scalable Aperture for Precision Targeting Radar (RAPTR) will be composed of small radar building blocks to allow the antenna to be scaled to fit a wide range of mission and platform requirements.
- Feb 2019 - Honeywell and the U.S. Army completed the overhaul of the 1,000th T55 engine at the Corpus Christi Army Depot in Texas. A pair of the Honeywell engines power the CH-47 Chinook helicopter, a mainstay of the Army’s fleet and the only heavy-duty helicopter the service flies.
Key Market Trends:
Defense Sector Dominates the Inertial Navigation System Market
- Fresh investments in military and naval applications encourage the inertial navigation system market. The blooming aerospace market and technological advancements in navigations systems are further anticipated to drive the market. Inertial Navigation System gives exact navigation and positioning information to fight platforms when engaged in missions, whether for their location or the pointing of weapons systems (artillery, missile, etc.), sensors (radars, optronics, etc.) or weapons itself. They deliver valuable assistance to these systems while ensuring the best security. On advanced fighters like the Rafale, INS gives fully autonomous operation and resistance to electronic warfare. The European helicopter NH90 has also installed this technology.
By Types:
Mechanical Gyro Technology
Ring Laser Gyro Technology
Fiber Optics Gyro Technology
MEMS Technology
Others
By Application:
Aircraft
Missiles
Space Launch Vehicles
Marine
Military Armored Vehicles
Unmanned Aerial Vehicles
Unmanned Ground Vehicles
Unmanned Marine Vehicles
Regional Analysis:
North America to Lead the Global Inertial Navigation System Market
- North America holds a comparably large market share and its dominance is projected to continue over the forecast period, owing to massive investments in marine vessels and warships, and defense aircraft. The US has a dominant market share in missiles along with most lucrative aviation industry. Enhanced precision by the usage of GPS/INS systems is pointing to increasing reliance on GPS/INS systems. Furthermore, the growing number of unarmed aerial vehicles along with increasing defense spending are the fundamental reasons for the huge adoption of these systems in the United States.
- With the country’s huge dependence on GPS/INS enabled systems for its army’s combat systems, the country is actively expanding its defense spending. It allotted a base defense budget of USD 626 billion for the 2018 fiscal year. It also approved about USD 66 billion for the Overseas Contingency Operations fund. The mighty demand for the US commercial aerospace export (82.5% of total A&D exports) across the globe is further encouraging the GPS enabled INS market.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Inertial Navigation System (INS) Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Inertial Navigation System (INS) Market (%),2016 - 2026
- Inertial Navigation System (INS) Market Share, By Brand
- Inertial Navigation System (INS) Market Share, By Company
- Inertial Navigation System (INS) Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Inertial Navigation System (INS) Market Value Analysis & Forecast
- Promising Inertial Navigation System (INS) Development by Major Companies
- Detailed Inertial Navigation System (INS) Portfolio of the Major Companies
- Major Deals in the Inertial Navigation System (INS) Market
- Major Companies Analysis
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Global GPS/INS Market Insights, Forecast
This report presents the worldwide GPS/INS market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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Table of Contents:
Table of Contents
1 Study Coverage
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