Fiber Optic Gyroscope Market Is Expected To Reach US$ 1,760.9 Million by 2032

The fiber optic gyroscope market continues to grow against the backdrop of demand for reliable machinery for aerospace & military purposes.

The global fibre optic gyroscope market is likely to reach a valuation of US$ 968.2 Million in 2022 and is expected to reach US$ 1,760.9 Million by the end of 2032, registering at a CAGR of 6.2%. The fiber optic gyroscope market is expected to expand due to the demand for reliable equipment for aerospace and military purposes.

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Key Takeaways from Fact.MR's Fiber Optic
Gyroscope Market Study

• By vertical, aerospace and defense to remain the primary application area; robotics to emerge a highly lucrative segment

• 3-axis sensing fiber optic gyroscopes to account for a major chunk of the market share

• By device, inertial navigation systems to hold major sway, owing to the need for monitoring the position, orientation and velocity of aircraft

• US to emerge as the largest fiber optic gyroscope market, attributed to high budgetary allocation for the aerospace and defense sector

Robotics to Open Up New Expansion Frontiers
The fiber optic gyroscope market is poised to experience further upswing amid a burgeoning robotics industry. Estimates suggest a 15% increase in worldwide robot shipments through 2031, as the demand for automated workflow across key industries acquires precedence.

Studies have concluded that gyro output is highly effective in determining rotation rates, altitude, orientation and navigation. In recent years, robotic management of fiber gyro management has increased manifold, which is expected to prevail across the forecast period.

Competitive Landscape

Key fiber optic gyroscope manufacturers as profiled by Fact.MR include Honeywell International Inc., Nedaero Components, Northrop Grumman Litef GmbH and Optolink LLC among others. Primary expansion strategies include new product launches, specifically for the aerospace industry, as well as collaborations, acquisitions and mergers.

In 2018, Nedaero Components introduced its range of Fiber Optic Rate Sensor FOG, a small palm-sized rate sensor to be mounted across gyroscopes for aerospace industrial players. The FOG60 model is successfully certified for a commercial airline program, helping achieve flight stabilization and altitude control of aircraft, helicopters, drones and missiles.

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Key Companies Profiled

• Honeywell International Inc.
• Emcore Corporation
• Honeywell International Inc.
• Emcore Corporation
• Northrop Grumman Litef GmbH
• KVH Industries, Inc.
• Nedaero Components
• iXBlue SAS
• Fizoptika Corp.
• Optolink LLC
• AL Cielo Inertial Solutions Ltd.

Segmentation of Fiber Optic Gyroscope Industry Research

• By Sensing Axis:

o 1-Axis
o 2-Axis
o 3-Axis

• By Device Type:

o Gyrocompass
o Inertial Navigation System
o Inertial Measurement Unit
o Others

• By Vertical:

o Aerospace & Defence
o Automotive
o Robotics
o Mining
o Healthcare
o Transportation & Logistics
o Other Industrials

• By Region:

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

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Key Questions Covered in Report

• What are the Challenges Faced by Fiber Optic Gyroscope Manufacturers?
• What Makes the U.S. the Biggest Fibre Optic Gyroscope Market?
• Why are Asian Countries Such as China and India are Expected to Hold a Major Market Share?
• What is contributing to the Sales of Fiber Optic Gyroscopes in Navigation Systems?
• What is the Scope of Fiber Optic Gyroscopes in the Robotics Industry?

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