Gyroscope Global Market will Exceed $3.89 Billion By 2028 with a Projected CAGR of 6.5% | Colibrys Ltd., Fizoptika Corp., InnaLabs, InvenSense Inc., Kionix Inc.

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Gyroscope Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.89 billion In 2028 At A CAGR Of 6.5% :

The gyroscope market size has grown strongly in recent years. It will grow from $2.85 billion in 2023 to $3.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to consumer electronics adoption, automotive applications, aerospace and defense sector demand, industrial automation, medical devices..

The gyroscope market size is expected to see strong growth in the next few years. It will grow to $3.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to focus on energy efficiency and sustainability, increasing utilization in oil and gas industry, research and scientific instrumentation, rapid growth in wearables market, expanding telecommunications networks.. Major trends in the forecast period include increased utilization in earthquake detection systems, development of hybrid sensors, integration into smart wearables for health monitoring, enhanced gyroscopic stabilization in cameras, energy harvesting solutions, diversification in medical applications..

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Gyroscope Market Major Segments
The gyroscope market covered in this report is segmented -
1) By Type: Micro-Electro-Mechanical System (MEMS) Gyroscopes, Fibre Optic Gyroscope, Ring laser Gyroscope, Hemispherical Resonating Gyroscope, Dynamically Tuned Gyroscope
2) By Application: Electronics, Aerospace, Industrial Manufacturing, Automotive, Mining, Marine

Key Driver - The Rising Adoption Of Drones And Uavs Fueling The Gyroscope Market

The rapidly growing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sector has been expected to be a major driver in the market. An unmanned Aerial Vehicle (UAV) is an airborne system or an aircraft operated remotely by a human operator or autonomously by an onboard computer for warfare and surveillance. Due to the increase in research and development, the rate of adoption of UAVs is rising. For instance, according to National Defence, a business technology magazine, the worldwide research, development, and procurement spending on UAVs are projected to rise from $11.1 billion in 2020 to $14.3 billion by 2029. Moreover, the R&D spending is forecasted to grow from $3.2 billion in 2020 to $4 billion in 2029, and procurement funding is projected to ramp up from $7.9 billion in 2020 to about $10.3 billion by the end of the decade. Such growing adoption of drones and UAVs are driving the gyroscope market growth.

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Prominent Trend - Technological Innovations Reshaping The Gyroscope Market

Technological innovation are shaping the gyroscope market. The performance of INS (Inertial navigation system), attention and heading reference systems (AHRS), or inertial measurement units (IMUs) for manned and unmanned aircraft, spacecraft, marine, and surface vehicles have influenced technological innovations in gyroscopes. For instance, in May 2022, Magnum Wings LLP, a Hyderabad-based electronic company, launched its first commercially available UAV- MW Viper in India. The ground survey, payload delivery, and surveillance missions are all made easier with the MW Viper's enhanced operating capabilities and mission flexibility. The vertical take-off and landing capability of the MW viper allow it to hover, take off, and land vertically with a payload ranging from 5 to 60 kg.

Gyroscope Market Players
Major companies operating in the gyroscope market report are Analog Devices Inc., Colibrys Ltd., Fizoptika Corp., Honeywell International Inc., InnaLabs, InvenSense Inc., Kionix Inc., KVH Industries Inc., Murata Manufacturing Co. Ltd., Northrop Grumman Corporation, NXP Semiconductors N. V., Robert Bosch GmbH, Sensonor AS, STMicroelectronics Private Ltd., Systron Donner Inertial, TDK Corporation, Trimble Inc., Silicon Sensing Systems Limited, Emcore Corporation, Optolink LLC, Dynalabs Mühendislik LTD., Epson Europe Electronics GmbH, Safran Electronics & Defense, Thales Group, Raytheon Technologies Corporation, Rockwell Collins, UTC Aerospace Systems, Moog Inc., MEMSIC Inc., Gladiator Technologies, VectorNav Technologies

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Largest And Fastest Growing Region In The Market
North America was the largest region in the gyroscope market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gyroscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Gyroscope Market Report Structure
3. Gyroscope Market Trends And Strategies
4. Gyroscope Market - Macro Economic Scenario
5. Gyroscope Market Size And Growth
…..
27. Gyroscope Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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