Inertial Navigation Systems Market Size, Share Forecast 2031

Segments - Inertial Navigation Systems Market by End Users (Aerospace & Defense, Marine, Automotive, and Industrial) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Inertial Navigation Systems Market Outlook 2031:

The global inertial navigation systems market size was valued at USD 11.56 Billion in 2022 and is projected to reach USD 18.78 Billion by 2031, expanding at a CAGR of 5.54% during the forecast period 2023 - 2031. The growth of the market is attributed to the factors such as increased demand for safe and precise navigation, new aircraft and missiles, and the availability of affordable micro-components.

Inertial navigation system is a device that can determine the position, direction, and speed of objects by using onboard inertial sensors and dead roll technology. The inertial navigation system mainly contains the first batch of inertial sensors, such as accelerometers, gyroscopes or magnetometers for data collection.

Secondly, inertial navigation system contains a processing unit for analyzing and tracking measurement data from inertial sensors. It is widely used in the manufacture of military missiles and mass-produced games, cameras, computers, and medical equipment.

Recent technological advancements have led to the development of small parts, which ultimately reduced the size and weight of these tiny components making it portable and easy to use. In addition, MEMS technology can further miniaturize the embedded sensor system, making the production of micro MEMS accelerometers and MEMS gyroscopes expandable to meet application requirements.

In addition, the aerospace industry has very strict requirements for weight and size. The increasing procurement of unmanned vehicles and the increasing deliveries of aircraft have led to the introduction of micro-components to improve the performance and reliability of the navigation system.

Inertial Navigation Systems Market Trends, Drivers, Restraints, and Opportunities

Increasing demand for accuracy in navigation in warfare scenario and adoption of advanced navigation technologies is expected to boost the inertial navigation systems market growth during the forecast period.
Rapid growth of defense & aerospace industry is creating demand for advanced technologies and development of next generation system for enhanced accuracy is major factors fueling the market.
Rising adoption of robotic vehicles for defense and commercial application is anticipated to drive the market during the forecast period.
High operating & maintenance cost associated with inertial navigation systems is projected to restrict the inertial navigation systems market growth.
R&D investment and technological advancement in developing driverless vehicles with high accuracy in navigation is projected to offer significant opportunities for the market players.

Scope of Inertial Navigation Systems Market Report

The report on the global inertial navigation systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Inertial Navigation Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016 – 2021
Forecast Period	2023 – 2031
Segmentation	End Users (Aerospace & Defense, Marine, Automotive, and Industrial)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Inertial Sense Inc.; Tersus GNSS; Northrop Grumman Corp.; Honeywell International Inc.; and MEMSIC Inc.

Inertial Navigation Systems Market Segment Insights

The aerospace & defense segment is projected to hold a major market share

Based on end users, the inertial navigation systems market share is segregated into aerospace & defense, marine, industrial, and automotive. The aerospace & defense segment is expected to represent a key share of the market during the forecast period owing to new investments in military & aerospace and marine applications.

Technological advancements in navigation systems may drive market development. Depending on the location or targeting of weapon systems, sensors or the weapons themselves, provide valuable support for these systems and ensure maximum safety. Inertial navigation system provides fully autonomous operation and resistance to electronic warfare.

This technology is also installed on European NH90 helicopters. The aircraft carrier must synchronize the navigation system of the ship with the navigation system of its aircraft. The inertial navigation system guarantees the ship's ability to operate in a critical magnetic environment without sacrificing performance, making it an ideal choice for the next generation of submarines.

On the battlefield, artillery systems must provide superior accuracy and impact resistance. As the number of passengers is growing exponentially, the commercial aviation market is growing rapidly. Increased military spending in many regions paved the way for technologies such as unmanned aerial vehicles. In addition, the use of inertial navigation systems in traditional combat aircraft is increasing significantly.

Inertial Navigation Systems Market End-User

North America is anticipated to dominate the market

On the basis of regions, the inertial navigation system market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The main demand for inertial systems is in defense sector in order to provide accurate navigation and location information for combat platforms during missions.

The tactical inertial navigation system is a combat-proven solution of the US Army. As the military sector requires reliable positioning and navigation solutions, the demand for INS systems is expected to grow rapidly. In addition, oil rig exploration requires high-performance gyroscopes and accelerometers to provide suitable autonomous detection systems, inertial measurement units, and inertial gyroscopes to provide accurate platform stability solutions when stability is critical.

Inertial Navigation Systems Market Regions

Segments

The global inertial navigation systems market has been segmented on the basis of

End Users

Aerospace & Defense
Marine
Industrial
Automotive

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Inertial Sense Inc.
Tersus GNSS
Northrop Grumman Corp.
Honeywell International Inc.
MEMSIC Inc.

Competitive Landscape

Key players competing in the inertial navigation systems market include Inertial Sense Inc.; Tersus GNSS; Northrop Grumman Corp.; Honeywell International Inc.; and MEMSIC Inc.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

For instance, In September, 2019 Honeywell International released two new inertial meters that can provide navigation in a compact and lightweight package without reducing costs.

In August, 2019 Northrop Grumman has received an order from the US Army to develop next-generation tactical radar antennas.

Inertial Navigation Systems Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Inertial Navigation Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Inertial Navigation Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Inertial Navigation Systems Market - Supply Chain
  4.5. Global Inertial Navigation Systems Market Forecast
     4.5.1. Inertial Navigation Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Inertial Navigation Systems Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Inertial Navigation Systems Market Absolute $ Opportunity
5. Global Inertial Navigation Systems Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Inertial Navigation Systems Market Size and Volume Forecast by End Users
     5.3.1. Aerospace & Defense
     5.3.2. Marine
     5.3.3. Industrial
     5.3.4. Automotive
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Inertial Navigation Systems Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Inertial Navigation Systems Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Inertial Navigation Systems Demand Share Forecast, 2019-2026
7. North America Inertial Navigation Systems Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Inertial Navigation Systems Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Inertial Navigation Systems Market Size and Volume Forecast by End Users
     7.4.1. Aerospace & Defense
     7.4.2. Marine
     7.4.3. Industrial
     7.4.4. Automotive
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Inertial Navigation Systems Demand Share Forecast, 2019-2026
8. Latin America Inertial Navigation Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Inertial Navigation Systems Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Inertial Navigation Systems Market Size and Volume Forecast by End Users
     8.4.1. Aerospace & Defense
     8.4.2. Marine
     8.4.3. Industrial
     8.4.4. Automotive
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Inertial Navigation Systems Demand Share Forecast, 2019-2026
9. Europe Inertial Navigation Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Inertial Navigation Systems Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Inertial Navigation Systems Market Size and Volume Forecast by End Users
     9.4.1. Aerospace & Defense
     9.4.2. Marine
     9.4.3. Industrial
     9.4.4. Automotive
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Inertial Navigation Systems Demand Share Forecast, 2019-2026
10. Asia Pacific Inertial Navigation Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Inertial Navigation Systems Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Inertial Navigation Systems Market Size and Volume Forecast by End Users
     10.4.1. Aerospace & Defense
     10.4.2. Marine
     10.4.3. Industrial
     10.4.4. Automotive
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Inertial Navigation Systems Demand Share Forecast, 2019-2026
11. Middle East & Africa Inertial Navigation Systems Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Inertial Navigation Systems Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Inertial Navigation Systems Market Size and Volume Forecast by End Users
     11.4.1. Aerospace & Defense
     11.4.2. Marine
     11.4.3. Industrial
     11.4.4. Automotive
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Inertial Navigation Systems Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Inertial Navigation Systems Market: Market Share Analysis
  12.2. Inertial Navigation Systems Distributors and Customers
  12.3. Inertial Navigation Systems Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Inertial Sense Inc.
     12.4.2. Tersus GNSS
     12.4.3. Northrop Grumman Corp.
     12.4.4. Honeywell International Inc.
     12.4.5. MEMSIC Inc.