The Global Inertial Navigation System Market Size was valued at USD 10.6 Billion in 2021 and is set to garner a market size of USD 17.5 Billion by 2030 growing at a CAGR of 5.8% from 2022 to 2030.
An inertial navigation system (INS) is a type of navigation system that employs inertial sensors to continuously track an object's position, orientation, and velocity. This is accomplished by measuring the object's linear and angular accelerations and integrating those measurements over time to calculate the object's current position and velocity. Inertial navigation systems (INS) are used in a wide range of applications, including aircraft, missiles, ships, and vehicles. They are especially useful in situations where external references, such as GPS signals, cannot be used for navigation. Increasing advancements in INS are a key trend that will drive market demand. These systems have made significant advances in recent years. The precision and accuracy of the sensors used in INS systems has been one of the main areas of improvement. Newer inertial sensors, for example, can detect smaller changes in acceleration, enabling more precise navigation.
Inertial Navigation System (INS) Market Report Statistics
Global Inertial Navigation System Market Dynamics
Inertial Navigation System Market Report Coverage
|Market||Inertial Navigation System Market|
|Inertial Navigation System Market Size 2021||USD 10.6 Billion|
|Inertial Navigation System Market Forecast 2030||USD 17.5 Billion|
|Inertial Navigation System Market CAGR During 2022 - 2030||5.8%|
|Inertial Navigation System Market Analysis Period||2018 - 2030|
|Inertial Navigation System Market Base Year||2021|
|Inertial Navigation System Market Forecast Data||2022 - 2030|
|Segments Covered||By Technology, By Component, By Grade, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Collins Aerospace, General Electric Company, Gladiator Technologies, Inc., Honeywell International Inc., iXblue SAS, MicroStrain Sensing Systems, Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran Electronics & Defense, Teledyne Technologies Inc., Thales Group, Trimble Inc, and VectorNav Technologies, LLC.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Inertial Navigation System Market Growth Factors
Increasing demand for high-precision navigation fuels the inertial navigation system INS market value. INS systems are able to provide highly accurate and reliable navigation, even in challenging environments where other types of navigation systems may not work well. This makes them attractive for a variety of applications, including military, aviation, and autonomous vehicles. Growing demand for autonomous systems is another factor that is fueling the INS market demand. The development of autonomous systems, such as drones, self-driving cars, and unmanned underwater vehicles, has increased the demand for INS systems. These systems rely on accurate and reliable navigation to function properly, and INS systems are often well-suited for this purpose. The development of new applications will help the inertial navigation systems industry grow. The market for these systems is being driven by the increasing use of INS systems in new and emerging applications such as augmented reality and virtual reality.
However, the high cost of the INS would stifle market growth. Some users may find the cost of INS systems prohibitive to their adoption. However, complexity issues and size and weight concerns may limit market growth. Some users may find it difficult to design and integrate INS systems because they are complex. Furthermore, these systems can be large and heavy, which can be problematic for some applications, such as drones and other small or lightweight systems.
Inertial Navigation System Market Segmentation
The worldwide inertial navigation system market is categorized based on technology, component, grade, application, and geography.
Inertial Navigation System Market By Technology
According to inertial navigation systems industry analysis, the mechanical gyroscopes sub-segment collected a significant market share in 2021. Inertial navigation systems (INS) frequently use mechanical gyroscopes to measure angular velocity. Mechanical gyroscopes are commonly used in INS systems because they are simple and reliable, and they can measure angular velocity with high accuracy. They can, however, be relatively large and heavy, as well as sensitive to environmental factors such as temperature and humidity. Meanwhile, they are gradually being replaced by FOG due to their high weight and large size.
Inertial Navigation System Market By Component
Based on components, the market for gyroscopes accounted for maximum share in 2021. Accelerometers are important components of INS systems because they allow the system to track the motion of the device it is mounted on, even in situations where it is not possible to use external references, such as GPS signals, for navigation. In addition, accelerometers are relatively small, lightweight, and low-power, which make them well-suited for use in portable and mobile applications. However, gyroscopes also held for a noteworthy market share in the same period. A gyroscope is used in an INS to determine the angular velocity of the device it is positioned on, which can be used to calculate the device's orientation over time.
Inertial Navigation System Market By Grade
As per the inertial navigation system market forecast, marine grade is poised to growth with impressive market growth from 2022 to 2030. Marine grade inertial navigation systems (INS) are INS systems designed specifically for use in marine environments. These systems are typically designed to withstand harsh marine conditions such as high humidity, saltwater corrosion, and extreme temperatures. Ships, submarines, and offshore platforms all use marine grade INS systems.
Inertial Navigation System Market By Application
Among all the applications, space launch vehicle generated maximum revenue in 2021 and is likely to do so in the coming years from 2022 to 2030. In space launch vehicles, INS systems are used to track the vehicle's position and orientation, as well as to provide guidance commands to the vehicle's propulsion system in order to maintain the desired flight path. They are also used to control the deployment of payloads such as satellites as well as other mission-critical functions. The accuracy and dependability of the INS are critical to the mission's success. As a result, space grade INS systems are commonly designed to be highly accurate and dependable, and they are frequently tested and accredited to ensure that they can withstand the harsh environments of space.
Inertial Navigation System Market Regional Outlook
The Middle East & Africa
Inertial Navigation System Market Regional Analysis
According to our regional inertial navigation system industry analysis, North America held the majority of the share in 2021 and is expected to maintain its dominance between 2022 and 2030. The region's notable share can be attributed to the growing number of autonomous vehicles in the United States, such as UAVs, UGVs, and UUVs. Furthermore, increasing funding for space launch programmes by industry leaders such as NASA and Space X is supporting the North American INS market share. Furthermore, substantial funding in the aerospace and defense sectors favors the American market's growth from 2022 to 2030.
In terms of growth, the Asia-Pacific region will lead the market with the highest rate from 2022 to 2030. The growing number of aircraft fleets in the region is a key factor driving market demand. Furthermore, the growing marine industry, technological advancements in the aviation sector, and the presence of electronic component industries in the region are all contributing to the growth of the APAC inertial navigation systems market.
Inertial Navigation System Market Players
Some of the leading inertial navigation system companies include Collins Aerospace, General Electric Company, Gladiator Technologies, Inc., Honeywell International Inc., iXblue SAS, MicroStrain Sensing Systems, Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran Electronics & Defense, Teledyne Technologies Inc., Thales Group, Trimble Inc, and VectorNav Technologies, LLC.
The market size of inertial navigation system was USD 10.6 Billion in 2021.
The CAGR of inertial navigation system market is 5.8% during the analysis period of 2022 to 2030.
The key players operating in the global inertial navigation system market are Collins Aerospace, General Electric Company, Gladiator Technologies, Inc., Honeywell International Inc., iXblue SAS, MicroStrain Sensing Systems, Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran Electronics & Defense, Teledyne Technologies Inc., Thales Group, Trimble Inc, and VectorNav Technologies, LLC.
North America held the dominating position in inertial navigation system market during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for inertial navigation system market during the analysis period of 2022 to 2030.
The current trends and dynamics in the inertial navigation system industry include the growing demand for high-precision navigation, increasing adoption of autonomous systems, availability of miniaturized components at affordable prices, and development of new applications.
The space launch vehicle application held the maximum share of the inertial navigation system market.