Author: Acumen Research and Consulting

Inertial Navigation System Market Size in 2021 was USD 10,600 Million, Market Value set to reach USD 17,500 Million by year 2030 at 5.8% CAGR

Inertial Navigation System Market Overview

INS, or inertial navigation system, is defined as a type of navigational system which uses sensors for measuring the linear as well as angular velocity of a vehicle or platform in order to determine its position and orientation in space. It is typically used in space exploration, military, aviation, robotics, and naval applications.

One of the main advantages of the INS is that it does not rely on external references, like GPS signals, to determine its position. This makes it suitable for use in environments where GPS signals are unavailable or unreliable, such as in urban canyons or under dense foliage. It is also resistant to jamming or spoofing, which makes it useful for military applications.

The global inertial navigation system market size has been estimated to grow at a decent pace during the forecast period given the good demand for precise navigation and positioning. Factors driving the growth of the market include the increasing use of autonomous systems in various industries, the growing adoption of advanced navigation technologies, and the increasing demand for navigation solutions in emerging economies. However, the INS is not without its limitations.

The market is segmented based on component, application, and region. Top market players include Honeywell Inc., Northrop Grumman Corp, Raytheon Company, Thales Group, and Collins Aerospace. These companies have a strong presence in the market and have adopted various strategies, such as partnerships, collaborations, and new product launches, to excel in the market.

Inertial Navigation System Market Research Report Highlights and Statistics

• The global inertial navigation system market size was valued at USD 10,600 Million in 2021 and is expected to touch USD 17,500 Million by 2030, growing at a CAGR of 5.8% over the forecast timeframe.
• The accelerometers segment is expected to dominate the market during the forecast period due to the increasing usage of accelerometers in various applications, including automotive, military, and aviation.
• The aviation segment is expected to dominate the market during the forecast period due to the increasing demand for precise navigation and positioning in aircraft and drones.
• The Asia-Pacific region is expected to be the fastest growing INS market share during the forecast period due to the increasing demand for navigation solutions in emerging economies, such as China and India. North America has the largest inertial navigation system market share in revenue terms.
• Key players profiled in the market include Honeywell International Inc., Northrop Grumman Corporation, Raytheon Company, Thales Group, and Collins Aerospace.

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Trends in Inertial Navigation Systems market

• Rising demand for navigation solutions in emerging economies: The market is experiencing a rising demand for navigation solutions in emerging economies, such as China and India, due to the increasing adoption of advanced technologies in these countries.
• Increasing adoption of software-defined INS: The market is witnessing an increasing adoption of software-defined INS, which offers flexibility and versatility compared to traditional hardware-based systems.
• Growing usage of INS in space exploration and robotics: The market is seeing a growing usage of INS in space exploration and robotics, as these applications require precise navigation and positioning in challenging environments.

Inertial Navigation System Market Dynamics

Some of the major factors propelling market growth include the following

• Increasing adoption of advanced navigation technologies: such as MEMS or microelectromechanical systems and ring laser gyroscopes, which offer higher accuracy and stability compared to traditional technologies.
• Growing demand for autonomous systems in major industries like military, aviation, and automotive.
• Increasing usage of INS in automotive applications including self-driving cars, which require precise navigation and positioning for safe and efficient operations.
• Integration with technologies like GPS and lidar for enhancing accuracy and reliability.

INS Market Growth Hampering Factors

• High cost: Inertial navigation systems can be quite expensive, which may limit their adoption by certain users.
• Limited accuracy: Inertial navigation systems are subject to drift over time, which can limit their accuracy and make them less attractive to certain users.
• Dependence on external sensors: Inertial navigation systems may require the use of external sensors such as GPS or GLONASS to achieve optimal accuracy, which may be inconvenient or infeasible in some scenarios.
• Technological limitations: INS relies on sensitive sensors and complex algorithms, which can have technical limitations affecting their performance.
• Competition from other technologies, such as satellite-based navigation systems, which can offer superior accuracy and other benefits.

INS Market Segmentation

• By end-use industry: INSs have applications in many industries including aviation, military, marine, automotive, and others.
  Some examples include
  • Civil Helicopters, Aircrafts, General Aviation, Commercial Aircrafts, Military Aircraft.
  • Space Launching Vehicles
  • Military Armored Vehicles
  • Marine
  • Missiles
  • UMVs, UAVs and UGVs
• By type of system: INSs can be classified by the type of sensors they use such as accelerometers, gyroscopes, magnetometers, the type of system architecture like strapdown, gimbal, and the type of output including position, orientation, velocity.
• Other segmentations include system cost, system accuracy and by region.

Inertial Navigation System Market Overview by Region

• North America: North America stands out as having the largest inertial navigation system market share due to the presence of a large number of defense and aerospace and companies in the region. The US military is a major user of INS, and the country's defense budget is the highest in the world. The USA is also the leading country in space exploration programs hence increasing the demand for INS.
• Asia Pacific: The Asia Pacific region has been estimated to have the fastest growth in the INS market share due to the increasing demand for INS in the defense and aerospace sectors. The region is home to a number of countries like China and India that are investing in their military capabilities, which is driving the demand for INS. The rivalry between China and other countries in the region, including Japan and India, has been pushing their military budgets further.
• Europe: Europe is another significant market for INS, with the region's defense and aerospace industries some of the biggest and most advanced in the world. The region's military budgets are generally lower compared to those of the US and China, but the demand for INS is still huge.

Inertial Navigation System Market Key Players

There are several players in the inertial navigation system (INS) market, including:

• Northrop Grumman, a global defense and aerospace firm, produces a range of INS products for use in aerospace, defense, and commercial applications.
• Honeywell Aerospace, a leading provider of INS for aircraft and other aerospace applications. The company's INS products are used in a variety of aircraft, which include commercial as well as military aircraft.
• Thales Group: a French multinational company that specializes in the aerospace, defense, and security sectors, producing a range of INS products for aerospace, defense, and marine applications.
• Raytheon Technologies: a technology and defense company that produces a range of INS products for use in military and commercial applications.
• Mitsubishi Electric Corporation: a Japanese multinational corporation that produces a range of INS products for use in defense and aerospace applications.

Other players in the market include Airbus, Trimble, NovAtel, SAAB, Furuno Electric, Rockwell Collins (now part of Raytheon Technologies), Lockheed Martin Corporation, Collins Aerospace, Safran Electronics & Defense, General Dynamics Corporation, and L3 Harris Technologies Inc.

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