14-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Europe & MEA Inertial Navigation System Market By Application (Aircraft, Unmanned Marine Vehicles, Missiles, Military Armored Vehicles, Marine, Space Launch Vehicles, Unmanned Ground Vehicles, and Unmanned Aerial Vehicles), By Technology (Mechanical Gyro, MEMS, Ring Laser Gyro, and Fiber Optics Gyro), By Grade (Marine Grade, Commercial Grade, Navigation Grade, Tactical Grade, and Space Grade), and By Type (Geometric INS, Strap Down INS, Semianalytic INS, and Analytics INS): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the Europe & MEA Inertial Navigation System market was valued at approximately USD 5,039 million in 2018 and is expected to reach a value of around USD 9,640 million by 2027, at a CAGR of around 7.47 % between 2019 and 2027.
The inertial navigation system is a kind of electronic system that continuously monitors the position and speed of the vehicle such as a missile, surface ship, submarine, and spacecraft. It also offers navigational information. The system does not depend on external data and the system process works on the principle of the law of classical mechanics.
Browse the full “Europe & MEA Inertial Navigation System Market By Application (Aircraft, Unmanned Marine Vehicles, Missiles, Military Armored Vehicles, Marine, Space Launch Vehicles, Unmanned Ground Vehicles, and Unmanned Aerial Vehicles), By Technology (Mechanical Gyro, MEMS, Ring Laser Gyro, and Fiber Optics Gyro), By Grade (Marine Grade, Commercial Grade, Navigation Grade, Tactical Grade, and Space Grade), and By Type (Geometric INS, Strap Down INS, Semianalytic INS, and Analytics INS): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/europe-mea-inertial-navigation-system-market-by-application-167
Large-scale evolution of MEMS technology to drive the market trends
Microelectromechanical systems (MEMS) help in reducing the electricity usage, expenses, and size of the varied inertial systems through the massive use of surface volume density. Apart from this, the MEMS powered inertial measuring units find lucrative application including defense & commercial applications. All these aspects are predicted to steer the growth of the Europe & MEA inertial navigation system market over the forecast period.
Furthermore, a rise in the acceptance of commercial UAVs is predicted to steer the growth of the industry over the forecast timeline. Apart from this, rise in the certified pilots across the globe has assisted the firms for capturing aerial data and this is predicted to impel the growth of the Europe & MEA inertial navigation system industry over the forecast timeline. Nonetheless, the operational complicatedness related to high-end inertial navigation systems is likely to impede the growth of the industry over the forecast timeline. However, the production of commercial driverless cars will offer new growth avenues for industry players during the forecast timeline.
Missiles segment to dominate the application landscape over the forecast period in terms of revenue
The massive use of the inertial navigation systems in the missiles to track the target is likely to steer the growth of the segment over the forecast timeline.
MEMS segment to contribute majorly towards the overall market revenue by 2027
The growth of the segment is due to the ability of MEMS technology to transform consumer & industrial products through the merging of silicon-based microelectronics with micromachining technology. Apart from this, most of the electronic components like sensors, light reflectors, actuators, and switches are made by using MEMS and this will further steer the segmental growth over the forecast timespan.
Europe to dominate the overall market expansion during the forecast timeline
The growth of the regional market over the forecast timeline is due to technological breakthroughs in navigation, the thriving aerospace sector, and easy availability of strong & small parts. Moreover, major players in the region are making tremendous efforts to produce solutions that offer precision in terms of velocity, flight vector, and attitude. Inertial navigation system manufacturers in the European countries are producing cost-efficient solutions leading to low-cost, light, and miniature inertial navigation systems.
Key players involved in the Inertial Navigation System business in Europe & MEA include Avio SpA, Honeywell International Inc., Rockwell Collins, GE, NORTHROP GRUMMAN CORPORATION, KVH Industries, Inc., Raytheon Company, InnaLabs, Safran Colibrys SA, Teledyne Technologies Incorporated, VectorNav Technologies, LLC, Systron Donner, Inc., Thales Group, Trimble Inc., and NovAtel Inc.
This report segments the Europe & MEA Inertial Navigation System market as follows:
Europe & MEA Inertial Navigation System Market: By Application Segment Analysis
- Unmanned Marine Vehicles
- Military Armored Vehicles
- Space Launch Vehicles
- Unmanned Ground Vehicles
- Unmanned Aerial Vehicles
Europe & MEA Inertial Navigation System Market: By Technology Segment Analysis
- Mechanical Gyro
- Ring Laser Gyro
- Fiber Optics Gyro
Europe & MEA Inertial Navigation System Market: By Grade Segment Analysis
- Marine Grade
- Commercial Grade
- Navigation Grade
- Tactical Grade
- Space Grade
Europe & MEA Inertial Navigation System Market: By Type Segment Analysis
- Geometric INS
- Strap Down INS
- Semianalytic INS
- Analytics INS
Europe & MEA Inertial Navigation System Market: Regional Segment Analysis
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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