Inertial Navigation System Market worth $12.26 billion by 2022  Exclusive Market Report by Markets and Markets

1
Inertial Navigation System Market worth
12.26
billion
by 2022 ?
Exculsive Market Report by Markets and Markets.
The inertial navigation system market is
projected to grow from an
estimated USD 9.54 billion in 2017 to USD 12.26
billion by 2022, at a CAGR of 5.15 during the
forecast period.Increase in aircraft orders,
increased space research leading to the use of a
greater number of launch vehicles, and increase
in satellite launches are some of the key factors
driving
the
inertial market.
navigation
system
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The
space
launch the
vehicle inertial
segment
in navigation system market is estimated to
be the fastest-
growing market forecast period
during
the
Based on application, the space launch vehicle
segment in the inertial navigation system market
is estimated to be the fastest-growing segment
in the inertial navigation system market during
the forecast period. This growth is attributed to
an increase in satellite launches and increasing
space research and exploration activities. Also,
increased investments in satellite manufacturing
and associated satellite launches are
contributing to the high demand for space
inertial navigation systems.
2
The navigation grade segment in the inertial
navigation system market is projected to grow at
the highest CAGR from 2017 to 2022
Based on grade, the navigation grade segment is
projected to grow at the highest CAGR during the
forecast period. Increase in aircraft orders is
one of the key factors driving the inertial
navigation system market. According to the Boeing
Current Market Outlook, as the commercial
aircraft market is growing, globally, it is
expected that these systems have a high
growth potential in the commercial sector.
The MEMS segment in the inertial navigation
system market is projected to grow at a higher
CAGR from 2017 to 2022
Based on technology, the MEMS segment in the
inertial navigation system market is projected to
grow at the highest CAGR during the forecast
period. The growth can be attributed to
technological advancements in MEMS-based INS that
are resulting in its increased applicability in
small aircraft and unmanned applications. The
ongoing RD activities in the field of
MEMS technology are expected to improve the
accuracy and reliability of these systems
further. The MEMS inertial navigation systems are
expected to replace the fiber optics gyro
inertial navigation systems in the tactical
grade performance applications in the coming
years.
Asia Pacific is expected to be the
fastest-growing market for the inertial
navigation system during the forecast period
Asia Pacific is expected to be the
fastest-growing market during the
forecast period. The growth is largely due to an
increase in defense budgets of emerging countries
such as India and China the backing provided by
these countries to develop homegrown
technologies for the manufacture of missiles,
fighter aircraft, and UAVs and rise in
commercial aircraft manufacturers in the region.
The aviation industry in the Asia Pacific
region is growing at a significant pace mainly
due to the increasing air passenger traffic in
the region. Moreover, the increase in disposable
income of the middle-class population lead to
growth in air passenger traffic of the
Asia Pacific region have resulted in the
growing demand for new aircraft deliveries in
the region, which, in turn, is boosting the
demand for inertial navigation systems.
Major players operating in the inertial
navigation system market include Honeywell
International Inc. (US), Northrop Grumman
Corporation (US),
3
Safran Electronics Defense (France), Rockwell
Collins, Inc. (US), and Thales Group (France).
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Inertial Navigation
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Inertial Navigation System Market, navigation
system market, satellite