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The Inertial Measurement Unit Market market is evolving rapidly with the rapid growth in market
The inertial measurement unit market was estimated at $2.14 Billion in 2014 and is expected to register a CAGR of 7.87% to reach $3.37 Billion by 2020. The key growth countries include the U.K., India, China, U.S., Germany, and Saudi Arabia; demonstrating consistent growth.
North America held the largest share of 39.82% due to increased spending on micro-electromechanical systems (MEMS) technology and other component development supported by the U.S. government. The growing commercial aerospace market, due to increasing travelling demand globally, advancement in MEMS technology to be used for commercial and tactical grade applications, increasing offshore oil & gas exploration, pipeline inspection, and demand for unmanned underwater vehicles around the world, is expected to fuel the demand for IMU systems.
In this report, the IMU market has been broadly segmented into airborne, land, and naval segments according to the platform. Commercial aircraft, defense aircraft, missiles, and spacecraft are considered under the airborne platform. Military vehicles, unmanned ground vehicles, and automotive & trains are considered under the land platform. Ships, submarines, AUVs, ROVs, and other offshore systems that are used for stabilization & navigation are considered under the naval platform.
The key growth regions will be Asia-Pacific, the Middle East, and North America. The increasing demand for unmanned vehicles such as unmanned aerial vehicle (UAV), remotely operated vehicle (ROV), and autonomous underwater vehicle (AUV) is driving the inertial measurement unit market. An integrated navigation system such as GNSS/INS and GPS/INS has superior performance characteristics, as compared to standalone global navigation satellite system (GNSS) or global positioning system (GPS). These embedded technologies are also driving the IMU market.
For the commercial application, the increase in passenger travel demand in the Middle East and Asia-Pacific countries is the reason for growth in the aircraft market. As IMU is one of the necessities in every aircraft for efficient navigation as it is a prime component of INS, its market is growing alongside the market for aircraft. The demand for IMU is also increasing due to advancement in technology; high availability of low-cost MEMS gyros have made it cheaper, compact, and affordable. The integration of GPS with INS has become more common in aviation.
The IMU market is evolving with the rapid growth in commercial aerospace, defense, and industrial & marine applications. Northrop Grumman Corporation (U.S.), Honeywell International Inc. (U.S.), Thales (France), and Sagem (France) are the leading players in this market. However, Moog Inc. (U.S.), Rockwell Collins (U.S.), VectorNav Technologies (U.S.), Systron Donner Inertial (U.S.), SBG Systems (U.S.), and KVH Industries (U.S.) are other prominent players in this market. They are adopting various strategies to increase their market shares in this market.
Inertial Measurement Unit (IMU) Market by Component - Accelerometer, Gyroscope, Magnetometer, by Application - Commercial, Defense, Industrial & Marine, by Gyro Technology- RLG, FOG, MEMS, HRG, Vibrating Gyro, by Platform – Airborne, Land, Naval, and by Geography - Forecasts & Analysis to 2014 - 2020
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