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The Inertial Navigation System Market is Dominated by Asia-Pacific, the Middle East, and North American Regions.
According to Market Research the inertial navigation system market is dominated by Asia-Pacific, the Middle East, and North American regions. Increase in defense budgets in countries like China, India, and South Korea will fuel the growth of the INS market in the defense segment. Though North America is a mature market but low cost micro-electro-mechanical systems (MEMS) technology and increasing demand of inertial navigation systems in naval and commercial application is driving the market in this region.
The inertial navigation system market is estimated at $2.75 billion in 2014 and is expected to reach $4.63 billion by 2019. The inertial navigation system market for the defense segment is estimated at $1.98 billion in 2014 and is expected to reach $3.33 billion by 2019. The inertial navigation system market for the commercial segment is estimated at $770 million in 2014 and is expected to reach $1.29 billion by 2019.
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 navigation system 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 inertial navigation system market.
Northrop Grumman, Honeywell and Sagem (Safran) are the leading players in this market. However, Rockwell Collins, VectorNav Technologies, Systron Donner Inertial, KVH Industries, Raytheon, SBG Systems, Advanced Navigation, Atlantic Inertial System, Teledyne CDL, L-3 Communications, Crossbow Technology, and Kearfott Guidance & Navigation Corporation are other prominent players in this market.
Inertial Navigation System Market by Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade), by Technology (Mechanical, Fiber optic gyro (FOG), Ring laser gyro (RLG), Micro-Electro-Mechanical Systems (MEMS), Hemispherical Resonator gyro (HRG), and Vibrating gyro), by Application (Air, Land, and Naval Platforms), by Geography (North America, Europe, Asia-Pacific, the Middle East, and ROW) - Forecast & Analysis to 2014 - 2019
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