New product Launches, Companies also Adopted the Strategies of Contracts and Expansions to Increase their Fiber Optics Gyroscope Market
Fiber optics gyroscope is used to measure the angular velocity using Sagnac effect. The fiber optics gyroscope market is rapidly growing owing to the increase in demand for remotely operated vehicles in defense and aeronautics industries. The fiber optics gyroscope market is highly competitive because of the presence of a significant number of big players and small players. This market was largely dominated by companies in North America, followed by those in Europe.
The key players in the ecosystem of the fiber optics gyroscope market profiled in this report are EMCORE Corporation (U.S.), Honeywell International, Inc. (U.S.), Colibrys Ltd. (Switzerland), KVH Industries, Inc. (U.S.), Northrop Grumman LITEF GmbH (Germany), Nedaero Components (Netherlands), iXBlue SAS (France), Fizoptika Corp. (Russia), Optolink LLC (Russia), and Al Cielo Inertial Solutions Ltd. (Israel).
Players have implemented different strategies to maintain their position in the fiber optics gyroscopes market and ensure their long-term growth and profitability. Many players have adopted new product launches and developments to increase their technologies demand and cater to diverse application areas. This strategy accounted for a share of ~80% of all the growth strategies adopted by players in this market. Along with new product launches, companies also adopted the strategies of contracts and expansions to increase their market share, expand their geographic presence across the globe, and gain recognition in the fiber optics gyroscope market.
EMCORE Corporation (U.S.) designs and manufactures optical chips, components, systems and subsystems for the broadband and specialty fiber optic gyroscope market. The company provides advanced fiber optics gyroscope and navigation systems to the U.S. to strengthen its position and develop innovative products. The company has its sales offices in France, Germany, Hong Kong, Japan, and Singapore with additional representation by a network of distributors across the globe. The company focuses on innovative products development strategies to strengthen its position in the fiber optics gyroscope market. For example, in 2014, the company launched MINAV or micro inertial navigator fiber optics gyroscope for man-portable and remote/unmanned weapon systems for providing accurate details in the absence of the global positioning systems (GPS).
KVH Industries, Inc. (U.S.) is a premier manufacturer of high-performance sensors, inertial navigation systems (INS), and fiber optic gyroscopes for defense and commercial guidance and stabilization applications as well as communication systems for satellite mobile applications in the leisure, commercial, and government/military markets. Moreover, the company develops, manufactures, and markets its products for the marine and aeronautical sectors mainly in North America, Europe, and Asia. In 2016, the company introduced a low-cost fiber optic gyro technology-based inertial sensor for self-driven cars. Furthermore, the company introduced a developer’s kit to help engineers for integrating sensors into a self-driven car.
Related Reports:
Fiber Optics Gyroscope Market by Sensing Axis (1, 2, and 3), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System, and Attitude Heading Reference System), Application, and Geography - Global Forecast to 2022
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