An inertial navigation system evaluates inputs from accelerometers and gyroscopes to track the position and orientation of an object relative to the starting point and velocity of the object. Inertial navigation systems are utilized across airborne, ground, and naval platforms.
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. This growth can be attributed to increasing aircraft orders due to the rise in passenger traffic across the globe and the availability of INS components in compact sizes and at affordable prices.
Major players operating in the inertial navigation system market include Honeywell International Inc. (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), Rockwell Collins, Inc. (US), and Thales Group (France). These key players offer various technologies such as Ring Laser Gyro (RLG), Fiber Optics Gyro (FOG), and Microelectromechanical Systems (MEMS) in inertial navigation systems. These companies have well equipped manufacturing facilities and strong distribution networks across North America, Europe, and the Asia Pacific.
Honeywell International, Inc. (US) is one of the leading companies in the inertial navigation system market. The company has a strong presence in North America and Europe, besides catering to the Asia Pacific region. The company provides products for air, land, marine, and space applications and has also formed joint ventures and entered into partnerships to cater to North America, Europe, and Asia Pacific inertial navigation system markets. In 2017, General Dynamics Land Systems, UK awarded a contract to Honeywell, Inc. for the procurement of inertial land navigation systems for its AJAX armored fighting vehicles.
Northrop Grumman Corporation (US) is another major player in the inertial navigation system market. The company provides products and solutions across all grades of INS including navigation, tactical, marine, space, and commercial. The company has a strong presence in Europe and North America, and has a very high breadth of offerings, and delivery and support, and excellent product distribution. In 2017, Northrop Grumman Corporation received a contract from the US Air Force to provide hardware and software architecture design for embedded GPS/INS modernization in legacy aircraft. This design and technology offered by Northrop Grumman Corporation is compatible with current systems on legacy aircraft used by the Air Force, allowing ease of integration and rapid adoption of new capabilities.
Inertial Navigation System Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (Mechanical, Ring Laser, Fiber Optic, Mems), Application (Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022
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