United States IMU And Inertial Navigation System (INS) Market To Hit USD 8.96 Billion By 2030 | With A CAGR 9.0%

2023-10-05 06:16:36

(MENAFN- GlobeNewsWire - Nasdaq) Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The United States IMU and Inertial Navigation System (INS) market size was valued at USD 4.57 billion in 2022 and is projected to grow from USD 4.89 billion in 2023 to USD 8.96 billion by 2030, exhibiting a CAGR of 9.0% during the forecast period.

An Inertial Navigation System (INS) is an electronic device that utilizes inertial sensors and strategies to determine an object's direction, velocity, location, and orientation. With components, such as GNSS receivers and IMUs, INS is increasingly applied in autonomous vehicles, UAVs, and robots, driving market growth, particularly in the U.S. Fortune Business Insights presents this information in their report titled "United States IMU and Inertial Navigation System (INS) Market , 2023–2030."

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List of Key Players Profiled in the United States IMU and Inertial Navigation System (INS) Market Report:

General Electric Company (U.S.)
Gladiator Technologies (U.S.)
Honeywell International Inc. (U.S.)
L3 Harris Technologies (U.S.)
Northrop Grumman Corporation (U.S.)
Parker Hannifin Corporation (U.S.)
Raytheon Technologies Corporation (U.S.)
Teledyne Technologies Incorporated (U.S.)
Trimble Inc. (U.S.)
VectorNav Technologies LLC. (U.S.)
EMCORE Corporation (U.S.)

Report Scope & Segmentation:

Report Coverage	Details
Forecast Period	2023-2030
Forecast CAGR	9.0%
2030 Value Projection	USD 8.96 Billion
Market Size in 2023	USD 4.89 Billion
Historical Data	2019-2021
No. of Pages	150
Report Coverage	Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered	BY COMPONENT ANALYSIS By Technology Analysis By Platform Analysis By End-user Analysis
Regions Covered	North America Europe Asia Pacific South America Middle East and Africa
U.S. IMU and Inertial Navigation System (INS) Market Growth Drivers	Rising Demand for Autonomous Cars and UAVs to Catalyze the Inertial Navigation System Market Growth
Key Developments and Adoption of Industrial Robots to Drive the Inertial Measurement Units Market across the U.S.

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Segments:

INS Segment Takes the Lead with Surging Demand for Lightweight and High-Performance Solutions

By component, the market is segmented into accelerometer, gyroscope, magnetometer, and inertial navigation system. The INS segment leads and will grow the fastest with increasing demand for lightweight, high-performance solutions in autonomous vehicles. MEMS-based navigation systems adoption also enhances accuracy, while INS applications in UAVs, military vehicles, and aircraft drive growth in the U.S in the IMU and Inertial Navigation System (INS).

MEMS Segment Leads the Market with Rapid Growth Driven by Integrated Sensors and Higher Accuracy

By technology, the market is classified into mechanical gyro, ring laser gyro, fiber optics gyro, MEMS, Hemispherical Resonator Gyroscope (HRG), and others. The MEMS segment is currently leading the IMU and Inertial Navigation System (INS) market and is expected be the fastest growing over the forecast period. This growth is attributed to integrating MEMS sensors into navigation systems, driven by their higher accuracy and lightweight characteristics.

Ground Segment Takes the Lead with Rapid Growth in Inertial Sensor Applications

By platform, the market is segregated into airborne, ground, maritime, and space. The ground segment is the current market leader in the U.S. for IMU and Inertial Navigation System (INS) and is anticipated to be the fastest-growing as inertial sensors within this segment find use in ground-based applications such as automotive, smart wearables, medical services, and more.

Aerospace and Defense Segment Dominates with Crucial Role in UAVs and Aircraft Control

By end-user, the market is categorized into aerospace and defense, consumer electronics, marine/naval, automotive, and others. The aerospace and defense segment holds the largest market share in the IMU and Inertial Navigation System (INS) in the U.S. due to aeronautic devices' vital roles in controlling, navigating, guiding, and stabilizing Unmanned Aerial Vehicles (UAVs) and aircraft. This segment's growth is fueled by the increasing demand for UAVs and the expansion of aircraft fleets.

Russia-Ukraine War Impact:

Russia-Ukraine Conflict Drives Surge in Aerospace and Defense Demand for IMU/INS Technology

The Russia-Ukraine conflict has increased the demand for IMU/INS technology in the aerospace and defense industry, with major investments in improving these systems to counter anti-jamming technologies. The conflict's impact on GPS signal disruptions and the need for accurate navigation in challenging environments have elevated the importance of IMUs and INS in fighter jets, ground vehicles, naval vessels, and UAVs for successful mission outcomes.

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Report Coverage:
The research report presents a comprehensive market examination, emphasizing crucial elements, including the competitive environment, distribution channels, and prominent product categories. Furthermore, the report provides valuable observations on market trends and significant industry advancements. Apart from the aforementioned factors, the report encompasses numerous variables that have bolstered market expansion in recent times.

Drivers and Restraints:

Investments by Automakers and Tech Giants Fuel Growth in Mobility and Military Applications

Investments from leading automakers and technology firms in autonomous driving are expected to drive market growth in the mobility industry. Notably, Hyundai, Kodiak Robotics, Nvidia, and Foxconn are actively contributing to the advancement of autonomous vehicles and platforms. Additionally, the increasing use of UAVs for military purposes further contributes to market expansion, as seen in Inertial Labs' development of GPS-aided INS systems designed for airborne platforms such as UAVs.

However, calibration errors could present a significant challenge to the U.S. IMU and Inertial Navigation System (INS) market growth.

Competitive Landscape:

Leading Manufacturers Collaborate for Cutting-Edge IMU and INS Solutions

Several distinguished manufacturers of IMU and INS in this market are dedicating their efforts to creating cutting-edge products to attain a competitive advantage. Within the competitive landscape, there are instances of private organizations collaborating on advanced technologies that have the potential to augment the U.S. IMU and Inertial Navigation System (INS) market share.

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Detailed Table of Contents:

Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
Executive Summary
Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Impact of COVID-19 on U.S. IMU & Inertial Navigation System (INS) Market
- Impact of Russia-Ukraine War on U.S. IMU & Inertial Navigation System (INS) Market
U.S. IMU & Inertial Navigation System (INS) Market Analysis, Insights and Forecast, 2019-2030
- Key Summary / Definitions
- Market Analysis, Insights and Forecast – By Component
  - Accelerometer
  - Gyroscope
  - Magnetometer
  - Inertial Navigation System
- Market Analysis, Insights and Forecast – By Technology
  - Mechanical Gyro
  - Ring Laser Gyro
  - Fiber Optics Gyro
  - MEMS
  - Hemispherical Resonator Gyroscope (HRG)
  - Others
- Market Analysis, Insights and Forecast – By Platform
  - Airborne
  - Ground
  - Maritime
  - Space
- Market Analysis, Insights and Forecast – By End User
  - Aerospace and Defense
  - Consumer Electronics
  - Marine / Naval
  - Automotive
  - Others
Competitive Analysis
- Competition Dashboard
- U.S. IMU and INERTIAL NAVIGATION SYSTEM (INS) Market Ranking Analysis by Key Players, 2022
Company Profiles
- General Electric (U.S.)
  - Overview
  - Products & services
  - SWOT analysis
  - Recent developments
  - strategies
  - financials (based on availability under public domain)
- Gladiator Technologies (U.S.)
  - Overview
  - Products & services
  - SWOT analysis
  - Recent developments

TOC Continued...!

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Key Industry Development:

September 2022: Collins Aerospace secured a contract from the U.K. government to develop a navigation-grade Inertial Measurement Unit (IMU) using Micro-Electro-Mechanical Systems (MEMS) technology in alignment with the Weapons Sector Research Framework for future weapons platforms.

Read Related Insights:

Inertial Navigation System Market Size to Hit USD 15.45 Billion by 2028 | At a CAGR of 5.54%

Inertial Measurement Unit (IMU) Market Size Worth USD 24.91 Billion by 2027; Increasing Application of Artificial Intelligence-powered Devices in Military Operations to Aid Market Growth, Says Fortune Business InsightsTM

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