Inertial Navigation System (INS) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Inertial Navigation System (INS) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Inertial Navigation System Market

The inertial navigation system market, which hit a value of USD 11.61 billion in 2022, is expected to see a rise from USD 12.29 billion in 2023 to USD 22.15 billion by 2030, showing a steady growth rate of 8.77% over the forecast period from 2023 to 2030.

COVID-19 disrupted supply chains which led to decreased demand for navigation gadgets. This affected marketplace size growth as area, satellite tv for pc, and car industries canceled or changed packages. Overall COVID-19 hampered the expansion of the inertial navigation system marketplace size.

The growing use of artificial intelligence and gadget mastering technologies has caused a developing demand for navigation systems. Robotic automobile production has surged, that is essential in scenarios just like the warfare between Russia and Ukraine whilst unique position is wanted for goal planning. These structures offer vital statistics on the placement, orientation, and pace of a moving body. They are made of sensors like accelerometers and gyroscopes.

The making of the smaller navigation system components is the most recent trend in the inertial navigation system industry, and it is a result of the growing need for unmanned vehicle solutions. This trend provides outstanding performance at reduced cost, size, and weight, which propels inertial navigation system market growth.

Comprehensive Analysis of Inertial Navigation System Market

The segmentation helps companies focus on specific customer groups, leading to better products and services tailored to their requirements. The market thus continues to grow over time. It is segmented by component into accelerometers, gyroscopes, and other components. Furthermore, it is categorized by technology, including mechanical gyro, ring laser gyro, fiber optics gyro, MEMS, and others. The segmentation extends to platforms, such as airborne, ground, maritime, and space, and by end-users, encompassing both commercial and military sectors.

North America leads the inertial navigation system market share because it houses major manufacturers and developers. The region's increased spending on military solutions, along with growing aircraft and space exploration programs, drives market growth.

Major corporations which impact the communication, navigation, and surveillance sectors and set standards have a significant influence on the development of the inertial navigation system industry. Northrop Grumman Corporation (USA), Honeywell International Inc. (USA), Safran S.A. (France), Thales Group (France), Teledyne Technologies Incorporated (USA), General Electric Company (USA), Parker Hannifin Corporation (USA), iXblue SAS (France), Raytheon Technologies Corporation (USA), VectroNav Technologies LLC. (USA), Trimble Inc. (USA), and Gladiator Technologies (USA) are some of the major participants.

In May 2023, Exail secured a contract from the U.S. Coast Guard to replace outdated gyrocompass systems on 175-ft WLM Keeper Class Buoy Tenders. The contract spans ten years, covering basic years and nine optional periods. It includes the installation of Octans gyrocompasses and Netans Navigation Data Distribution Systems NDCs.

Segmentation Table

Global Inertial Navigation System Market Scope

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 8.77% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By By Component, By Technology, By Platform, By End-User, By Geography

By Component

- Accelerometers

- Gyroscopes

- Others

By Technology - Mechanical Gyro

- Ring Laser Gyro

- Fiber Optics Gyro

- MEMS

- Others

By Platform - Airborne

- Ground

- Maritime

- Space

By End-User - Commercial

- Military

By Geography - North America (By Component, Technology, Platform, End-User, and Country)

- U.S. (By End-User)

- Canada (By End-User)

- Europe (By Component, Technology, Platform, End-User, and Country)

- U.K. (By End-User)

- Germany (By End-User)

- France (By End-User)

- Rest of Europe (By End-User)

- Asia Pacific (By Component, Technology, Platform, End-User, and Country)

- China (By End-User)

- Japan (By End-User)

- India (By End-User)

- Rest of Asia Pacific (By End-User)

- Rest of the World (By Component, Technology, Platform, End-User, and Sub-Region)

- Latin America (By End-User)

- Middle East and Africa (By End-User)