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Inertial Navigation System Market Size Drivers of Growth Analyzed in a New Research Report

Author : Ronak Bora | Published Date : 2019-05-15 

The inertial navigation system market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

Space launch vehicle segment application is expected to generate maximum demand in the inertial navigation system market owing to the upsurge in satellite launches and growth in space research & exploration events. The global space industry grew in 2015 in terms of technological advancement, although fluctuations in the currency due to economic instability witnessed a decline in revenue from USD 328 billion in 2014 to USD 322 billion in 2015.

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Increase in aircraft orders, advancement in space research leading to the use of a larger number of launch vehicles, and surge in satellite launches will drive industry growth over the forecast period. As per the Aerospace Industries Association (AIA), the total number of global aircraft carrier launches were 203 in 2016.

Inertial Navigation System Market is anticipated to witness surge in demand due to growing applications of the product in high-end defense, naval and space sectors as well as in commercial vehicles. It uses a computer-based arrangement and motion sensors including accelerometers and gyroscopes to estimate the dead rocking position of a specific object. These arrangements are used in exploration applications, where performance and accuracy are of utmost importance, coupled with the overall size and cost.

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The integrated product structure including GPS/INS and GNSS/INS consist superior performance features as compared to global positioning system (GPS) and standalone global navigation satellite system (GNSS). These technologies will be very promising for inertial navigation system market development.

Based on technology, MEMS segment in the inertial navigation system market is anticipated to observe highest growth attributed to technological advances in MEMS based technologies that are resulting in its enhanced applicability for unmanned and small aircraft applications. The technology also allows the user to measure the acceleration of a vehicle for estimating change in velocity by applying several mathematical calculations to time and acceleration of the vehicle.

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Based on aircraft, the navigation grade segment in the inertial navigation system market is expected to witness a surge in demand due to increasing commercial aircraft requirements over the forecast period. According to the Boeing Current Market Outlook 2016, the world requires 41,039 new airplanes in next 15 years. That will be 3.6% increase from current capacity and the value of the orders is calculated to be USD 6.1 trillion.

North America is the largest inertial navigation system market due to ever growing passenger air traffic and technological enhancement by various regional research and development companies. Favorable regulations by the Federal Aviation Administration (FAA) encourages the vendors to expansion and development strategies to enhance their product portfolios.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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