Global “Navigational Inertial Systems Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Navigational Inertial Systems in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Navigational Inertial Systems Market report categorizes the market based on manufacturers, regions, type, and application. Navigational Inertial Systems Market reports offer a detailed assessment of the Navigational Inertial Systems including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Navigational Inertial Systems market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The navigational inertial systems market is expected to register a CAGR of 9.81%, during the forecast period (2018-2023). The scope of the market covers various holistic solutions offered by the leading vendors of the market. The scope is limited to the end-user applications such as defence and aerospace, commercial, land/naval, and industrial.
The growth of this market is largely fuelled by technological advancements, and the growing demand in emerging countries of the Asia-Pacific region. Further, the growth can be attributed to the increasing demand for accuracy in navigation aids and emergence of MEMS systems.
Growing Number of Connected Cars Is Expected to Drive the Adoption of Navigational Inertial Systems
The automotive industry is undergoing a wave of innovation andwith the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever beforeis witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services the demand for connected cars has been soaring, and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2021.
Alongside the burgeoning connectivity, there is a growing demand for accuracy in navigation for these autonomous cars. Since high level of accuracy and reliability are the prime features of a navigational system, these navigational systems have a distinctive advantage over other forms of navigation systems, in terms of their lack of dependence on external aids to determine the rotation and acceleration of a moving object. The systems are inherently suited for use in integrated navigation, control, and guidance of vehicles in challenging environs. Unlike GPS and other kinds of navigation systems, inertial systems can retain their performance even under difficult conditions. Thus, the increasing number of connected cars has buoyed the adoption of inertial navigational systems.
North America to Hold the Largest Market Share
North America held the highest share of the market in 2017. The primary demand for navigational inertial Systems is observed in the maritime sector and the aircraft industry, for both commercial and defence purposes. In 2016, the United States defence spending was more than USD 611 billion, which represented 36% of the total world military expenditure (USD 1686 billion). In the last three years, however, as a result of global political situation and conflicts in Afghanistan and Iraq, the United States Department of Defence cut down their defence budget. Nonetheless, the decrease in military spending is expected to be offset by the steady growth in aerospace and land-based applications in the United States. The increase in the production of helicopters and commercial aircrafts is driving the market for navigational inertial systems. This huge aerospace industry of the United States exports more than 60% of the total aerospace production. Various foreign firms are attracted to the United States aerospace market, as it is the largest in the world, employing a skilled and hospitable workforce, with diverse offerings and extensive distribution systems. According to the United States Department of Commerce, the United States aerospace industry has contributed to about USD 147 billion to the United States economy in the form of export sales. It is estimated that for the next 20 years, the number of large commercial planes will grow at a rate of 3.5% per year, to reach a total of 34,000 units valued at USD 4.5 trillion. Further, the increasing penetration of automated guided vehicles coupled with the growing number of connected cars in the region is expected to bolster the demand for navigational inertial systems during the forecast period.
Aerospace and Defence to Hold a Lions Share of the Market
Inertial navigation is used in a wide range of applications, including the navigation of aircraft, tactical and strategic missiles, spacecraft, submarines, and ships. As INS systems in aircrafts are mandate for efficient navigation, the growth is directly affected by the growth of the aircrafts globally. However, factors, such as increasing demand for accuracy in navigation and high availability of small and robust components are expected to have a significant impact on the global market, resulting in its exponential growth in the future. The increased use of satellite navigation for commercial application the growth of the global market. Some of the factors that might hinder the growth of the market are system initialization and error propagation. North America and Europe are expected to have the largest market share for inertial navigational systems, in terms of commercial aviation and defence aviation. However, increase in number of programs launched in Asia-Pacific and Middle East for INS development is expected to drive the market in the respective regions. The growth in Asia – Pacific is further supported by the increase in defence budget in countries, like China, India, and South Korea. Several countries are investing heavily in order to strengthen their naval defense. The increasing demand for unmanned aerial vehicle (UAV) also offers tremendous growth opportunities for the inertial navigational systems market and thus, aids the market growth during the forecast period.
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The global Navigational Inertial Systems market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Navigational Inertial Systems Market Report covers the Top Key-players in 2021:-
- Analog Devices Inc.
- Northrop Grumman Corporation
- Safran Group (Colibrys Switzerland) Ltd.
- Rockwell Collins
- Honeywell International Inc.
- Invensense Inc.
- Kearfott Corporation
- KVH Industries
- Thales Group
- Xsens Technologies B.V.
- Sparton Corporation
- Epson Europe Electronic
- Vector NAV
Highlighted points of Navigational Inertial Systems Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Navigational Inertial Systems Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Navigational Inertial Systems? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Navigational Inertial Systems Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Navigational Inertial Systems Market? What Was Capacity, Production Value, Cost and PROFIT of Navigational Inertial Systems Market?
- What Is Current Market Status of Navigational Inertial Systems Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Navigational Inertial Systems Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Navigational Inertial Systems Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Navigational Inertial Systems Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Navigational Inertial Systems Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Navigational Inertial Systems Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Navigational Inertial Systems Industry?
Key Developments in the Navigational Inertial Systems Market:
September 2017 – Northrop Grumman announced to acquire Orbital ATK for approximately USD 7.8 billion. This acquisition is aimed at strategically combining Northop and Orbitals to enhance and complement the companys capabilities in the aerospace and defence sector
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Finally, the report Global Navigational Inertial Systems Market 2021 describes the Navigational Inertial Systems industry expansion game plan, the Navigational Inertial Systems industry knowledge supply, appendix, analysis findings, and the conclusion.
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