Global Inertial Navigation Systems Market 2024-2031

Global Inertial Navigation Systems Market 2024-2031

Inertial Navigation Systems Market Size, Share & Trends Analysis Report by Platform (Aircraft, Missiles, Space Launch Vehicles, Marine, Military Armored Vehicle, Unmanned Aerial Vehicle, Unmanned Ground Vehicle, and Unmanned Marine Vehicle), by Component (Accelerometers, Gyroscopes, and Algorithms & Processors), by Grade (Marine Grade, Navigation Grade, Tactical Grade, Space Grade, and Commercial Grade), and by End-User (Commercial & Government, and Defense) Forecast Period (2024-2031)

Inertial navigation systems market is anticipated to grow at a significant CAGR of 14.2% during the forecast period (2024-2031). The market growth is attributed to the growing deployment of unmanned marine vehicles and advancements in sensor design and data processing algorithms. The ongoing technological evolution to enhance the efficiency of products and services is also contributing to the global inertial navigation system market.

Market Dynamics

Increasing Advancement in Inertial Navigation Systems Technologies

Market demand has a direct impact on the way inertial measurement unit technology is developing. Reducing size and energy usage is the primary development necessity, similar to other technologies. This trend, which is probably going to continue, supports their usage in industrial navigation, robotics, and biomechanics. These systems are widely used in space, military, and defense applications for the advancement of microelectromechanical systems.

Market Segmentation

Based on the platform, the market is segmented into aircraft, missiles, space launch vehicles, marine, military armored vehicles, unmanned aerial vehicles, unmanned ground vehicles, and unmanned marine vehicles.

Based on the component, the market is segmented into accelerometers, gyroscopes, and algorithms & processors.

Based on the grade, the market is segmented into marine grade, navigation grade, tactical grade, space grade, and commercial grade.

Based on the end-user, the market is segmented into commercial & government, and defense.

Accelerometers are Projected to Hold the Largest Segment

The primary factors supporting the growth include the growing demand for precise motion detection systems. As the exact position and orientation data are calculated with acceleration and velocity changes, accelerometers are vital components of the inertial navigation system. High-performance accelerometers have grown increasingly important owing to the growing use of inertial navigation systems in several industries, such as aviation, maritime, and defense. Additionally, the market for inertial navigation systems is driven by the development of accelerometers owing to developments in sensor technology, including smaller size and increased sensitivity. Accelerometers emerge as a critical component fueling the growth and innovation within the inertial navigation systems market, as industries continue to pursue accurate navigation solutions.

Defense Segment to Hold a Considerable Market Share

For missile guidance, reconnaissance, and navigating difficult areas, defense agencies mostly depend on accurate in-flight navigation systems. Reliable navigation systems are critical in locations where GPS reception is restricted, especially as modern combat gets increasingly sophisticated. The military industry's inertial navigation system market continues to expand as funds are allotted by the defense budget to improve navigational capabilities. In October 2023, VectorNav Technologies announced two new inertial navigation systems featuring enhanced GNSS receivers. VectorNav is expanding its lineup of tactical GNSS/INS solutions with the VN-210-S and VN-310-S, bringing all-new GNSS capabilities and improved performance to operations in GNSS-contested environments. Ongoing product development for the defense sector is also contributing to the growth of this market segment.

Regional Outlook

Global inertial navigation systems market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Growing Demand for Inertial Navigation Systems in Asia-Pacific

The growing demand for combat platforms with precise navigation and positioning data during missions by the expanding aerospace industry across the region is a key factor driving the regional market growth. The growing number of legislative regulations pertaining to the use of unmanned vehicles, and technological developments in navigation systems further aiding the regional market growth.

North America Holds Major Market Share

The market growth is attributed to increased demand for improved inertial navigation systems for guidance, targeting, and navigation by regional defense agencies. The demand for accurate, reliable, and precise navigation systems in both military and commercial aircraft is driving the aerospace industry, which is driving market expansion with top aerospace companies such as Northrop Grumman Corp., Collins Aerospace, and Teledyne Technologies Inc. The government in the region advancing inertial navigation aims to provide navigation information anywhere GPS is unavailable. For instance, in April 2024, US Naval Research Laboratory (NRL) researchers developed a patent-pending Continuous 3D-Cooled Atom Beam Interferometer derived from a patented cold and continuous beam of atoms to explore atom-interferometry-based inertial measurement systems as a path to reduce drift in naval navigation systems.

Market Players Outlook

The major companies serving the inertial navigation systems market include Analog Devices, Inc., BAE Systems, Plc, Honeywell International Inc., Northrop Grumman Corp., and Thales Group among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.

Recent Development

In August 2022, the MEMSIC MEMS technology solution provider released the first MEMS 6-axis inertial sensor (IMU) MIC6100AL. The product integrates a 3-axis gyroscope and a 3-axis accelerometer, which can support motion sensing interactive systems such as game controllers and smart remote controls, with sensitive sensing and greatly enhancing user experience. MEMSIC has a strong algorithm team to provide users with algorithm support, which can meet the needs of rich application scenarios.