Fiber Optic Gyroscope Market Trends

Statistics for the 2023 & 2024 Fiber Optic Gyroscope market trends, created by Mordor Intelligence™ Industry Reports. Fiber Optic Gyroscope trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Fiber Optic Gyroscope Industry

Aerospace and Aviation Segment to Dominate the Market

  • The aerospace and aviation industry, a major end-user of fiber optic gyroscopes, extensively employs these devices in flight control, ground detection, and dynamic global positioning system (GPS) tracking. Coupled with rising investments in the aviation sector, particularly in the Asia-Pacific region, this trend is set to bolster the demand for fiber optic gyroscopes.
  • For instance, India is rapidly establishing itself as one of the world's largest aviation markets. Over the past year, leading Indian airlines, including Air India, Indigo, and Akasa Air, collectively placed orders for more than 1,100 aircraft, marking one of the largest commercial aircraft orders in global history.
  • Similarly, the global market mirrors this trend. Boeing, a leading name in commercial aircraft manufacturing, projects that from 2023 to 2042, the global commercial fleet will welcome approximately 42,595 new aircraft deliveries. Given the prominent role of fiber optic gyroscopes (FOGs) in aircraft navigation systems, monitoring motion in aviation, and capturing metrics like angular velocity and speed, such instances are poised to propel the growth of the market.
  • As countries like India ramp up their space missions, the growing activities in the space exploration sector are set to boost the market studied, especially since FOGs play a crucial role in space rockets and related systems. Moreover, the emergence of private companies like SpaceX and Blue Origin, with their vision of making space travel a reality, further amplifies the opportunities in the market studied.
  • As reported by Jonathan Space Report, 2023 witnessed approximately 9,115 active satellites orbiting Earth, marking a 35% surge from the prior year's count. Gyroscopes play a pivotal role in space vehicles and launch rockets, enabling them to detect orientation and angular motion. This capability allows precise control and tracking of the craft's movement from its initial position. Consequently, the uptick in satellite launches fosters a conducive environment for the growth of the market studied.
Fiber Optic Gyroscope Market: Estimated Delivery in Global Commercial Aircraft Fleet, by Aircraft Type, 2023-2042

Asia-Pacific to Witness a Significant Growth Rate

  • In the coming years, the Asia-Pacific is set to witness significant market growth, driven by rising defense budgets in several emerging economies. Notably, China and Japan are leading the demand for fiber optic gyroscopes in the region. Contributing to this growth are factors such as heightened R&D activities in the aerospace and defense segment, swift industrialization, and substantial investments to enhance sensors, drones, and unmanned maritime vessels.
  • China's emergence as a manufacturing hub for the automobile industry, coupled with its new development plans for driverless vehicles, is spurring the adoption of fiber optic gyroscopes. The tightening of regulations in countries like China, Japan, and South Korea has further incentivized corporate investments. As a result, end-user companies increasingly prioritize orientation measurement in various monitoring systems, underscoring the market's expansion.
  • In recent years, India has emerged as a leading spender on military and defense products, making it a lucrative market for FOGs. For example, in February 2024, the US State Department approved a potential USD 3.9 billion deal for General Atomics MQ-9B drones to India. This deal underscores the strengthening of defense and security cooperation between Washington and New Delhi. The proposed package for the Indian military encompasses 31 SkyGuardian unmanned aerial vehicles, 310 Small Diameter Bombs, and 170 Hellfire missiles. The package includes radars and anti-submarine equipment for the maritime-focused SeaGuardian variant.
  • India is making notable strides in aerospace and defense production, driving opportunities in the studied market. For instance, recently, Adani-Elbit Advanced Systems India Ltd, India's inaugural private UAV manufacturing facility, successfully delivered over 20 Hermes 900 medium-altitude, long-endurance (MALE) UAVs to Israel. This joint venture, based in Hyderabad and formed between India's Adani Defence and Aerospace and Israel's Elbit Systems, proudly stands as the first entity to produce these UAVs outside of Israel.
  • Other countries are witnessing similar trends. For example, China is actively bolstering its UAV capabilities. According to the Civil Aviation Administration of China (CAAC), by the end of 2023, China boasted 1.27 million registered drones, marking a 32.2% increase from the prior year. Consequently, these trends and advancements are poised to fuel the growth of the market studied in the region during the forecast period.
Fiber Optic Gyroscope Market: Market CAGR (%), By Region, Global

Fiber Optic Gyroscope Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)