Navigational Inertial Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.55 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
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Navigational Inertial Systems Market Analysis
The inertial navigation system market is expected to grow at a CAGR of 5.55% over the forecast period (2021-2026). An inertial navigation system (INS) is a navigation technique in which accelerometers and gyroscopes provide measurements and are used to track an object's orientation and position relative to a known starting point, orientation, and velocity.
- INS is an autonomous system with excellent concealment. It is independent of any external information, which does not radiate energy to external space, making it applicable in sea, airspace, or underground. Since the inertial navigation system updates the data quickly and possesses the advantages of accuracy and stability with small size and lightweight, it can provide comprehensive navigation data, such as the location. Thus, the INS plays a critical role in military and civilian navigation.
- For instance, the US Navy awarded a contract to Northrop Grumman Corporation to develop the replacement inertial navigation system (INS-R) deployed on navy combat and support ships. INS-R provides increased navigation accuracy in challenging maritime combat environments.
- Inertial navigation systems are also suitable for unmanned systems, widely used on unmanned aerial vehicles (UAV) and unmanned underwater vehicles (UUV). These are extensively used across oil and gas and defense industries. UUVs are mainly used for counter-attacking, deactivating underwater mines, and port security in the defense sector. The INS employed in these unmanned systems provides better navigation and accurate positional data. This is expected to fuel demand during the forecast period.
- Increasing governmental measures concerning the adoption of unmanned vehicles in various countries are expected to impact the growth of the market studied. For instance, according to the Association for Unmanned Vehicle Systems International, the US military had proposed spending USD 9.6 billion in 2019 (which was an increase of 28% over the previous year) on unmanned vehicle systems.
- The inertial navigation system will be adopted in guiding autonomous cars. The INS, comprising an inertial measurement unit and other sensors, provides the position, velocity, and attitude information of a vehicle. Aceinna, in 2019, launched a high-performance, dual-band, real-time kinematic inertial navigation system with built-in inertial sensors for automotive applications. The device, INS1000, embeds nine-degree-of-freedom inertial sensor technology to achieve automotive dead reckoning performance in GNSS-challenged environments, such as heavily tree-lined roads, tunnels, underpasses, and bridges.
- However, automakers have faced increased pressure to shut down their factories due to the COVID-19 pandemic. After governments started recommending that people stay in their homes as much as possible, it has caused supply chain disruptions across various industries.
Navigational Inertial Systems Market Trends
This section covers the major market trends shaping the Navigational Inertial Systems Market according to our research experts:
Aerospace and Defense Sector Dominates the Inertial Navigation System Market
- Fresh investments in military and naval applications encourage the inertial navigation system market. The blooming aerospace market and technological advancements in navigations systems are further anticipated to drive the market. Inertial Navigation System gives exact navigation and positioning information to fight platforms when engaged in missions, whether for their location or the pointing of weapons systems (artillery, missile, etc.), sensors (radars, optronics, etc.), or weapons themselves. They deliver valuable assistance to these systems while ensuring the best security. On advanced fighters like the Rafale, INS gives fully autonomous operation and resistance to electronic warfare. The European helicopter NH90 has also installed this technology.
- Aircraft carriers need to harmonize the ship's navigation system with those on its aircraft. An inertial Navigation System guarantees the ship's capability to work in a critical magnetic environment, without castigating performance, an ideal solution for new-generation submarines. Out on the battlefield, artillery systems have to offer extraordinary precision, extreme shock resistance. As the commercial aviation market is increasing at a more accelerated rate due to the exponential rise in air passenger traffic, the demand for new aircraft is growing year on year. This increasing demand is expected to drive the navigational grade INS market during the forecast period.
- The increasing military spending across multiple regions paves the way for technologies like drones/unmanned aerial vehicles (UAVs). In addition, the usage of the inertial navigation system in traditional fighter jets is increasing significantly. The factors mentioned above are creating an exponential demand for inertial navigation systems in terms of volumes as well. These solutions that have minimum standardization, based on applications, are highly customizable. However, the manufacturers are often challenged by the long production time, leading to the technology becoming obsolete by the end of the production period.
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North America to Hold Maximum Market Share
- The North American segment is expected to account for a significant share of the overall market. The region's primary demand for inertial systems is observed in the defense sector to provide accurate navigation and positioning information to combat platforms when engaged in missions.
- Inertial tactical navigation systems are battle-proven solutions adopted by the US Army. As the military sector demand assured positioning and navigation solutions, the demand for INS systems is expected to increase rapidly.
- There is also a demand for inertial systems in the US maritime sector, primarily owing to the renewed emphasis on oil exploration activities. Moreover, the exploration activities of oil rigs require high-performance gyroscopes and accelerometers to provide the right self-contained sensing system, inertial measurement unit, and inertial gyroscopes offer accurate solutions for platform stabilization, where outstanding bias stability is essential in applications, such as offshore oil rigs.
- With offshore oil and gas in the United States accounting for a significant portion of the country's oil and gas supply and large oil and gas reservoirs found under the sea offshore from Louisiana, Texas, California, and Alaska, the demand for inertial systems and equipment is higher.
- Companies in the region invest in developing new products to cater to the needs of the end-user verticals. For instance, Northrop Grumman Corporation, an aerospace and defense technology company in 2019, launched SeaFIND (Sea Fiber Optic Inertial Navigation with Data Distribution), a next-generation maritime inertial navigation system. This is ideal for applications where low cost and reduced size, weight, and power requirements are critical.
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Navigational Inertial Systems Industry Overview
Navigational Inertial Systems Market is moderately concentration with a number of key players in the market.
- Sep 2020: Northrop Grumann Corporation announced that it has successfully completed the critical design review (CDR) milestone for the embedded global positioning system (GPS)/ inertial Navigation System (INS)- Modernization, or EGI -M, program.
- July 2020: Honeywell expanded its navigation offerings by introducing the HGuide n380, a new inertial navigation system that communicates the position, orientation, and velocity of an object such as an autonomous vehicle or unmanned aerial vehicle (UAV)
Navigational Inertial Systems Market Leaders
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Northrop Grumman Corporation
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MEMSIC Inc.
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Tersus GNSS
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Honeywell International Inc.
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Inertial Sense Inc.
*Disclaimer: Major Players sorted in no particular order
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Navigational Inertial Systems Market News
- August 2020: VectorNav Technologies, Llc introduced a novel line of Miniature inertial measurement unit and GNSS/inertial navigation System products: the VectorNav Tactical Embedded.
- Feb 2020: USAF awarded Honeywell a USD 3.52 billion GPS Inertial Navigation Contract for Embedded GPS Inertial Navigation System Modernization (EGI/EGI-M) follow-on production and sustainment.
Navigational Inertial Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness-Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitute Products
- 4.3 Technology Snapshot
- 4.4 Assessment of the Impact of COVID-19 on the INS Market
5. Market Dynamics
- 5.1 Market Drivers
- 5.2 Market Restraints
6. MARKET SEGMENTATION
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6.1 End-User Industry
- 6.1.1 Aerospace and Defense
- 6.1.2 Marine
- 6.1.3 Automotive
- 6.1.4 Industrial
- 6.1.5 Other End-user Industries
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6.2 Type of Gyro System
- 6.2.1 MEMS
- 6.2.2 Optical Gyros (FOG, RLG)
- 6.2.3 Others (Vibration based, DTG Gyro, Acoustic Gyros, etc)
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6.3 Geography
- 6.3.1 North america
- 6.3.2 Europe
- 6.3.3 Asia-Pacific
- 6.3.4 Rest of the world
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Honeywell International Inc.
- 7.1.2 Northrop Grumman Corporation
- 7.1.3 Novatel Inc
- 7.1.4 MEMSIC Inc.
- 7.1.5 Tersus GNSS Inc.
- 7.1.6 Lord Microstrain (Parker Hannifin Corp.)
- 7.1.7 Inertial Sense LLC
- 7.1.8 Oxford Technical Solutions Ltd
- 7.1.9 Aeron Systems Pvt. Ltd
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityNavigational Inertial Systems Industry Segmentation
An inertial navigation system (INS) is a navigation aid that uses a computer with reference to the computation process, which is used to control the initial velocity and position of a moving object irrespective of external positions, uses stable platform techniques. The inertial sensors in the system are installed on a constant stage and mechanically isolated from the vehicle's rotating motion by providing better systems integrity and allowing the navigation system to coast through short GPS outages with high accuracy.
Navigational Inertial Systems Market Research FAQs
What is the current Navigational Inertial Systems Market size?
The Navigational Inertial Systems Market is projected to register a CAGR of 5.55% during the forecast period (2024-2029)
Who are the key players in Navigational Inertial Systems Market?
Northrop Grumman Corporation, MEMSIC Inc., Tersus GNSS, Honeywell International Inc. and Inertial Sense Inc. are the major companies operating in the Navigational Inertial Systems Market.
Which is the fastest growing region in Navigational Inertial Systems Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Navigational Inertial Systems Market?
In 2024, the North America accounts for the largest market share in Navigational Inertial Systems Market.
What years does this Navigational Inertial Systems Market cover?
The report covers the Navigational Inertial Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Navigational Inertial Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Navigational Inertial Systems Industry Report
Statistics for the 2024 Navigational Inertial Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Navigational Inertial Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
