Market Size of NA Inertial Systems Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.90 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Inertial Systems Market Analysis
The North American inertial system market is expected to register at a CAGR of 5.9% over the forecast period.
- Inertial system equipment includes gyroscopes, accelerometers, inertial measurement units, inertial navigation systems, and multi-axis sensors. The report segments the market by area of application with an in-depth analysis of every segment in each area. Aerospace, land-based, marine, and sub-sea applications are explained with a comprehensive market analysis of each segment.
- The United States has one of the highest numbers of submarines and warships. It has around 68 submarines and more than 490 ships with the US Navy. It is also home to big shipping yards that make ships. Inertial systems are key to these ships and submarines. Thus, with the growing production of submarines and warships for the defense sector and ships for increasing trade, the inertial sensors market is estimated to grow in the coming years.
- The changes in lifestyles worldwide have resulted in the need for equipment with greater ease of use, enabled by the use of motion-sensing technology, which uses inertial sensors extensively. It is a key driving factor in the market and will play an important role in defining the market for the next few years.
- The North American inertial navigation market is now mature. However, the advanced technology and demand for low-cost micro-electro-mechanical systems (MEMS) are boosting the market's growth. The Fiber Optic Gyro (FOG), Ring Laser Gyro (RLG), and MEMS are the major technologies adopted in the region for technological advancements in aviation, military, and marine applications.
- Commercial operations have been temporarily halted due to the pandemic. Due to the disturbance in the process, system components are in short supply, and demand for unmanned vehicles for commercial operations such as oil tank testing, pipeline inspection, windmill inspection, and field mapping is down. Vital industrial units worldwide were shut down during the lockdown, which had an impact on the development of inertial navigation system components and the market's growth.
North America Inertial Systems Industry Segmentation
An inertial guidance system (IGS) is an electronic system that continually monitors the location, velocity, and acceleration of a vehicle, commonly a submarine, missile, or airplane, and, thus, gives navigational data or control without the need for a base station. Gyroscopes, accelerometers, and a computer are the basic components of an inertial guidance system.
The North American Inertial Systems Market is Segmented by Application (Civil Aviation, Defense, Consumer Electronics, Automotive, Energy & Infrastructure, and Medical), Component (Accelerometer, Gyroscope, IMU, Magnetometer, Attitude Heading & Navigation System, and Other), and Geography (US and Canada). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
By Application | |
Civil Aviation | |
Defense | |
Consumer Electronics | |
Automotive | |
Energy and Infrastructure | |
Medical | |
Other Applications |
By Component | |
Accelerometer | |
Gyroscope | |
IMU | |
Magnetometer | |
Attitude Heading and Navigation System | |
Other Components |
Geography | |
United States | |
Canada |
NA Inertial Systems Market Size Summary
The North American inertial systems market is poised for significant growth, driven by advancements in technology and increasing demand across various sectors. Inertial systems, which include gyroscopes, accelerometers, and inertial measurement units, are integral to applications in aerospace, land-based, marine, and sub-sea environments. The market is characterized by a mature landscape in North America, yet it continues to expand due to the adoption of advanced technologies like Fiber Optic Gyros, Ring Laser Gyros, and micro-electro-mechanical systems (MEMS). These technologies are particularly relevant in aviation, military, and marine applications, where high accuracy and reliability are paramount. The United States, with its substantial naval fleet and shipping yards, plays a crucial role in this market, as the production of submarines, warships, and trade vessels necessitates the use of inertial sensors.
The market's growth is further fueled by the increasing integration of inertial systems in unmanned vehicles and advanced robotics, which are becoming more prevalent in both commercial and defense applications. The demand for high-performance inertial measurement units (IMUs) is rising, particularly in military operations involving unmanned aerial vehicles (UAVs). Companies are innovating to meet the evolving needs of the automotive sector, where IMUs are used in advanced driver-assistance systems (ADAS) and airbags. The market is moderately fragmented, with numerous solution providers focusing on product development and strategic partnerships to enhance their market presence. Despite challenges posed by the pandemic, such as supply chain disruptions, the market is expected to recover and continue its upward trajectory, supported by ongoing technological advancements and increasing adoption across various industries.
NA Inertial Systems Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Intensity of Competitive Rivalry
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1.3.5 Threat of Substitutes
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Civil Aviation
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2.1.2 Defense
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2.1.3 Consumer Electronics
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2.1.4 Automotive
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2.1.5 Energy and Infrastructure
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2.1.6 Medical
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2.1.7 Other Applications
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2.2 By Component
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2.2.1 Accelerometer
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2.2.2 Gyroscope
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2.2.3 IMU
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2.2.4 Magnetometer
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2.2.5 Attitude Heading and Navigation System
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2.2.6 Other Components
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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NA Inertial Systems Market Size FAQs
What is the current NA Inertial Systems Market size?
The NA Inertial Systems Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in NA Inertial Systems Market?
Honeywell Aerospace Inc., Northrop Grumman Corporation, Bosch Sensortec GmbH, Analog Devices Inc. and Thales Group are the major companies operating in the NA Inertial Systems Market.