NEW YORK, Jan. 13, 2016 /PRNewswire/ -- "The growing need for navigation accuracy is driving the demand for inertial navigation system market"
According to the projections in this report, the inertial navigation system (INS) market is projected to grow from USD 4.64 billion in 2015 to USD 8.87 billion by 2020, at a CAGR of 13.81% during the forecast period of 2015 to 2020. Factors that drive the global INS market include the increasing number of aircraft, technological advancements in navigation systems, increasing demand for accuracy in navigation, and availability of smaller components at lower cost.
"Commercial platform application segment to witness the highest growth during the forecast period"
The key applications considered for the market study are naval, airborne, land, and commercial platform wherein the overall INS market is dominated by the naval platform segment. However, the commercial platform segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the demand for new aircraft in response to the burgeoning rise in air travel and congestion of airspace.
"The vibrating gyro INS poses significant opportunities for growth"
The vibrating gyro technology in INS is expected to exhibit the highest growth rate in the INS market during the forecast period from 2015 to 2020. This growth is due to its ability to deliver better results even in the extreme weather conditions. North America is currently the largest market for vibrating gyro INS.
"The Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to exhibit the highest growth rate in the INS market during the forecast period of 2015 to 2020. This growth can be attributed to increase in government spending for defense equipment and growing GDP of the region.
Break-up of profile of primary participants for the report has been given below.
- By Company Type - Tier 1 –20 %, Tier 2 – 40% and Tier 3 – 40%
- By Designation – C level – 30%, Director level – 10%, Others – 60%
- By Region – North America - 30%, Europe – 40%, APAC – 15%, Middle East – 15%
Nowadays, most of the inertial navigation systems are strap down systems. The inertial navigation system has evolved in terms of technology used. The advanced technology replaces the mechanical components with electronic components. The overall focus over the years has remained on increasing the accuracy and reducing the overall weight of the INS.
The major companies profiled in the report include Northrop Grumman Corporation (U.S.), Honeywell International Inc. (U.S.), Sagem (France), Rockwell Collins (U.S.), and Thales SA (France), among others.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the inertial navigation system market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on inertial navigation systems offered by the top market players
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for inertial navigation systems across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global inertial navigation system market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global inertial navigation system market
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