European Industry for Fiber Optic Gyroscopes to 2027 - Growth in Aviation Industry Along With Surging Defense Expenditure is Driving the Market

DUBLIN, Jan. 13, 2021 /PRNewswire/ -- The "Europe Fiber Optic Gyroscope Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Sensing Axis, Device, and Application" report has been added to ResearchAndMarkets.com's offering.

According to this market research study the European fiber optic gyroscope market is expected to reach US$ 356.89 million by 2027 from US$ 255.64 million in 2019. The market is estimated to grow at a CAGR of 4.4% from 2020 to 2027. The report provides trends prevailing in the Europe fiber optic gyroscope market along with the drivers and restraints pertaining to the market growth. Increasing requirement of fiber optic gyroscopes among various industrial applications is the major factor driving the growth of the Europe fiber optic gyroscope market. However, issues associated with availability of substitute solutions hinders the growth of Europe fiber optic gyroscope market.

The Europe market for fiber optic gyroscope is segmented into sensing axis, device, application, and country. Based on sensing axis, the Europe fiber optic gyroscope market is divided into 1-axis, 2-axis, and 3-axis. In terms of revenue, the 3-axis segment is projected to be the largest segment over the forecast period from 2020 to 2027. On the basis of device, the market is segmented into gyrocompass, inertial measurement unit, inertial navigation system, and attitude heading reference system. The inertial navigation system segment contributed a substantial share in 2019, and it is also anticipated to be the fastest growing device type in the Europe fiber optic gyroscope market. Based on application, the Europe fiber optic gyroscope market is segmented into remotely operated vehicle guidance, aeronautics & aviation, robotics, industrial, defense and homeland security, and tactical grade applications. The defense and homeland security segment held the largest share in 2019 whereas remotely operated vehicle guidance segment is anticipated to be fastest growing segment.

Also the ongoing COVID-19 outbreak has severely affected Europe. Presently, Russia, Spain, France, the UK, Italy, and Germany are some of the worst affected member states in Europe due to COVID-19 outbreak. The region is a major manufacturing and industrial hub for sectors such as automotive, aviation, construction, energy, and power. However, due to COVID-19 outbreak, a large number of businesses in the region are facing financial challenges as they either had to suspend their operations or reduce their activities in a substantial manner, owing to government imposed restrictions and lack of manpower. Hence, due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to see an economic slump in 2020 and it is most likely to continue in 2021 as well.

Various member states in Europe, such as Italy, Spain, France, the UK, and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus. European countries represent a major market for fiber optic gyroscopes and hence, provides growth owing to the presence of a strong civil and military aviation sector, and strict safety regulations in various industries. The lockdown has affected new industrial projects and investments in various European countries, thus impacting the demand for fiber optic gyroscope systems in this region. In addition to this, the disruptions in raw materials and electronic component supply from China and other countries are further anticipated to aggravate the supply problems faced by fiber optic gyroscope manufacturers operating in Europe.

Emcore Corporation; Fizoptika; Honeywell International Inc; ixblue ; KVH Industries, Inc.; NEDAERO; Optolink RPC LLC; Safran Colibrys SA are among the leading companies in the Europe fiber optic gyroscope market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, NEDAERO Introduced FOG80N series offering design which has led to FOG70 and FOG80N, whereby FOG80N has a stability @ room temperature of 0.2 /hr.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe fiber optic gyroscope market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Europe fiber optic gyroscope market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the fiber optic gyroscope market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Topics Covered:

1. Introduction
1.1 Scope of The Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Fiber Optic Gyroscope Market - by Sensing Axis
1.3.2 Europe Fiber Optic Gyroscope Market - by Device
1.3.3 Europe Fiber Optic Gyroscope Market - by Application
1.3.4 Europe Fiber Optic Gyroscope Market - by Country

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Fiber Optic Gyroscope Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Europe Fiber Optic Gyroscope -Market Dynamics
5.1 Market Drivers
5.1.1 Europe Witnessing Growth in Aviation Industry Along With Surging Defense Expenditure
5.1.2 Increasing Requirement of Fiber Optic Gyroscopes Among Various Industrial Applications
5.2 Market Restraints
5.2.1 Substitute Solutions Available
5.3 Market Opportunities
5.3.1 Opportunities Rising in Developing Countries Due to High Demand
5.4 Future Trends
5.4.1 Adoption Among Remotely Operated Vehicles Rising
5.5 Impact Analysis of Drivers and Restraints

6. Fiber Optic Gyroscope Market - Europe Analysis
6.1 Europe Fiber Optic Gyroscope Market Overview
6.2 Europe Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Five Key Players

7. Europe Fiber Optic Gyroscope Market Analysis - by Sensing Axis
7.1 Overview
7.2 Europe Fiber Optic Gyroscope Market, by Sensing Axis (2019 and 2027)
7.3 1-Axis
7.3.1 Overview
7.3.2 1-Axis: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
7.4 2-Axis
7.4.1 Overview
7.4.2 2-Axis: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
7.5 3-Axis
7.5.1 Overview
7.5.2 3-Axis: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)

8. Europe Fiber Optic Gyroscope Market Analysis - by Device
8.1 Overview
8.2 Europe Fiber Optic Gyroscope Market, by Device (2019 and 2027)
8.3 Gyrocompass
8.3.1 Overview
8.3.2 Gyrocompass: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
8.4 Inertial Measurement Unit
8.4.1 Overview
8.4.2 Inertial Measurement Unit: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Inertial Navigation System
8.5.1 Overview
8.5.2 Inertial Navigation System: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
8.6 Attitude Heading Reference System
8.6.1 Overview
8.6.2 Attitude Heading Reference System: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)

9. Europe Fiber Optic Gyroscope Market Analysis -By Application
9.1 Overview
9.2 Europe Fiber Optic Gyroscope Market, by Application (2019 and 2027)
9.3 Remotely Operated Vehicle Guidance
9.3.1 Overview
9.3.2 Remotely Operated Vehicle Guidance: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
9.4 Aeronautics and Aviation
9.4.1 Overview
9.4.2 Aeronautics and Aviation: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
9.5 Robotics
9.5.1 Overview
9.5.2 Robotics: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
9.6 Industrial
9.6.1 Overview
9.6.2 Industrial: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
9.7 Defense and Homeland Security
9.7.1 Overview
9.7.2 Defense and Homeland Security: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
9.8 Tactical Grade Applications
9.8.1 Overview
9.8.2 Tactical Grade Applications: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)

10. Europe Fiber Optic Gyroscope Market - Country Analysis
10.1 Overview
10.1.1 Europe: Fiber Optic Gyroscope Market, by Key Country
10.1.1.1 Germany: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.1.2 Germany: Fiber Optic Gyroscope Market, by Device
10.1.1.1.3 Germany: Fiber Optic Gyroscope Market, by Application
10.1.1.2 France: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.2.2 France: Fiber Optic Gyroscope Market, by Device
10.1.1.2.3 France: Fiber Optic Gyroscope Market, by Application
10.1.1.3 Italy: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.3.2 Italy: Fiber Optic Gyroscope Market, by Device
10.1.1.3.3 Italy: Fiber Optic Gyroscope Market, by Application
10.1.1.4 UK: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.4.2 UK: Fiber Optic Gyroscope Market, by Device
10.1.1.4.3 UK: Fiber Optic Gyroscope Market, by Application
10.1.1.5 Russia: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.5.2 Russia: Fiber Optic Gyroscope Market, by Device
10.1.1.5.3 Russia: Fiber Optic Gyroscope Market, by Application
10.1.1.6 Rest of Europe: Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.6.2 Rest of Europe: Fiber Optic Gyroscope Market, by Device
10.1.1.6.3 Rest of Europe: Fiber Optic Gyroscope Market, by Application

11. Europe Fiber Optic Gyroscope Market- COVID-19 Impact Analysis
11.1 Europe

12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development

13. Company Profile
13.1 iXblue
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 EMCORE Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 FIZOPTIKA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Honeywell International Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 KVH Industries, Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 NEDAERO
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Optolink
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Safran S. A
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments

14. Appendix
14.1 About the Publisher
14.2 Glossary of Terms

For more information about this report visit https://www.researchandmarkets.com/r/30wxln

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