Inertial Navigation System (INS) Market to reach US$ 14.5 Billion by 2027 | CAGR of 6.1%

SHERIDAN, WYOMING, UNITED STATES, October 19, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest research report, titled “Inertial Navigation System (INS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global inertial navigation system market size reached US$ 10.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.5 Billion by 2027, exhibiting a growth rate (CAGR) of 6.1% during 2022-2027.

An inertial navigation system is a device used to determine the item's direction, speed, position, and orientation by utilizing locally available inertial sensors and dead shaking strategies. It consists of a global navigation satellite system (GNSS) receiver, an inertial measurement unit, or other motion-sensing devices. Furthermore, the INS consists of a computational unit to analyze and track the measured data from inertial sensors. It allows us to measure the acceleration of a vehicle by applying mathematical calculations. Inertial navigation systems are used in navigation applications and aerospace, where accuracy and performance are considered essential.

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Industry Growth Drivers:

The global market is majorly driven by the growing adoption of unmanned vehicles. In line with this, increasing demand for a next-generation INS with low weight, small size, and high efficiency is positively influencing the market. Furthermore, the rising demand for miniaturized accelerometers and gyroscope sensors will emphasize developing next-generation INS with increased performance and reduced size and weight, which in turn is catalyzing the market. Moreover, increased adoption of the MEMS technology-based navigation grade system to improve accuracy is favoring the market. Besides, heavy investments in military and naval applications are creating a positive outlook for the market. Additionally, significant growth in the aerospace industry and technical developments in navigation systems are providing a boost to the market.

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Key Market Segmentation:

Breakup by Technology:

• Mechanical Gyros
• Ring Laser Gyros
• Fiber Optics Gyros
• MEMS
• Others

Breakup by Grade:

• Marine Grade
• Navigation Grade
• Tactical Grade
• Space Grade
• Commercial Grade

Breakup by Component:

• Accelerometers
• Gyroscopes
• Algorithms and Processors
• Wireless Systems

Breakup by Application:

• Aircraft
• Missiles
• Space Launch Vehicles
• Marine
• Military Armored Vehicles
• Unmanned Aerial Vehicles
• Unmanned Ground Vehicles
• Unmanned Marine Vehicles

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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