Inertial Systems Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: SE24061201 | Research Suite: Report (PDF) & Market Data (Excel)
Inertial systems refer to a
category of sensor-based systems designed to measure and report an object's
acceleration, velocity, and changes in position, providing critical information
for navigation, guidance, and control applications. These systems typically
incorporate accelerometers and gyroscopes to detect and measure motion,
enabling precise tracking of an object's movement in three-dimensional space.
The anticipated acceleration in demand for automotive temperature sensors
aligns with the broader trend of regulatory measures driving advancements in
vehicle safety and environmental performance. The growing demand for precise
navigation and positioning in various applications propels the inertial systems
market.
Inertial systems market report
by xResearch provides market analysis of this industry including market
drivers, key players, industry structure and dynamics, business strategies for
success, and threats or opportunities.
Inertial Systems Market
The Inertial systems market is
anticipated to reach USD X,XXX.X million by 2030 from USD X,XXX.X million in
2022, at a CAGR of 9.0% during the forecast period.
The market experiences
significant growth driven by increased demand in aerospace and defense for
navigation and guidance systems. Expanding global defense budgets and
advancements in navigation technologies contribute to the rising demand for
high-precision inertial systems. Additionally, the surge in autonomous
vehicles, including drones and self-driving cars, propels the adoption of
inertial systems for precise navigation and control, emphasizing the importance
of accurate real-time data in this expanding market.
The consumer electronics sector
significantly influences the inertial systems market, with accelerometers and
gyroscopes widely utilized in smartphones, tablets, and wearables to meet the
demand for advanced motion sensing capabilities. Additionally, technological
advancements and miniaturization enable the integration of inertial systems
into compact devices, expanding their applications into emerging fields such as
IoT devices, healthcare, and industrial automation. The diverse range of
applications and continuous technological innovation serves as key drivers
fueling the growth of the inertial systems market.
Inertial Systems Market Growth Drivers
The inertial systems market
experiences substantial growth driven by the flourishing autonomous vehicles
and robotics sector. Inertial Measurement Units (IMUs) play a crucial role in
the navigation and control of self-driving cars and advanced robots, ensuring
precise positioning and stability. The growing demand for high-performance
inertial systems aligns with the increasing development and deployment of
autonomous vehicles and robots across diverse industries, further propelling
market expansion. The uses of robotics are consolidated in many professional
sectors with an unprecedented increase in Europe of 24% in the last year.
Specifically, statistics point to a growth in global demand for autonomous
mobile robotics of 40% per year, according to IFR (International Federation of
Robotics). The automotive industry has the largest number of robots working in
factories around the world: Operational stock hit a new record of about one
million units.
The inertial systems market is
driven by its critical navigational role in aircraft, missiles, and spacecraft,
ensuring precise positioning and reliable performance in environments where GPS
signals may be compromised. The demand for high-performance inertial systems is
propelled by the aerospace and defense sector's harsh operating conditions and
mission-critical applications, justifying a significant market share. The
rising demand in the aerospace and defense sectors further solidifies inertial
systems' importance, particularly in navigation, guidance systems, and unmanned
aerial vehicles. The aerospace and defense industry reported revenues of $741
billion in 2022 (up just 3% from 2021) and $67 billion in operating profit (up
8%), according to PwC analysis.
The inertial systems market
experiences growing adoption across diverse industries, expanding beyond
traditional aerospace and defense applications. Consumer electronics
integration, particularly in smartphones, wearables, and gaming devices,
contributes significantly to market expansion by enhancing motion sensing
capabilities. Moreover, the integration of inertial systems in industrial
automation and IoT devices, providing accurate motion and vibration data,
further broadens their applications, fostering substantial market growth.
Inertial systems are used in a variety of consumer electronics, including
smartphones, gaming consoles, and wearable devices.
Inertial Systems Market Segmentation:
Based on the type, the market
is categorized into accelerometers, gyroscopes, inertial measurement units
(IMUS), magnetometers, attitude heading and reference systems (AHRS), and
others. In terms of value, the accelerometer segments dominated the market in
2022. Accelerometers, widely used in consumer electronics, industrial
automation, and automotive applications, offer versatility by measuring various
types of motion, such as linear acceleration, tilt, and shock. Their relatively
lower cost, compact size, and complementary role in inertial measurement units
(IMUS) make them essential components in navigation systems, contributing to
their high market share.
Based on the application, it is
classified into aerospace and defense, automotive, consumer electronics,
industrial, land and transportation, energy and infrastructure, medical, and
others. The aerospace and defense segment held a leading X% market share in
2022. Due to the critical role of inertial systems in precise navigation and
guidance for aircraft, missiles, and spacecraft, The sector demands
high-performance systems capable of withstanding harsh operating environments
and adhering to strict safety standards. Government funding for military
modernization and stringent regulations further drive the demand for reliable
and high-precision inertial systems in this sector.
Inertial Systems Market Regional Synopsis
North America holds the largest
market for Inertial systems. The market is expected to grow from USD X,XXX.X
million in 2022 to USD X,XXX.X million in 2030. Asia Pacific is expected to
witness the highest CAGR during the forecast period. The leading markets in
Asia Pacific include China, India, and South Korea. Rapidly growing economies,
fueling investments in infrastructure development and industrial automation,
contribute to market expansion.
Europe accounted for a market
share of XX.X% of the global Inertial systems market in 2022.This market is
projected to reach USD X,XXX.X million by 2030 from USD X,XXX.X million in
2022, at a CAGR of X.X% during the forecast period. Germany, France, and the
United Kingdom are the major countries in the European Inertial systems market.
Europe is an attractive region for the global inertial systems market. Europe's
aerospace and defense industries demand exceptional performance and reliability
from inertial systems. This focus translates into a strong market for high-end
gyroscopes and accelerometers.
Additionally, European
manufacturers are at the forefront of integrating inertial systems with other
technologies, like LiDAR and cameras. This fusion creates powerful solutions
for autonomous vehicles, robotics, and advanced driver-assistance systems. The
European inertial systems market is highly competitive.
The Latin America region is
experiencing growth in inertial systems. The demand is influenced by increased
demand in aerospace and defense, expanding industrial automation, rising
interest in autonomous vehicles, and integration into consumer electronics.
Inertial Systems Market Key Global Players
Numerous players are vying for market share and
investing in new technologies and product development to stay ahead of the
curve in the market. Several key global players in the Inertial Systems market
include:
·
Analog Devices, Inc.
·
Bosch Sensortec GmbH
·
Safran Group
·
Honeywell International, Inc.
·
TDK Corporation (InvenSense)
·
IXBLUE
·
Carbon Fiber Remanufacturing
·
Gen 2 Carbon Limited
·
Karborek RCF
·
Mitsubishi Chemical Holdings Corporation.
·
Procotex
·
Shocker Composites LLC
·
Sigmatex
·
Vartega Inc.
· Other Players