Navigational Inertial Systems Market 2018 estimated to Flourish by 2023
The Navigational Inertial Systems Market is expected to register a CAGR of 9.81%, during the forecast period (2018-2023).
Request PDF Sample @ http://orbisresearch.com/contacts/request-sample/2131971
The scope of the market covers various holistic solutions offered by the leading vendors of the market. The scope is limited to the end-user applications such as defence and aerospace, commercial, land/naval, and industrial.
The growth of this market is largely fuelled by technological advancements, and the growing demand in emerging countries of the Asia-Pacific region. Further, the growth can be attributed to the increasing demand for accuracy in navigation aids and emergence of MEMS systems.
Growing Number of Connected Cars Is Expected to Drive the Adoption of Navigational Inertial Systems
The automotive industry is undergoing a wave of innovation and—with the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever before—is witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services the demand for connected cars has been soaring, and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2020.
Alongside the burgeoning connectivity, there is a growing demand for accuracy in navigation for these autonomous cars. Since high level of accuracy and reliability are the prime features of a navigational system, these navigational systems have a distinctive advantage over other forms of navigation systems, in terms of their lack of dependence on external aids to determine the rotation and acceleration of a moving object. The systems are inherently suited for use in integrated navigation, control, and guidance of vehicles in challenging environs. Unlike GPS and other kinds of navigation systems, inertial systems can retain their performance even under difficult conditions. Thus, the increasing number of connected cars has buoyed the adoption of inertial navigational systems.
The major Players include –
ANALOG DEVICES INC., NORTHROP GRUMMAN CORPORATION, SAFRAN GROUP (COLIBRYS SWITZERLAND) LTD., ROCKWELL COLLINS, INC., HONEYWELL INTERNATIONAL INC., INVENSENSE INC., IXBLUESAS, KEARFOTT CORPORATION, KVH INDUSTRIES, INC., THALES GROUP, XSENS TECHNOLOGIES B.V., SPARTON CORPORATION, EPSON EUROPE ELECTRONIC AND VECTOR NAV., amongst others.
Make an Enquiry @ http://orbisresearch.com/contacts/enquiry-before-buying/2131971
North America to Hold the Largest Market Share
North America held the highest share of the market in 2017. The primary demand for navigational inertial Systems is observed in the maritime sector and the aircraft industry, for both commercial and defence purposes. In 2016, the United States defence spending was more than USD 611 billion, which represented 36% of the total world military expenditure (USD 1686 billion). In the last three years, however, as a result of global political situation and conflicts in Afghanistan and Iraq, the United States Department of Defence cut down their defence budget. Nonetheless, the decrease in military spending is expected to be offset by the steady growth in aerospace and land-based applications in the United States.
The increase in the production of helicopters and commercial aircrafts is driving the market for navigational inertial systems. This huge aerospace industry of the United States exports more than 60% of the total aerospace production. Various foreign firms are attracted to the United States aerospace market, as it is the largest in the world, employing a skilled and hospitable workforce, with diverse offerings and extensive distribution systems. According to the United States Department of Commerce, the United States aerospace industry has contributed to about USD 147 billion to the United States economy in the form of export sales.
It is estimated that for the next 20 years, the number of large commercial planes will grow at a rate of 3.5% per year, to reach a total of 34,000 units valued at USD 4.5 trillion. Further, the increasing penetration of automated guided vehicles coupled with the growing number of connected cars in the region is expected to bolster the demand for navigational inertial systems during the forecast period.
Aerospace and Defence to Hold a Lion’s Share of the Navigational Inertial Systems Market
Inertial navigation is used in a wide range of applications, including the navigation of aircraft, tactical and strategic missiles, spacecraft, submarines, and ships. As INS systems in aircrafts are mandate for efficient navigation, the growth is directly affected by the growth of the aircrafts globally. However, factors, such as increasing demand for accuracy in navigation and high availability of small and robust components are expected to have a significant impact on the global market, resulting in its exponential growth in the future. The increased use of satellite navigation for commercial application the growth of the global market. Some of the factors that might hinder the growth of the market are system initialization and error propagation. North America and Europe are expected to have the largest market share for inertial navigational systems, in terms of commercial aviation and defence aviation. However, increase in number of programs launched in Asia-Pacific and Middle East for INS development is expected to drive the market in the respective regions. The growth in Asia - Pacific is further supported by the increase in defence budget in countries, like China, India, and South Korea. Several countries are investing heavily in order to strengthen their naval defense. The increasing demand for unmanned aerial vehicle (UAV) also offers tremendous growth opportunities for the inertial navigational systems market and thus, aids the market growth during the forecast period.
Key Developments in Navigational Inertial Systems Market :
November 2017 - UTC Aerospace Systems announced a definitive agreement to acquire Rockwell Collins for USD140.00 per share. This acquisition is aimed at catering the demand of a rapidly evolving aerospace industry for the production of intelligent and connected aircrafts
September 2017 - Northrop Grumman announced to acquire Orbital ATK for approximately USD 7.8 billion. This acquisition is aimed at strategically combining Northop and Orbital’s to enhance and complement the company’s capabilities in the aerospace and defence sector
Reasons to Purchase Navigational Inertial Systems Market Report :
Current and future Navigational Inertial Systems Market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segments that are expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Navigational Inertial Systems Market Report:
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Browse Full Report @ http://orbisresearch.com/reports/index/global-navigational-inertial-systems-market-segmented-by-type-end-user-technology-and-geography-growth-trends-and-forecast-2018-2023
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +9164101019
Email: sales@orbisresearch.com
Request PDF Sample @ http://orbisresearch.com/contacts/request-sample/2131971
The scope of the market covers various holistic solutions offered by the leading vendors of the market. The scope is limited to the end-user applications such as defence and aerospace, commercial, land/naval, and industrial.
The growth of this market is largely fuelled by technological advancements, and the growing demand in emerging countries of the Asia-Pacific region. Further, the growth can be attributed to the increasing demand for accuracy in navigation aids and emergence of MEMS systems.
Growing Number of Connected Cars Is Expected to Drive the Adoption of Navigational Inertial Systems
The automotive industry is undergoing a wave of innovation and—with the advent of groundbreaking technologies, such as the Internet of Things (IoT), making vehicles safer than ever before—is witnessing a paradigm shift from the traditional models. With enhanced GPS, location and maintenance live recording, reminders, driving assistance, and Wi-Fi services the demand for connected cars has been soaring, and it is estimated that connected cars will account for 75% of the 92 million cars shipped globally in 2020.
Alongside the burgeoning connectivity, there is a growing demand for accuracy in navigation for these autonomous cars. Since high level of accuracy and reliability are the prime features of a navigational system, these navigational systems have a distinctive advantage over other forms of navigation systems, in terms of their lack of dependence on external aids to determine the rotation and acceleration of a moving object. The systems are inherently suited for use in integrated navigation, control, and guidance of vehicles in challenging environs. Unlike GPS and other kinds of navigation systems, inertial systems can retain their performance even under difficult conditions. Thus, the increasing number of connected cars has buoyed the adoption of inertial navigational systems.
The major Players include –
ANALOG DEVICES INC., NORTHROP GRUMMAN CORPORATION, SAFRAN GROUP (COLIBRYS SWITZERLAND) LTD., ROCKWELL COLLINS, INC., HONEYWELL INTERNATIONAL INC., INVENSENSE INC., IXBLUESAS, KEARFOTT CORPORATION, KVH INDUSTRIES, INC., THALES GROUP, XSENS TECHNOLOGIES B.V., SPARTON CORPORATION, EPSON EUROPE ELECTRONIC AND VECTOR NAV., amongst others.
Make an Enquiry @ http://orbisresearch.com/contacts/enquiry-before-buying/2131971
North America to Hold the Largest Market Share
North America held the highest share of the market in 2017. The primary demand for navigational inertial Systems is observed in the maritime sector and the aircraft industry, for both commercial and defence purposes. In 2016, the United States defence spending was more than USD 611 billion, which represented 36% of the total world military expenditure (USD 1686 billion). In the last three years, however, as a result of global political situation and conflicts in Afghanistan and Iraq, the United States Department of Defence cut down their defence budget. Nonetheless, the decrease in military spending is expected to be offset by the steady growth in aerospace and land-based applications in the United States.
The increase in the production of helicopters and commercial aircrafts is driving the market for navigational inertial systems. This huge aerospace industry of the United States exports more than 60% of the total aerospace production. Various foreign firms are attracted to the United States aerospace market, as it is the largest in the world, employing a skilled and hospitable workforce, with diverse offerings and extensive distribution systems. According to the United States Department of Commerce, the United States aerospace industry has contributed to about USD 147 billion to the United States economy in the form of export sales.
It is estimated that for the next 20 years, the number of large commercial planes will grow at a rate of 3.5% per year, to reach a total of 34,000 units valued at USD 4.5 trillion. Further, the increasing penetration of automated guided vehicles coupled with the growing number of connected cars in the region is expected to bolster the demand for navigational inertial systems during the forecast period.
Aerospace and Defence to Hold a Lion’s Share of the Navigational Inertial Systems Market
Inertial navigation is used in a wide range of applications, including the navigation of aircraft, tactical and strategic missiles, spacecraft, submarines, and ships. As INS systems in aircrafts are mandate for efficient navigation, the growth is directly affected by the growth of the aircrafts globally. However, factors, such as increasing demand for accuracy in navigation and high availability of small and robust components are expected to have a significant impact on the global market, resulting in its exponential growth in the future. The increased use of satellite navigation for commercial application the growth of the global market. Some of the factors that might hinder the growth of the market are system initialization and error propagation. North America and Europe are expected to have the largest market share for inertial navigational systems, in terms of commercial aviation and defence aviation. However, increase in number of programs launched in Asia-Pacific and Middle East for INS development is expected to drive the market in the respective regions. The growth in Asia - Pacific is further supported by the increase in defence budget in countries, like China, India, and South Korea. Several countries are investing heavily in order to strengthen their naval defense. The increasing demand for unmanned aerial vehicle (UAV) also offers tremendous growth opportunities for the inertial navigational systems market and thus, aids the market growth during the forecast period.
Key Developments in Navigational Inertial Systems Market :
November 2017 - UTC Aerospace Systems announced a definitive agreement to acquire Rockwell Collins for USD140.00 per share. This acquisition is aimed at catering the demand of a rapidly evolving aerospace industry for the production of intelligent and connected aircrafts
September 2017 - Northrop Grumman announced to acquire Orbital ATK for approximately USD 7.8 billion. This acquisition is aimed at strategically combining Northop and Orbital’s to enhance and complement the company’s capabilities in the aerospace and defence sector
Reasons to Purchase Navigational Inertial Systems Market Report :
Current and future Navigational Inertial Systems Market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segments that are expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Navigational Inertial Systems Market Report:
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Browse Full Report @ http://orbisresearch.com/reports/index/global-navigational-inertial-systems-market-segmented-by-type-end-user-technology-and-geography-growth-trends-and-forecast-2018-2023
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +9164101019
Email: sales@orbisresearch.com