PUNE, India, October 20, 2017 /PRNewswire/ --
The report "Inertial Measurement Unit Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (RLG, FOG, MEMS), Application (Consumer Electronics, Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from an estimated USD 16.46 Billion in 2017 to USD 21.74 Billion by 2022, at a CAGR of 5.72% during the forecast period. Increasing demand for accuracy in navigation, high volume production of smartphones, and availability of miniaturized components at affordable prices are some of the key factors driving the inertial measurement unit market.
Browse 127 Market Data Tables and 34 Figures spread through 169 Pages and in-depth TOC on "Inertial Measurement Unit Market - Global Forecast to 2022"
Early buyers will receive 10% customization on this report
Based on application, the space launch vehicle segment is estimated to be the fastest-growing application segment during the forecast period.
The space launch vehicle segment is estimated to be the fastest-growing application segment in the inertial measurement unit market during the forecast period. This growth is attributed to an increase in satellite launches and increasing space research and exploration activities.
Based on grade, the commercial grade segment holds the largest share.
Commercial grade inertial measurement units include consumer grade inertial measurement units and enterprise grade inertial measurement units. Consumer grade inertial measurement units are used for low-end applications such as phones, tablets, automobile airbag systems, etc. while enterprise grade inertial measurement units are used in small UAVs. The growth of the commercial grade segment can be attributed to the widespread use of compact MEMS inertial measurement units in consumer electronic products as well as automotive and industrial applications.
Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=148851976
Based on technology, the MEMS segment holds the largest share in the inertial measurement unit market.
Based on technology, the MEMS segment held the largest market share in 2016. The large share can be attributed to technological advancements in MEMS that are resulting in its increased applicability in small aircraft and unmanned applications.
Asia Pacific is expected to be the largest market for inertial measurement units during the forecast period.
Asia Pacific is estimated to be the fastest-growing market during the forecast period. The growth is largely due to an increase in defense budgets of emerging countries such as India and China; the backing provided by these countries to develop homegrown technologies for the manufacture of missiles, fighter aircraft, and UAVs; and rise in the number of commercial aircraft manufacturers in the region.
Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=148851976
Major players operating in the inertial measurement unit market include Honeywell (US), Northrop Grumman (US), Safran Electronics & Defense (France), Bosch (Germany), and STMicroelectronics (Switzerland). These key players offer inertial measurement units based on various technologies such as MEMS, Ring Laser Gyro (RLG), and Fiber Optics Gyro (FOG). These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.
Browse Related Reports
Inertial Navigation System Market by Grade (Marine, Navigation, Tactical, Space, Commercial), Technology (Mechanical, Ring Laser, Fiber Optic, Mems), Application (Aircraft, Missile, Marine, UAV, UGV, UMV), Component, and Region - Global Forecast to 2022
Attitude and Heading Reference Systems (AHRS) Market by Type (AHRS, ADAHRS, GPS AHRS), Component (Inertial Sensors, Magnetic Sensors, & Processor), End-use (Civil Aviation, Military Aviation, Unmanned Vehicles, & Marine) & Region - Global Forecast to 2022
Subscribe Reports from Aerospace & Defence Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog@ http://mnmblog.org/market-research/aerospace-defence
Connect us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets