Global Gyroscopes Market

Global Gyroscopes Market Size, Share, Growth Analysis, By Technology(Dynamically tuned gyroscopes, ring laser gyroscopes), By Application(Aerospace & defense, automotive) - Industry Forecast 2023-2030


Report ID: SQMIG45J2126 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 67 | Figures: 75

Global Gyroscopes Market Insights

Gyroscopes Market size was valued at USD 1.92 billion in 2021 and is poised to grow from USD 2.06 billion in 2022 to USD 3.51 billion by 2030, at a CAGR of 6.9% during the forecast period (2023-2030).

The global gyroscopes market is expected to grow significantly in the coming years, driven by advancements in sensor technologies and the increasing demand for precision navigation and positioning systems. One of the key drivers of the gyroscopes market is the growing demand for navigation and positioning systems that require high levels of accuracy and precision. For example, gyroscopes are used in aircraft navigation systems to help pilots maintain their orientation and to provide real-time feedback on changes in position and velocity. In addition, gyroscopes are used in autonomous vehicles to help them navigate and avoid obstacles, and they are also used in consumer electronics, such as smartphones and gaming devices, to provide motion-sensing capabilities. Another driver of the gyroscopes market is the increasing demand for unmanned aerial vehicles (UAVs) and other unmanned systems that require high levels of stability and precision.

Gyroscopes play a critical role in stabilizing these systems and ensuring that they can navigate and operate effectively in a variety of environments. Despite these drivers, the gyroscope market is also facing a number of challenges and constraints. For example, the high cost of gyroscopes and the complex nature of the technologies involved can limit their adoption in some applications. In addition, there are concerns about the reliability and durability of gyroscopes, particularly in harsh environments such as space. To overcome these challenges, the market is undergoing a number of key trends, such as the development of new materials and manufacturing techniques that can reduce costs and improve performance. There is also a growing focus on developing gyroscopes that are more durable and reliable, particularly in harsh environments.

US Gyroscopes Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 1.92 billion

Largest Segment

Fiber Optic Gyroscopes

Fastest Growth

Fiber Optic Gyroscopes

Growth Rate

6.9% CAGR

Global Gyroscopes Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Gyroscopes Market Size By Technology 2022-2030 ($ Bn)
Global Gyroscopes Market Size By Technology 2022-2030 (%)

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Global Gyroscopes Market Segmental Analysis

Global Gyroscopes Market is segmented on the basis of technology, application, and region. By technology, the market is segmented into dynamically tuned gyroscopes, ring laser gyroscopes, fiber optic gyroscopes, hemispherical resonator gyroscopes, and others. By application, the market is segmented into aerospace & defense, automotive, consumer electronics, industrial, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Gyroscopes Market Analysis by Technology

Fiber optic gyroscopes (FOGs) have emerged as the largest segment in the global gyroscopes market, capturing a significant share due to their exceptional accuracy and reliability. FOGs utilize the principle of the Sagnac effect, where a light beam is split into two paths traveling in opposite directions along a coiled optical fiber. As the fiber experiences rotation, a phase shift occurs, allowing for precise measurement of angular velocity. FOGs offer numerous advantages such as compact size, lightweight design, and resistance to external vibrations, making them ideal for various applications.

In terms of growth potential, ring laser gyroscopes (RLGs) exhibit the highest growth rate in the gyroscopes market. RLGs operate based on the interference of laser beams traveling in a closed loop, generating a frequency difference that is proportional to the angular velocity. These gyroscopes offer excellent accuracy and high sensitivity, making them suitable for demanding applications such as aerospace and defense. The increasing demand for navigation systems, unmanned aerial vehicles (UAVs), and autonomous vehicles is driving the adoption of RLGs, contributing to their rapid growth in the market.

Gyroscopes Market Analysis by Application

The global gyroscopes market, the largest segment is the consumer electronics sector. With the ever-increasing demand for smartphones, tablets, gaming consoles, and wearable devices, the consumer electronics industry has become a major driver for gyroscopes. These tiny yet powerful sensors play a crucial role in enabling motion sensing, image stabilization, and augmented reality features in consumer electronic devices, enhancing user experiences and functionality. The consumer electronics segment holds a significant market share, accounting for approximately 40% of the overall gyroscopes market.

The fastest-growing segment in the gyroscopes market is the automotive industry. As vehicles become more advanced and autonomous, the need for precise navigation, stability control, and safety features is escalating. Gyroscopes provide essential input for vehicle stability control systems, electronic stability programs, and advanced driver-assistance systems (ADAS). Moreover, the increasing adoption of electric vehicles and self-driving cars further amplifies the demand for gyroscopes in the automotive sector. The automotive segment is projected to grow at a staggering rate of 15% annually, driven by the integration of gyroscopes in various vehicle systems and the rising focus on safety and automation.

Global Gyroscopes Market Size By Technology 2022(%), 2021 (%)

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Global Gyroscopes Market Regional Insights

In terms of dominating regions, North America and Europe are leading the global gyroscopes market due to the presence of well-established aerospace and defense industries in these regions. These industries rely heavily on gyroscopes for various applications, including navigation, guidance, and stabilization. Additionally, the presence of major players such as Honeywell International Inc. and Northrop Grumman Corporation in these regions is contributing to their dominance in the market.

On the other hand, the Asia Pacific region is emerging as the fastest-growing region in the gyroscopes market. This is due to the increasing adoption of gyroscopes in consumer electronics and automotive industries in the region. With a growing population and rising disposable incomes, demand for high-end consumer electronics such as smartphones, laptops, and gaming devices is increasing in Asia Pacific. This, in turn, is driving the demand for gyroscopes in the region. Furthermore, the automotive industry in the Asia Pacific is also experiencing rapid growth, particularly in countries like China and India. This growth is due to the increasing demand for automobiles and the rising adoption of electric vehicles. Gyroscopes are used in various automotive applications such as stability control and navigation, and their adoption is expected to increase with the growth of the automotive industry in the region.

Global Gyroscopes Market Size By Geography, 2022-2030, 2023-2030
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Global Gyroscopes Market Dynamics

Gyroscopes Market Drivers

Increasing demand for unmanned vehicles

  • The growing adoption of unmanned vehicles in various industries such as defense, agriculture, and logistics is driving the demand for gyroscopes. Gyroscopes are an essential component of unmanned vehicles as they enable them to maintain their orientation and stability during flight. For instance, the use of gyroscopes in drones allows them to fly autonomously and perform tasks such as surveillance, mapping, and delivery.

Advancements in sensor technology

  • The development of advanced sensor technologies such as micro-electromechanical systems (MEMS) and fiber optic gyroscopes (FOGs) is driving the growth of the gyroscopes market. These technologies provide high accuracy and precision, which makes them ideal for applications that require high levels of precision and stability. For example, FOGs are used in navigation systems of airplanes and ships, while MEMS gyroscopes are used in consumer electronics such as smartphones, gaming consoles, and virtual reality devices.

Gyroscopes Market Restraints

High cost of gyroscopes

  • The high cost of gyroscopes is a major restraint for the market. Gyroscopes are precision instruments that require sophisticated manufacturing processes, which increases their cost. This makes them expensive for many potential customers, especially in developing countries where cost is a critical factor in purchasing decisions.

Limited accuracy in certain applications

  • Gyroscopes have limitations in accuracy when used in certain applications. For example, the accuracy of MEMS gyroscopes can be affected by factors such as temperature changes, vibrations, and electromagnetic interference, which can affect their performance in some applications.

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Global Gyroscopes Market Competitive Landscape

The Global Gyroscopes Market is highly fragmented, with the presence of several key players competing for market share. These players include major companies that are actively involved in product development, innovation, and strategic collaborations to gain a competitive edge in the market. To maintain their market position, key players focus on introducing technologically advanced gyroscopes that offer high accuracy, reliability, and performance. They invest significantly in research and development activities to improve the efficiency and functionality of gyroscopes, catering to the evolving demands of end-users. Moreover, strategic partnerships, mergers, and acquisitions are common strategies adopted by these players to expand their product portfolios, enhance their geographical presence, and tap into new market opportunities.

Gyroscopes Market Top Player’s Company Profiles

  • Northrop Grumman Corporation (US)
  • Thales Group (France)
  • Safran Electronics & Defense (France)
  • L3Harris Technologies, Inc. (US)
  • General Dynamics Corporation (US)
  • Leonardo S.p.A. (Italy)
  • Collins Aerospace (US)
  • KVH Industries, Inc. (US)
  • Moog Inc. (US)
  • Analog Devices, Inc. (US)
  • Bosch Sensortec (Germany)
  • Silicon Sensing Systems Ltd. (UK)
  • Epson Toyocom Corporation (Japan)
  • Sensonor AS (Norway)
  • NXP Semiconductors N.V. (Netherlands)
  • MEMSIC, Inc. (US)
  • Colibrys Ltd. (Switzerland)
  • Sensata Technologies Holding plc (Netherlands)

Gyroscopes Market Recent Developments

  • In February 2021, STMicroelectronics announced the release of a new high-precision gyroscope designed for use in augmented reality and virtual reality applications.
  • In March 2021, Analog Devices announced the release of a new inertial measurement unit (IMU) that incorporates a high-performance gyroscope for use in industrial automation and other applications.
  • In April 2021, TDK Corporation announced the release of a new high-precision gyroscope designed for use in industrial and automotive applications.
  • In May 2021, Bosch Sensortec announced the release of a new high-precision MEMS gyroscope that is designed to provide accurate motion sensing in a variety of applications, including smartphones, wearables, and gaming devices.
  • In July 2021, InvenSense announced the release of a new 6-axis motion sensor that incorporates a gyroscope and accelerometer for use in a variety of consumer electronics applications.

Global Gyroscopes Key Market Trends

  • Growing adoption of MEMS gyroscopes in consumer electronics: MEMS gyroscopes are increasingly being used in consumer electronics such as smartphones, tablets, and gaming consoles. This is due to their small size, low power consumption, and low cost compared to other types of gyroscopes. MEMS gyroscopes enable features such as motion sensing, image stabilization, and gaming control, which are becoming more prevalent in modern electronic devices.
  • Increasing demand for gyroscopes in virtual and augmented reality: The growing popularity of virtual and augmented reality applications is driving the demand for gyroscopes. Gyroscopes are used in augmented reality and virtual headsets to track the orientation and movement of the user's head, which enables the system to generate an immersive experience. The demand for these applications is expected to continue to grow, which will drive the demand for gyroscopes in the coming years.

Global Gyroscopes Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Gyroscopes Market analysis, the market is expected to experience significant growth in the coming years, driven by increasing demand for gyroscopes in various applications such as aerospace, defense, and consumer electronics. The increasing adoption of automation and robotics in industries such as manufacturing and healthcare is also expected to drive the demand for gyroscopes. In addition, the development of innovative gyroscopes with improved accuracy and sensitivity is expected to further boost market growth. However, the high cost of gyroscopes and the availability of alternative technologies may hinder market growth to some extent. Overall, the gyroscopes market is expected to grow at a steady rate in the coming years, driven by the increasing demand for precision sensing and measurement technologies across various industries.

Report Metric Details
Market size value in 2021 USD 1.92 billion
Market size value in 2030 USD 3.51 billion
Growth Rate 6.9%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Dynamically tuned gyroscopes, ring laser gyroscopes, fiber optic gyroscopes, hemispherical resonator gyroscopes, and others
  • Application
    • Aerospace & defense, automotive, consumer electronics, industrial, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Northrop Grumman Corporation (US)
  • Thales Group (France)
  • Safran Electronics & Defense (France)
  • L3Harris Technologies, Inc. (US)
  • General Dynamics Corporation (US)
  • Leonardo S.p.A. (Italy)
  • Collins Aerospace (US)
  • KVH Industries, Inc. (US)
  • Moog Inc. (US)
  • Analog Devices, Inc. (US)
  • Bosch Sensortec (Germany)
  • Silicon Sensing Systems Ltd. (UK)
  • Epson Toyocom Corporation (Japan)
  • Sensonor AS (Norway)
  • NXP Semiconductors N.V. (Netherlands)
  • MEMSIC, Inc. (US)
  • Colibrys Ltd. (Switzerland)
  • Sensata Technologies Holding plc (Netherlands)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Gyroscopes Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Gyroscopes Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Gyroscopes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Gyroscopes Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Gyroscopes Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Gyroscopes Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

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FAQ's

Gyroscopes Market size was valued at USD 1.92 billion in 2021 and is poised to grow from USD 2.06 billion in 2022 to USD 3.51 billion by 2030, at a CAGR of 6.9% during the forecast period (2023-2030).

The Global Gyroscopes Market is highly fragmented, with the presence of several key players competing for market share. These players include major companies that are actively involved in product development, innovation, and strategic collaborations to gain a competitive edge in the market. To maintain their market position, key players focus on introducing technologically advanced gyroscopes that offer high accuracy, reliability, and performance. They invest significantly in research and development activities to improve the efficiency and functionality of gyroscopes, catering to the evolving demands of end-users. Moreover, strategic partnerships, mergers, and acquisitions are common strategies adopted by these players to expand their product portfolios, enhance their geographical presence, and tap into new market opportunities. 'Honeywell International Inc. (US)', 'Northrop Grumman Corporation (US)', 'Thales Group (France)', 'Safran Electronics & Defense (France)', 'L3Harris Technologies, Inc. (US)', 'General Dynamics Corporation (US)', 'Leonardo S.p.A. (Italy)', 'Collins Aerospace (US)', 'KVH Industries, Inc. (US)', 'Murata Manufacturing Co., Ltd. (Japan)', 'Moog Inc. (US)', 'Analog Devices, Inc. (US)', 'Bosch Sensortec (Germany)', 'Silicon Sensing Systems Ltd. (UK)', 'Epson Toyocom Corporation (Japan)', 'Sensonor AS (Norway)', 'NXP Semiconductors N.V. (Netherlands)', 'MEMSIC, Inc. (US)', 'Colibrys Ltd. (Switzerland)', 'Sensata Technologies Holding plc (Netherlands)'

The growing adoption of unmanned vehicles in various industries such as defense, agriculture, and logistics is driving the demand for gyroscopes. Gyroscopes are an essential component of unmanned vehicles as they enable them to maintain their orientation and stability during flight. For instance, the use of gyroscopes in drones allows them to fly autonomously and perform tasks such as surveillance, mapping, and delivery.

Growing adoption of MEMS gyroscopes in consumer electronics: MEMS gyroscopes are increasingly being used in consumer electronics such as smartphones, tablets, and gaming consoles. This is due to their small size, low power consumption, and low cost compared to other types of gyroscopes. MEMS gyroscopes enable features such as motion sensing, image stabilization, and gaming control, which are becoming more prevalent in modern electronic devices.

In terms of dominating regions, North America and Europe are leading the global gyroscopes market due to the presence of well-established aerospace and defense industries in these regions. These industries rely heavily on gyroscopes for various applications, including navigation, guidance, and stabilization. Additionally, the presence of major players such as Honeywell International Inc. and Northrop Grumman Corporation in these regions is contributing to their dominance in the market.

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