USD 24.02 billion
Global Inertial Measurement Units (IMUS) Market Size, Share, Growth Analysis, By Component(Accelerometer, Gyroscope), By Platform(Airborne, Ground) - Industry Forecast 2024-2031
Report ID:
SQMIG45K2076 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
64 |
Figures:
77
Global Inertial Measurement Units (IMUS) Market Insights
Global Inertial Measurement Units (IMUS) Market size was valued at USD 24.02 billion in 2022 and is poised to grow from USD 27.19 billion in 2023 to USD 73.31 billion by 2031, growing at a CAGR of 13.20% in the forecast period (2024-2031).
The market is expected to increase due to the many kinds of inertial measurement units (IMU) components and their advantages for numerous industries. A gyroscope can gauge the rate and speed of rotation of an object, a magnetometer can gauge the signal's magnetic field intensity, and an accelerometer may gauge motion and direction. They are utilised by consumer electronics, drones, missiles, robotics, armoured vehicles, military and civilian aircraft, and helicopters. Global sales and shipment of new smartphones are rising. According to International Data Corporation (IDC), the number of smartphones shipped worldwide in 2020 was 1,292.2 million. The market is growing as a result of the rapid modernisation of military equipment and defence systems. In order to function under adverse weather conditions, unmanned aerial vehicles (UAVs) with autonomous navigation systems commonly use fibre optic Inertial measurement units. They are employed in battling fires, finding bombs, and conducting ISR (intelligence, surveillance, and reconnaissance). Aside from that, the sector is expanding due to the extensive use of products for virtual and augmented reality (V/AR) systems, the creation of artificial environments, and the measurement of changes in acceleration, speed, and orientation. Inertial measurement units for stable platforms operate by utilising a variety of mechanical components coupled by several joints. These joints should have no friction in order to prevent measuring mistakes. The performance of these devices is hampered by the friction faults that develop with repeated usage and wear and tear.
US Inertial Measurement Units (IMUS) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Accelerometer
Fastest Growth
Accelerometer
Growth Rate
13.20% CAGR
Global Inertial Measurements Units (IMUs) Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Inertial Measurements Units (IMUs) Market Size By Components 2022-2030 ($ Bn)
Global Inertial Measurements Units (IMUs) Market Size By Components 2022-2030 (%)
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Global Inertial Measurement Units (IMUS) Market Segmental Analysis
Global Inertial Measurement Units (IMUS) Market is segmented on the basis of components, platform and region. By components, the market is segmented into accelerometer, gyroscope, magnetometer. By platform, market is segmented into airborne, ground, maritime, space. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Inertial Measurement Units (IMUS) Market Analysis by Component
Due to its application in consumer electronics, the accelerometer market category accounted for the biggest market share in 2021. The market for inertial measurement units is expected to increase at a faster rate due to factors such as the rising use of autonomous vehicles, rising aviation spending, and the quick development of space technologies in emerging nations like China and India.
A low CAGR is predicted for the gyroscope market. The numerous applications of gyroscopes in the aviation industry are responsible for the segment's expansion. A gyroscope's features are used by several aviation equipment to operate. The turn coordinator, heading indicator, and attitude indicator are the instruments that contain gyroscopes the most frequently.
Global Inertial Measurement Units (IMUS) Market Analysis by Platform
In 2021, the space segment accounted for the largest share. The segment discusses the use of inertial sensors in space-based systems like satellite navigation systems. The guidance, navigation, and control system of a spacecraft receives inertial attitude and velocity information from the navigation grade. On the space shuttle, information is utilized to translate steering inputs into control surface, engine gimbal, and reaction control system thruster fire commands.
Due to expanding global air travel demand and rising military spending on strengthening space-based capabilities, it is anticipated that the airborne segment would expand. Over the anticipated period, the airborne segment displayed the highest CAGR. During the projected period, it is expected that the air-based platform will have the fastest growth. Because of rising demand, this market segment has grown.
Global Inertial Measurements Units (IMUs) Market Size By Components2022(%), 2023 (%)
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Global Inertial Measurement Units (IMUS) Market Regional Insights
The market was dominated by North America and reached USD 6.08 billion in 2021. US defense spending has surged as a result of the Department of Defense, it is anticipated to expand at a significant CAGR during the forecast period. The United States budgeted a budget of USD 782 billion for defense in 2022, according to the defense budget.
Due to rising spending in the space industry from countries like India, China, Japan, and Australia, Asia Pacific is anticipated to experience the fastest CAGR growth throughout the projection period. In order to provide the Indian Air Force with sophisticated fighter aircraft equipped with these capabilities, the Indian defense ministry has signed a contract with Bharat Electronics Limited (BEL).
Global Inertial Measurements Units (IMUs) Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Inertial Measurement Units (IMUS) Market Dynamics
Global Inertial Measurement Units (IMUS) Market Drivers
Growing demand for Automation in Industries to Bring Revenue Growth Opportunities
- The increasing adoption of automation in industries such as manufacturing and logistics has created a demand for IMUs that can provide accurate motion tracking and orientation sensing for robotic systems.
- The increasing investment in defence and aerospace by governments around the world is expected to drive the demand for high-performance IMUs for use in navigation, guidance, and control systems.
Global Inertial Measurement Units (IMUS) Market RestraintsCalibration and Accuracy Issues to Pose as a Threat
- IMUs require regular calibration to ensure accurate measurements, and even small errors in calibration can lead to significant inaccuracies. This could limit the adoption of IMUs in applications where high levels of accuracy are required.
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Global Inertial Measurement Units (IMUS) Market Competitive Landscape
From the stage of the innovator to the stage of the laggard, the adoption lifecycle of the market is covered in the research. Based on regional penetration, it concentrates on adoption rates. To aid businesses in analyzing and developing their growth strategies, the study also provides critical purchasing factors and factors that affect price sensitivity.
Top Player’s Company Profiles in Global Inertial Measurement Units (IMUS) Market
- Honeywell International Inc.
- Northrop Grumman Corporation
- Bosch Sensortec GmbH
- VectorNav Technologies, LLC
- STMicroelectronics N.V.
- Invensense, Inc.
- Safran Group
- Thales Group
- Trimble Navigation Ltd.
- Analog Devices, Inc.
- KVH Industries, Inc.
- Moog Inc.
- Epson Europe Electronics GmbH
- Gladiator Technologies, Inc.
- Silicon Sensing Systems Ltd.
- MEMSIC Inc.
- Sagem (Safran Electronics & Defense)
- Lord Microstrain
- Microchip Technology Inc.
- Xsens Technologies B.V.
- L3 Technologies, Inc.
- Rockwell Collins, Inc.
Global Inertial Measurement Units (IMUS) Market Recent Developments
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In January 2022, EMCORE Corporation received a continuing development award from a US contractor for finalising the design and creating a method for manufacturing high-end inertial measurement units for tactical grade pods.
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In May 2022, Emcore Corporation awarded new contracts for multistage space launch vehicle navigation grade and flight stabilisation. The corporation finalised its purchase of L3 Harris Space and Navigation. The contract is part of the space launch vehicle Tri-Axial Inertial Measurement Unit (TAIMU) programmes.
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In July 2022, Honeywell Technologies Inc. and Civitanavi Systems announced a collaboration to develop a new IMU for aerospace customers. The new HG2800 inertial measurement units are low-cost, low-power precision pointing solutions with device stabilisation.
Global Inertial Measurement Units (IMUS) Key Market Trends
- The increasing usage of unmanned aerial vehicles for commercial and military applications such as aerial photography, situation awareness, law enforcement, disaster management, relief and rescue operations, and research and development has resulted in market expansion. Smart robotics that operate remotely or with sensor technologies will contribute to a rise in the market for inertial measurement devices. Other emerging technologies, such as artificial intelligence and machine learning, have accelerated the development of unmanned vehicles. Vehicles equipped with this technology in its autonomous navigation system can navigate from a starting point to a destination while avoiding obstacles. Unmanned vehicles are rapidly being used in military applications such as fire and bomb fighting, ISR, and search and rescue employing unmanned aerial vehicles. Because of their maneuverability and ability to fly at low speeds, drones help in accurate flight control and operations in various conditions. There is growing interest in using drones for commercial and military purposes. In the unmanned aerial vehicle autopilot system, inertial measurement devices are a set of sensors used in the Inertial Navigation System (INS). It measures and reports orientation, velocity, and gravity force to aid navigation and control. An inertial measurement unit device paired with an ultrasonic sensor may map barriers such as a cliff or wall in a particular path that a walker will follow. These factors have contributed to the market's expansion.
Global Inertial Measurement Units (IMUS) 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 the robust Secondary Desk research.
According to our analyses, the global Inertial Measurement Units (IMUs) market has been experiencing steady growth in recent years and is expected to continue to grow in the coming years. The increasing demand for accurate motion sensing and navigation technology in various industries, including aerospace and defence, automotive, and consumer electronics, is driving the growth of the IMUs market. One of the key drivers of the market is the growing adoption of IMUs in unmanned aerial vehicles (UAVs) and drones. IMUs are essential for providing accurate motion sensing and navigation data, and as the demand for UAVs and drones continues to increase, the demand for IMUs is expected to grow as well. As the automotive industry moves towards more advanced technologies, the demand for IMUs is expected to increase further. There are also some restraints to the growth of the IMUs market, such as high cost, competition from alternative technologies, calibration and accuracy issues, limited lifespan, and regulatory and certification requirements. The global Inertial Measurement Units (IMUs) market is expected to continue to grow in the coming years, driven by the increasing demand for accurate motion sensing and navigation technology in various industries and applications, as well as advancements in MEMS technology and integration with other technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 24.02 billion |
| Market size value in 2031 | USD 73.31 billion |
| Growth Rate | 13.20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 Inertial Measurement Units (IMUS) 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Inertial Measurement Units (IMUS) 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global Inertial Measurement Units (IMUS) 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 Inertial Measurement Units (IMUS) 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 Inertial Measurement Units (IMUS) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Inertial Measurement Units (IMUS) 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.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Inertial Measurement Units (IMUS) Market Report Snapshots
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