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Inertial Navigation System Market Size

  • Report ID: GMI9804
  • Published Date: Jun 2024
  • Report Format: PDF

Inertial Navigation System Market Size

Inertial Navigation System Market size was valued at USD 10.2 billion in 2023 and is anticipated to grow at a CAGR of over 5% between 2024 and 2032. With the rise of electronic warfare capabilities including GPS jamming, there is a growing demand for reliable navigation solutions for such threats. The defense sector increasingly relies on autonomous systems for reconnaissance, surveillance, and strike missions, creating a growing need for highly accurate and reliable navigation solutions.

 

For instance, in June 2024, BAE Systems unveiled its NavStorm-M, a gun-hardened integrated anti-jamming and Global Positioning System (GPS) receiver for artillery rounds, bombs, missiles, and unmanned systems. It consists of a next-generation Assured-Positioning, Navigation, and Timing (A-PNT) device with M-Code GPS technology that supports warfighters for successful mission completion.
 

There is a rising demand for compact, lightweight, and low-power inertial navigation systems, supported by the need for integration into smaller platforms such as drones, wearable devices, and portable electronics. Miniaturization ensures broader adoption across a range of applications including consumer electronics, healthcare, and industrial automation. Micro-electromechanical System (MEMS) technology continues to advance, with the striking development of high-performance inertial sensors with reduced size, cost, and power consumption. MEMS-based gyroscopes and accelerometers are increasingly used in navigation systems, offering improved performance, reliability, and affordability.
 

Achieving and maintaining high accuracy is essential for the effectiveness of an inertial navigation system. Their accuracy refers to how closely these navigation systems estimate the true position, velocity, and orientation of the platform they are installed on. Gyroscopes are prone to drift due to imperfections in the mechanical or optical components, as well as temperature variations and aging effects. Gyroscopic drift leads to errors in estimating orientation and results in position errors over time.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of inertial navigation system reached USD 10.2 billion in 2023 and is set to witness over 5% CAGR between 2024 and 2032, owing to the growing demand for reliable navigation solutions to tackle security threats.

The gyroscopes segment of the inertial navigation system industry held a decent share in 2023 and will grow at over 7% CAGR between 2024 and 2032, due to rapid technological advances.

Asia Pacific market size is estimated to reach USD 5 billion by 2032, driven by increased defense budgets.

Honeywell International Inc, Northrop Grumman Corporation, Safran Electronics & Defense, Thales Group, Raytheon Technologies Corporation, General Electric Company, and Collins Aerospace among others.

Inertial Navigation System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 360
  • Countries covered: 22
  • Pages: 220
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