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Ring Laser Gyroscope Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4128

Ring Laser Gyroscope Market size is set to record substantial gains over the span of 2021-2027. The growth is ascribed to various factors including growing demand from defense applications focused on the upgrading the current navigation systems and increasing expenditure on the development of new defense vessels. Besides, the incorporation of advanced technology in underwater and unmanned aerial vehicles is complementing the growth structure of ring laser gyroscope market.
 

Furthermore, increasing demand from commercial applications, especially space exploration vehicles and commercial aircraft, driven by inertial navigation system upgrade in commercial aircraft and advancements of ring laser gyroscopes for spacecraft would further escalate the market demand.
 

Ring laser gyroscope is generally used to calculate the angular rotation of a diverse range of platforms like aircraft, naval ships, and spacecraft. These devices are also used in moving parts of mechanical gyroscopes and offer superior accuracy, making the defense applications segment an ideal growth vertical for the market during the forecast time frame.
 

Ring laser gyroscopes are being largely used for government and commercial applications. RLGs boast intrinsic use in commercial aircrafts, defense applications, and more. In commercial aircraft, RLG is remotely mounted allowing the cavity path to rotate around one of the axes of the flight. On aircraft, RLG is deployed for each axis of the flight. Output can potentially be used in autopilot systems and analog instrumentation. This makes the aircraft compatible for use by digital display computers and for digital autopilot computers.
 

Various commercial companies operating in the space and central governments are taking up significant measures to introduce novel innovations to serve the escalating need of vivid consumers. For instance, the U.S Navy shipboard and guidance specialists had in 2020, approached Northrop Grumman to develop AN/WSN-7 ring laser gyro shipboard navigation under a deal of USD 210.1 million. The system is expected to sense ship motion and compute velocity, position, heading, and attitude in digital and analog formats.
 

Europe ring laser gyroscope market is projected to gain maximum profits in the overall industry, owing to the rising expenditure on defense among prominent European economies including Germany, France, the UK, and Italy. The global defense spending across the European Union reached USD 1.83 trillion in 2020, depicting an average peak of 1.85% in 2019 to 2.08% in 2020. The regional market is being led by the adoption of advanced technology like automation in industries, buildings and homes, and increasing aviation industry warehouses.
 

The mounting demand for advanced aerospace technologies would further impel the demand for ring laser gyroscopes in the European economies. In addition, imposition of stringent government regulations and annual budgets in defense sector in these countries would augment the regional dynamics.
 

Northrop Grumman Corporation, Xsens Technologies B.V. (MCube, mCube Hong Kong Limited), Kearfott Corporation, Ericco International Limited, Honeywell International, and Teledyne Marine, amongst others, are some of the leading faces operating in the global ring laser gyroscope market.
 

These market vendors have been relentlessly working on establishing marketing strategies such as mergers and acquisitions, product developments, and partnerships to consolidate their position in the overall market.
 

COVID-19 pandemic impact on ring laser gyroscope market trends

The global ring laser gyroscope industry forecast is anticipated to be influenced severely by the COVID-19 pandemic outbreak. In 2020, aviation, commercial aircraft, and other industries were massively hit by stringent lockdown norms put forth by different governments. Besides, a halt in various research and development activities by leading organizations in the space had as well produced a sluggish growth in the overall market during the previous year.
 

The market research report on ring laser gyroscope includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

 Market, By Number of Axis

  • Single axis
  • Multi-axis

Market, By Application

  • Commercial
  • Government

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa (MEA)
    • GCC
    • South Africa

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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