DUBLIN--(BUSINESS WIRE)--The "Inertial Navigation System Market by Grade, Technology, Application, Component, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The Inertial Navigation System Market is Projected to Grow from an Estimated USD 9.54 Billion in 2017 to USD 12.26 Billion by 2022, at a CAGR of 5.15% During the Forecast Period
This growth can be attributed to factors, such as increased demand and production of aircraft and missiles, availability of components at affordable prices, miniaturized size, and need for accurate navigation systems providing high reliability. However, operational complexity associated with INS and decline in defense budgets in some of the major countries are expected to restrain the growth of this market.
Based on the application, the missile segment is estimated to account for the largest share in the inertial navigation system market in 2017. The increase in transnational conflicts has led to rising defense expenditure in various emerging countries worldwide. Countries across the globe are investing in the development of missile systems, such as ballistic missiles, and cruise missiles, among others, which require inertial navigation systems for guidance. The need for the inertial navigation system in missiles is contributing to the growth of the INS market in missiles.
The missile system segment consists of various systems, such as navigational systems, inertial reference systems, and air data systems, which use premium quality sensors, and owing to these factors this market is projected to lead during the forecast period.
North America is estimated to account for the largest share in the inertial navigation system market in 2017. Major missile and aircraft manufacturers, such as Boeing (US), Lockheed Martin (US), Bombardier (Canada), Bell Helicopter (US), and Sikorsky Aircraft (US), BAE Systems, Inc. (US), The Raytheon Company (US), and General Dynamics Corporation (US), among others, are based in this region, and thus generate high demand for inertial navigation systems.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Inertial Navigation System Market, By Application
8 Inertial Navigation System Market, By Component
9 Inertial Navigation System Market, By Technology
10 Inertial Navigation System Market, By Grade
11 Inertial Navigation System Market, By Region
12 Competitive Landscape
13 Company Profiles
- General Electric Company
- Gladiator Technologies, Inc
- Honeywell International Inc.
- Lord Microstrain
- Northrop Grumman Corporation
- Rockwell Collins, Inc.
- Safran Electronics & Defense
- Teledyne Technologies, Inc.
- Thales Group
- The Raytheon Company
- Trimble Navigation Ltd.
- Vectornav Technologies, LLC
For more information about this report visit https://www.researchandmarkets.com/research/g3dt7s/inertial