The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global High-end Inertial Sensors, IMUs & INS Market reached USD 3,191.5 Million in 2018 and is expected to attain a market value of USD 5,182.6 Million by the end of 2027 by registering a CAGR of 5.6% across the globe. The global demand for Defense based High-end Inertial Sensors, IMUs & INS application is increasing on the back of significant growth in military strengthening. Transformation and increasing automotive production in countries such as India, China, Indonesia, Sweden, Mexico, Finland and Brazil is backing the emerging installation of the high end inertial sensors in the automotive sector.
On the other hand, worldwide sales of High-end Inertial Sensors, IMUs & INS Market reached 32,221.1 Thousand Units in 2018and is expected to increase to 52,988.0 Thousand Units by the end of 2027. Rapid industrialization and automation in developing countries is one of the key factors responsible for the growth of global High-end Inertial Sensors, IMUs & INS market over the forecast period.
North America is expected to account for highest share of 30.50% by value, by 2027 in the global High-end Inertial Sensors, IMUs & INS Market. The growth in the region can be attributed to the recovery in the economy after the sub prime crisis which further delineates significant growth. Asia Pacific is slated to account highest share of 34.64% by volume by 2027 in the High-end Inertial Sensors, IMUs & INS market. High prevalence of geopolitical risks in developing countries sustains the growth of High-end Inertial Sensors, IMUs & INS market in defense and marine applications.
Micro-Electro-Mechanical System (MEMS) is amidst the fastest growing technologies in the High-end Inertial Sensors, IMUs & INS market with a growth rate of 6.5% with an increase in the market value from USD 571.82 Million in 2018 to USD 1,003.04 Million in 2027. Growth in the segment is transmuted on account of rising use of aircrafts in commercial applications which in-turn is attributed to result in an increase in demand for High-end Inertial Sensors, IMUs & INS in forth coming years.
Automotive industry is considered to be amongst the prominent applications in the the High-end Inertial Sensors, IMUs & INS market over the forecast period with USD 405.71 Million in 2018 to USD 741.49 Million in 2027. Growth in the segment is projected on the back of rising demand for autonomous land as well as air vehicles accompanied with increasing automobile production across the developing regions.
Northrop Grumman, Safran, Thales Group are some of the leading players in the global High-end Inertial Sensors, IMUs & INS Market.