Global Inertial Navigation System Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.55% over the forecast period 2021-2027. Inertial Navigation Systems are used as a navigational aid based on the dead reckoning technique, which determines the initial location, attitude, and velocity of a moving object without the assistance of external references. The attribute of inertia is the ability of an object to retain a constant rotational and transactional velocity in the absence of torques or forces. The inertial navigation system market is being boosted by new investments in military and marine applications. The market is expected to be driven by the growing aerospace sector and technical developments in navigation systems. According to the Association for Unmanned Vehicle Systems International, the US military has proposed spending USD 9.6 billion on unmanned vehicle systems in 2019 (a 28 percent increase over the previous year). Furthermore, increasing product launches by private players boost the market growth of inertia navigation system. For instance, Honeywell International Inc. introduced two new inertial measurement units in September 2019 to enable navigation in a small, lightweight design without reducing cost. It can survive almost any sort of atmosphere, whether it’s in the air, on land, or under water. These IMUs may be used in a variety of applications, including robotics, surveying and mapping, unmanned vehicles, and transportation. However, Decline in Defence Budgets of Developed Countries, may impede market growth over the forecast period of 2021-2027.

The North American market is expected to take up a majority of the overall market. The defence industry has a significant demand for inertial systems in the region, since it has to deliver precise navigation and location information to combat platforms while on operations. There is also a demand for inertial systems in the US maritime sector, primarily owing to the renewed emphasis on oil exploration activities.

Major market player included in this report are:
Trimble Navigation Ltd. (US)
Honeywell International Inc.
Oxford Technical Solutions Ltd
Northrop Grumman Corporation
Lord Microstrain
Novatel Inc
Tersus GNSS Inc.
Aeron Systems Pvt. Ltd
Inertial Sense LLC

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By End user Industry:
Aerospace and Defense
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Inertial Navigation System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers