2013-12-31 07:23:52 - The global inertial sensors market is slated to grow at a 10.5% CAGR during the period 2013 – 2018.
Inertial Sensor market is growing at a steady pace across the globe making owing it to the technology and advancements made in the sector. The technology growth and new inventions are making inertial sensors affordable, smaller and more accurate increasing the market size very rapidly. The benefit with inertial sensors is it works in air and underwater without any external support.
Reportedly the growing market for aerospace, Defense-Military and Commercial sectors across the globe is the growth factor for Inertial Sensors. The market is highly segmented at both end user level and product level. This is due to change in certain technology between aerial and marine sectors. At product level the market is segmented with components used in Inertial
Sensors such as gyroscopes, accelerometers, GPS and encoders.
The market across the globe for Inertial Measurement Units alone is set to grow from $2.2bn in 2013 to $3.2bn by 2018. This presents a huge growth opportunity for Inertial sensors manufactures in emerging countries where service and labor are much cheaper compared to the Americas. Many players are looking forward for growth opportunity in developing nations like India.
Innovation is clearly seen in the products launched by different companies, for e.g. companies such as VectorNav , Systron Donner Inertial and Advanced Navigation launched Miniature Inertial MEMS to reduce the size and increase efficiency of the system.
The IndustryARC report on the Global Inertial Navigation systems Market Report identifies many such insights and M&A opportunities, besides providing a detailed analysis of the Inertial Navigation systems market.
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