London, 10 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Inertial Navigation System Market 2014-2018, which is expected to grow at a CAGR of 10.69 percent during the forecast period of 2013-2018.
The INS is a highly complex navigation aid that is integrated to other vessel management systems used on aircraft, rockets, marine vessels, and other aerial vehicles. It consists of computers, accelerometers, and gyroscopes and uses the process of dead reckoning to determine the altitude (position, orientation, and velocity) of the moving object. The major end-users of these systems hail both from the Defense and Commercial Sectors with airlines and space research organizations being some of them.
Key Market Drivers
- Strong Demand for Aircraft
- Advances in Technology in Sector
- Demand for Accurate Navigation Systems
- Easy Availability of Low-cost System Components
Key Market Trends
- R&D Investments on Low-cost MEMS-based INS
- Joint Development by Key Players
- Increasing Demand for Integrated INS
- Application of HRG Systems in Marine Navigation
Key Market Vendors
- Honeywell International Inc.
- Northrop Grumman Corp.
- SAGEM
- Thales SA
“There is a high demand for INS worldwide with defense agencies employing them on military transport, combat aircraft, choppers, warships, submarines, armored vehicles, and artillery systems,” from Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
