Inertial Measurement Unit (IMU) Market Set for 8.22% CAGR expected to hold a market share Precision in Motion
Research Reports
Aug 24, 2023
Market Research Future Insights
The IMU market is set to expand from USD 27.5 Billion in 2023 to USD 44.3 Billion by 2030, with a robust 8.22% CAGR during 2023-2030.
A spinning mass is a component of mechanical gyroscope technology that aids in the device’s rotation around its axis. As a result, it is driving larger Inertial Measurement Unit market growth during the evaluation period. Additionally, it is anticipated that during the projected period, the ring laser gyro technical segment will produce consistent Inertial Measurement Unit Market Growth. Given that it is entirely based on the ring laser, this gyro technology is useful for detecting rotation. To determine the rotation, it employs the Sagnac effect and two separate counter-propagating resonant modes. In 2018, fibre optic gyro technology, which makes use of the Sagnac effect and detects orientational distinction, led the inertial measurement unit market.
It is common practise to measure the system’s rotation, velocity, and acceleration using an inertial measurement unit. Magnetometer, gyroscope, and accelerometer are typically used in the inertial measurement unit (IMU). Since inertial measurement units are combined into INS (inertial navigation systems), it is necessary for them to calculate the angular rates, attitude, location, and linear velocity linked to a large reference frame.
Due to the widespread use of MEMS in unmanned systems, the microelectro mechanical systems (MEMS) gyro technology is predicted to have the greatest CAGR during the study timeframe. Typically, the angular velocity is detected utilising the sensing vibrating mechanical element of MEMS gyroscopes. It does not have any rotating components because it is tiny in size.
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Key Players
General Electric Company (US), Gladiator Technologies Inc. (US), Honeywell International Inc. (US), Lord Microstrain (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), and others
Market Segmentation
The global market is divided into three categories: technology, end users, and components, according to the inertial measurement unit market analysis.
The market has been divided into four categories based on the technology used: ring laser gyro, mechanical gyro, microelectromechanical systems (MEMS) gyro, and fibre optics gyro. Inertial measurement unit market growth is expected to be highest in the mechanical gyro segment during the study period.
The market has been divided into accelerometers, magnetometers, and gyroscopes by the component sector.
In general, a gyroscope is used to calculate the orientation and measure the angular motion of UMVs, aircraft, UGVs, and UAVs utilising the earth’s gravity. Since an accelerometer monitors non-gravitational acceleration and velocity, it is regarded as a substantial aircraft component. Magnetometers are typically used in conjunction with gyroscopes and accelerometers to enhance attitude estimate performance.
The inertial measurement unit market has been segmented into the automotive, aerospace, defence, industrial, and other end-users categories. By generating the highest Market Share during the forecast period, the aerospace and defence segment among them occupies the leading position.
Regional Analysis
The global market is divided into several geographical regions, including North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, according to Inertial Measurement Unit Market Analysis.
Due to the presence of major key players like Northrop Grumman Corporation, General Electric Company, United Technologies Corporation, and Honeywell International Inc. in the region and their significant investments in the development of IMUs, the North American regional market is predicted to dominate the global market by holding the largest Market Share during the forecast period. Furthermore, a high CAGR is anticipated for the Asia-Pacific market throughout the study period.
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Due to rising demand for new aircraft and rising defence spending in developing nations like India and China, this area is driving the expansion of its industry. The market for inertial measurement units in the Middle East and Africa is also expanding as a result of rising defence spending in nations like Israel, the United Arab Emirates, and Saudi Arabia. Additionally, Latin America’s regional market is expanding as a result of the widespread usage of UAVs for monitoring and controlling illegal immigration, drug trafficking, and deforestation.
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