Inertial Navigation System Market - Global Forecast to 2020 - New Market Study Published

Fast Market Research recommends "Inertial Navigation System Market - Global Forecast to 2020" from Markets and Markets, now available

[USPRwire, Tue Feb 02 2016] Inertial Navigation System Market by Product Grade (Marine, Navigation, Tactical, And Commercial), by Technology (RLG, Fog, MEMS, Mechanical, Vibrating GYRO, HRG), by Application (Defense and Commercial Platform) and by Geography - Global Forecast to 2020

"The growing need for navigation accuracy is driving the demand for inertial navigation system market"

According to the projections in this report, the inertial navigation system (INS) market is projected to grow from USD 4.64 billion in 2015 to USD 8.87 billion by 2020, at a CAGR of 13.81% during the forecast period of 2015 to 2020. Factors that drive the global INS market include the increasing number of aircraft, technological advancements in navigation systems, increasing demand for accuracy in navigation, and availability of smaller components at lower cost.

"Commercial platform application segment to witness the highest growth during the forecast period"

The key applications considered for the market study are naval, airborne, land, and commercial platform wherein the overall INS market is dominated by the naval platform segment. However, the commercial platform segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the demand for new aircraft in response to the burgeoning rise in air travel and congestion of airspace.

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"The vibrating gyro INS poses significant opportunities for growth"

The vibrating gyro technology in INS is expected to exhibit the highest growth rate in the INS market during the forecast period from 2015 to 2020. This growth is due to its ability to deliver better results even in the extreme weather conditions. North America is currently the largest market for vibrating gyro INS.

"The Asia-Pacific region to offer significant opportunities for growth"

The APAC region is expected to exhibit the highest growth rate in the INS market during the forecast period of 2015 to 2020. This growth can be attributed to increase in government spending for defense equipment and growing GDP of the region.

Break-up of profile of primary participants for the report has been given below.

* By Company Type - Tier 1 -20 %, Tier 2 - 40% and Tier 3 - 40%
* By Designation - C level - 30%, Director level - 10%, Others - 60%
* By Region - North America - 30%, Europe - 40%, APAC - 15%, Middle East - 15%

Nowadays, most of the inertial navigation systems are strap down systems. The inertial navigation system has evolved in terms of technology used. The advanced technology replaces the mechanical components with electronic components. The overall focus over the years has remained on increasing the accuracy and reducing the overall weight of the INS.

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