Inertial Sensing Systems are self- contained navigation systems that estimate the position, attitude and velocity of the system in which they are embedded. . The inertial sensing systems can be broadly classified into three categories: Inertial Navigation Systems (INS), Inertial Measurement Units (IMU), and Altitude Heading & Reference Systems (AHRS). The market for global inertial sensing systems and sensors is considerably influenced by the demands for applications in different industries, like automated agriculture, underwater researches, and high speed trains. This in turn is driving the market at a steady rate of compound annual growth, and experts believe that it will grow from the current position of $4.7 billion in 2013, to around $7.4 billion in 2019.
Inertial sensing systems use multiple components like gyroscopes, accelerometers, GPS and encoders. Events and changes in the inertial sensor market directly affect these markets. The global market is expected to grow at healthy 8.2% CAGR for the next 5 years steadily in different segments, where IMU’s alone are expected to grow from $480m in 2013 to $1.8 billion in 2019. Moreover, the market for inertial MEMS, such as gyroscopes and accelerometers, are expected to reach around $1.71 billion by 2019. The commercial sector of this market is also growing rapidly as the inertial sensors become smaller in size and cheaper in price.
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The rapid growth in the inertial sensor market has a direct impact on the market of its components like accelerometers, gyroscopes, GPS and encoders. The premium suppliers of the inertial navigation systems include Lord Microstrain, Systron Donner Inertial, VectorNav, Trimble, EPSON, Kongsberg, Advanced Navigation, Spectracom and Aerospy, the prominent players in the market. Inertial measurement units (IMUs), Inertial Navigation Systems (INUs) are the primary end products, where these components are used.
The demand for inertial sensing systems is growing at a steady pace across the globe. Advancements in the equipment used in making them have made these cheaper, which means they are more affordable now, and the margin for error has been minimized significantly. Their ability to work underwater has given it a market in Navy and has grown its commercial market in water navigation. The major players like Trimble and Kongsberg are increasing the production of inertial sensors to meet the demand and competition in the market. Newer technologies like Laser Gyros, Fiber optic gyros and TIMU Sensors make the process of creating these sensors cheaper and they are more efficient.
IndustryARC believes that the future of inertial sensor market is strong, and with great potentials. At the compound annual growth rate of 8.2%, the market is going to see some major potential opportunities in the near future. The scope for this market is growing significantly, with the rapid growth in the Airline industries where there is a favorable market for the inertial sensors in the coming 5 years. Moreover, USA and most of the emerging markets have significant budgets fixed on the military and defense sectors, which offers a very high potential for growth for the inertial market.
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