It has been observed in last several years that high-performance inertial sensors and IMU market is in great demand as they happen to be a key component in inertial navigations systems as they are majorly used for gauging movement of the objects, majorly in those spaces where normal navigation systems aren’t reliable.
The growth of the high-performance inertial sensors and IMU market was hindered due to recent COVID-19 pandemic. The industrial sector saw a slump in production of these sensors owing to lockdown curbs imposed worldwide. Meanwhile, several companies had to re-access their future by opting for latest equipment in order to ramp up rate of production.
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Owing to high-demand for these sensors, mainly from the aircraft and maritime industry, from both the sectors: defense and commercial. The surge in the production of aircrafts and helicopters is forecasted to drive the growth of the High-performance Inertial Sensors and IMU Market. Also, the rising use of unmanned vehicles for military along commercial applications is also contributing to the growth of this market.
On the other hand, strict rules and regulation in regards with High-performance Inertial Sensors and IMUs as they happen to be very critical in terms of security. This happens to be a major restraining factor in the growth of this market. Irrespective of few hindrances, the high-performance inertial sensors and IMU market is forecasted to grow at a rapid rate in next few years courtesy of surging demand from many emerging markets like automobiles and railways. Also, the fact that jump in adoption of IMU in various consumer electronic devices is also driving this market’s growth.
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Key Takeaways – Global High-Performance Inertial Sensors and IMU Market:
- Global high-performance inertial sensors and IMU market was valued at US$ 16.2 Bn in 2021, growing at an estimated CAGR of 8% over the forecast period.
- Reduction in size of high-performance inertial sensors and IMUs along with emergence of wireless transmission technology contributes majorly to higher adoption is various applications and this drives the growth of the Market.
- Automotive market is continuously working on driver-less cars and these sensors play an important role in it. Emergence of companies like Tesla contributes to the growth of this market.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the High-performance Inertial Sensors and IMU Market. Countries like China, India, Japan and South Korea are investing huge amounts in development of high-performance inertial sensors along with IMUs. Also the fact, these countries are also focusing on ramping up the production of helicopters and aircrafts.
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A few of the major players operating in the global high-performance inertial sensors and IMU market are listed below:
- Airbus Defence and Space SAS
- Bosch Sensortec GmbH
- Collins Aerospace
- EchoBlue Ltd.
- Gladiator Technologies
- Honeywell International Inc.
- Inertial Labs
- Northrop Grumman
- Parker Hannifin Corp
- SBG Systems
- Silicon Sensing Systems Limited
- VectorNav Technologies, LLC
- Other Market Participants
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Global High-Performance Inertial Sensors and IMU Market
- Resonating gyroscopes
- Pendulous Rebalance Accelerometers
- Force Rebalance Accelerometers
- Resonant Element Accelerometers
- Thermal Accelerometers
- MEMS Accelerometers
- Military and Defense
- Defense Ships
- Defense Transport aircraft
- Defense UAVs
- Military Submarines
- Civil Aircraft
- Civil Helicopters
- General Aviation
- Business Jets
- Consumers Electronics
- Wireless Headsets
- Energy and Mining
By Distribution Channel
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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