Inertial Measurement Unit (IMU) Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2022
The inertial measurement unit market report provides
an analysis of the market from 2017 to 2022. It discusses industry and
technology trends that are currently prevailing in the inertial measurement
unit market, along with the drivers, restraints, challenges, and opportunities in
the market. The inertial measurement unit market is projected to grow from an
estimated USD 16.46 billion in 2017 to USD 21.74 billion by 2022, at a CAGR of 5.72%
during the forecast period. The
increasing demand for accuracy in navigation is one of the key factors driving
the inertial measurement unit market. Other factors such as increasing demand
for aircraft, high volume production of smartphones, etc., also positively
impact the market growth.
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In terms of market by technology, the MEMS segment
is poised to grow at the fastest pace during the forecast period. A
Micro-Electric-Mechanical System (MEMS) is a miniaturized inertial measurement
unit which includes micromechanical and electrical components. Technological
advancements in MEMS have resulted in its increased applicability in unmanned
aerial vehicles and small aircraft. The new quartz-based MEMS are smaller in
size and less expensive as compared to conventional ones. Furthermore, owing to
its small size, MEMS can be mounted directly on a Printed Circuit Board (PCB),
thereby facilitating seamless integration in consumer electronic products.
Furthermore, MEMS inertial measurement units are expected to replace fiber
optics gyro inertial measurement units in the tactical grade performance
applications in the coming years.
Based on grade, the space grade IMU segment is
estimated to grow at the highest CAGR from 2017 to 2022. Space grade IMUs are
used for space navigation applications as these applications require high
accuracy, especially during the highly dynamic flight phases such as ascent,
descent, entry, and landing of spacecraft. Factors such as increased
investments in satellite manufacturing and associated satellite launches are
contributing to the high demand for space grade IMUs.
Based on application, the space launch vehicle
segment is estimated to be the fastest-growing segment in the inertial
measurement unit market during the forecast period. This high growth is
attributed to the increased space research and emphasis on space exploration
activities, leading to the use of a greater number of launch vehicles.
Asia-Pacific is estimated to be the fastest growing
market for IMUs during 2017 to 2022. Factors including the increase in defense
budgets of emerging countries such as China and India, increasing air passenger
traffic in the region, and significant demand for smartphones and automobiles
owing to increase in disposable income of the middle-class population, among
others, are driving the market growth in this region.
Major players operating in the inertial measurement
unit market include Honeywell (US), Northrop Grumman (US), Safran Electronics
& Defense (France), Bosch (Germany), and STMicroelectronics (Switzerland).
These key players offer inertial measurement units based on various
technologies such as MEMS, Ring Laser Gyro (RLG), and Fiber Optics Gyro (FOG).
These companies have well-equipped manufacturing facilities and strong
distribution networks across North America, Europe, and Asia Pacific.
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USA: 1-888-600-6441
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