DALLAS, TX -- According to a new market research "Inertial Measurement Unit (IMU) Market by Component - Accelerometer, Gyroscope, Magnetometer, by Application - Commercial, Defense, Industrial & Marine, by Gyro Technology- RLG, FOG, MEMS, HRG, Vibrating gyro, by Platform - Airborne, Land, Naval, and By Geography - Forecasts & Analysis to 2014 - 2020", published by MarketsandMarkets, the Inertial Measurement Unit Market is estimated to be at $2.14 Billion in 2014 and is expected to register a CAGR of 7.87% to reach $3.37 Billion by 2020.
The report provides market analysis of the Inertial Measurement Unit (IMU) Market for the next six years. It explains market and technology trends to gain competitive market intelligence. The market share of the leading companies in this market has been covered under competitive analysis. The impact of drivers and restraints has been analyzed and their impact on this market has been listed to provide an in-depth insight of the market.
The Inertial Measurement Unit (IMU) Market is highly competitive, with enormous number of market players. This report studies the growth strategies adopted by the market players. The strategies adopted by the players to expand their global presence and increase their market share includes partnerships, agreements, collaborations, joint ventures, mergers, acquisitions, and new product launches.
For commercial application, the increase in passenger travel demand in countries like India, China, the Middle East, and other Asia-Pacific countries is the reason for growth in the aircraft market. As IMU is one of the necessities in every aircraft for efficient navigation as it is a prime component of INS, its market is growing with the market for aircraft. The demand for IMU is also increasing due to advancement in technology; high availability of low cost MEMS gyros have made it cheaper, compact, and affordable. The integration of GPS with INS has become more common in aviation.
Of the regions considered for Inertial Measurement Unit (IMU) Market, North America contributes the largest portion of the market share of the total market. Advancement in MEMS technology and growing demand for commercial aircrafts and business jets are important factors that are responsible for driving this market in this region.
The Inertial Measurement Unit market is estimated to be at $2.14 Billion in 2014 and is expected to register a CAGR of 7.87% to reach $3.37 Billion by 2020. The rise in research, procurement, and use of Unmanned Underwater Vehicles (UUVs) over the past decade has seen significant advances made in the range of UUV payloads including IMU and subsystems. UUVs are rapidly emerging as the platforms of choice for many military and commercial applications; including mine countermeasures and reconnaissance. Such type of application has a great potential for the growth of Inertial Measurement Unit (IMU) Market.
The industry is witnessing new entrants from emerging economies in the MEMS and FOG segment. These, in turn, are acting as a boon for IMU component manufacturers. The manufacturer are focused on the development of more advanced silicon or quartz MEMS technology as it could provide phenomenal performance in the same package with bias <1 degree/hour. This would be beneficial for commercial and industrial applications like pipeline inspection, mine hunting, unmanned aircraft surveillance, guided missiles, business jets and other commercial aircrafts.
The Inertial Measurement Unit (IMU) Market report provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of major companies in the industry, and other key news. It provides information about the leading competitors in this market.
The leading players in Inertial Measurement Unit (IMU) Market include Northrop Grumman Corporation (U.S.), Honeywell International Inc. (U.S.), Thales (France) and Sagem (France), however, Moog Inc. (U.S.), Rockwell Collins (U.S.), VectorNav Technologies (U.S.), Systron Donner Inertial (U.S.), SBG systems (U.S.) and KVH Industries (U.S.) are other prominent players in this market.
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