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Global Fiber Optic Gyroscope Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Upcoming Report
  • Oct 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Fiber Optic Gyroscope Market, By Sensing Axis (1-Axis, 2-Axis and 3-Axis), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System and Attitude Heading Reference System), Application (Tactical Grade Applications, Remotely Operated Vehicle Guidance,  Aeronautics and Aviation, Robotics, Defense and Homeland Security and Industrial) - Industry Trends and Forecast to 2030.

Fiber Optic Gyroscope Market

Fiber Optic Gyroscope Market Analysis and Size

The major factors that are expected to boost the growth of the global fiber optic gyroscope market in the forecast period of 2023 to 2030, are the rise in the adoption of automation in homes and industries. Furthermore, the expenditure on defense around the world is further anticipated to propel the growth of the global fiber optic gyroscope market. Moreover, the growing need of remotely operated vehicles is further estimated to cushion the growth of the global fiber optic gyroscope market.

Data Bridge Market Research analyses that the global fiber optic gyroscope market was valued at USD 1,062.00 million in 2022, and is expected to reach USD 1,862.00 million by 2030, registering a CAGR of 3.2% during the forecast period of 2023-2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Fiber Optic Gyroscope Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Sensing Axis (1-Axis, 2-Axis and 3-Axis), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System and Attitude Heading Reference System), Application (Tactical Grade Applications, Remotely Operated Vehicle Guidance,  Aeronautics and Aviation, Robotics, Defense and Homeland Security and Industrial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa

Market Players Covered

Honeywell International, Inc. (U.S.), Emcore Corporation (U.S.), Optolink LL (U.S.), C, KVH Industries, Inc. (U.S.),, Al Cielo Inertial Solutions Ltd (U.S.), Nedaero Components, (U.S.)

Market Opportunities

  • Rise in the adoption of automation in homes and industries
  • Drilling procedure in the oil industry
  • Complex, expensive, and time-consuming production procedure

Market Definition

Gyroscope is a spinning wheel and disc through which it is free to allow any alignment by the axis of rotation. Gyroscope is also an instrument used for path detection. The fibre optics gyroscope uses the sagnac effect to senses rotation. The fiber optic gyroscope is utilized for measurement during drilling procedure in the oil industry will further provide potential opportunities for the growth of the fiber optic gyroscope market in the coming years.

Global Fiber Optic Gyroscope Market Dynamics

Driver

  • Rise in the Adoption of Automation in Homes and Industries

The major factors that are expected to boost and grow the global fiber optic gyroscope market in the forecast period of 2023 to 2030, are the rise in the adoption of automation in homes and industries. Furthermore, the expenditure on defense around the world is further anticipated to propel the growth of the fiber optic gyroscope market. Moreover, the growing need of remotely operated vehicles is further estimated to cushion the growth of the fiber optic gyroscope market. On the other hand, the growing demand of advanced microelectromechanical systems gyroscopes and follows a process which consumes time is further is projected to impede the growth of the global fiber optic gyroscope market.

Opportunity

  • Drilling Procedure in the Oil Industry

The fiber optic gyroscope is utilized for measurement during drilling procedure in the oil industry will further provide potential opportunities for the growth of the global fiber optic gyroscope market in the coming years. However, the rise in the investment might further challenge the growth of the global fiber optic gyroscope market in the near future.

Challenge/Restraint

  • Complex, Expensive, and Time-Consuming Production Procedure

There is an enormous demand for fiber optics gyroscope in the global market, the complex, expensive, and time-consuming production procedure is a major prohibiting factor that creates restrictions in practicing fiber optics gyroscope, and this impedes its market expansion to some extent.

This global fiber optic gyroscope market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on global fiber optic gyroscope market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In November 2022, Advanced Navigation released its most recent product. The Boreas D70 digital fiber optic gyroscope is a momentum navigation apparatus used for surveying, tracking, and navigation in subsea, underwater, land, and air usages

Global Fiber Optic Gyroscope Market Scope

The global fiber optic gyroscope market, is segmented on the basis of sensing axis, device and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Sensing Axis

  • 1-axis
  • 2-axis
  • 3-axis

Device

  • Gyrocompass
  • Inertial Measurement Unit
  • Inertial Navigation System
  • Attitude Heading Reference System

Application

  • Tactical Grade Applications
  • Remotely Operated Vehicle Guidance
  • Aeronautics And Aviation
  • Robotics
  • Defense and Homeland Security
  • Industrial

Global Fiber Optic Gyroscope Market Region Analysis/Insights

The global fiber optic gyroscope market is segmented on the basis of sensing axis, device and application as referenced above.

The countries covered in the global fiber optic gyroscope market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa

Asia-Pacific dominates the global fiber optic gyroscope market due to the rise in the countries with high demand for fiber optic gyroscopes. Furthermore, the growing population base and augmented number of research and development activities will further boost the growth of the global fiber optic gyroscope market in the region during the forecast period of 2023 to 2030.

North America is projected to observe significant amount of growth in the global fiber optic gyroscope market due to the rise in the of development technology advancement. Moreover, the continuous need for latest technology compasses and turn coordinators is further anticipated to propel the growth of the global fiber optic gyroscope market in the region in the forecasted years of 2023 to 2030.

The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Global Fiber Optic Gyroscope Market Share Analysis

The global fiber optic gyroscope market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global fiber optic gyroscope market.

Some of the major players operating in the global fiber optic gyroscope market are:

  • Honeywell International, Inc. (U.S.)
  • Emcore Corporation (U.S.)
  • Optolink LL (U.S.)
  • KVH Industries, Inc. (U.S.)
  • Al Cielo Inertial Solutions Ltd (U.S.)
  • Nedaero Components, (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The fiber optic gyroscope market size will be worth USD 1,862.00 million by 2030.
The growth rate of the fiber optic gyroscope market is 3.2% in the forecast period by 2030.
The rise in the adoption of automation in homes and industries is the growth driver of the fiber optic gyroscope market.
The sensing axis, device, and application are the factors on which the fiber optic gyroscope market research is based.
Major companies in the fiber optic gyroscope market are Honeywell International, Inc. (U.S.), Emcore Corporation (U.S.), Optolink LL (U.S.), C, KVH Industries, Inc. (U.S.),, Al Cielo Inertial Solutions Ltd (U.S.), Nedaero Components, (U.S.)
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