Global Inertial Sensor Market – Industry Trends and Forecast to 2029

Global Inertial Sensor Market, By Type (Attitude Heading and Reference Systems (AHRS), Inertial Navigation Systems/Inertial Navigation Units (INUs), Inertial Measurement Units (IMUs)), Component (Accelerometers, Gyroscopes, Encoders, Magnetic Sensor, GPS), Application (Transport, Agriculture, Healthcare, Devices & Machinery (Commercial), Air Force, Navy & Military (Defense), Aerospace)– Industry Trends and Forecast to 2029

Inertial Sensor Market Analysis and Size

Through the use of micro-fabrication and micro-machining processes, the development of Micro Electro Mechanical Systems (MEMS) technology led to the miniaturization of mechanical and electro-mechanical components in the field of sensors and semiconductors. As a result, MEMS are now an essential component of future navigation systems, which is driving the expansion of the inertial systems industry.

Global inertial sensor market was valued at USD 10.20 billion in 2021 and is expected to reach USD 15.55 billion by 2029, registering a CAGR of 5.41% during the forecast period of 2022-2029. 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.

Report Scope and Market Segmentation

Market Definition

An inertial sensor measures an object's acceleration and angular velocity along three axes that are perpendicular to one another. IMUs calculate these values using the laws of motion (i.e., by indirectly measuring specific forces).    

Global Inertial Sensor Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising focus on the technological advancements

Over the forecast period, it is anticipated that the market would rise as a result of ongoing innovation and technological breakthroughs that will bring improved resolutions and features this will both, directly and indirectly influence the market growth rate in the upward direction.   

Furthermore, the factors such as rising urbanization, industrialization and mounting number of research and development activities are some other important market drivers. Additionally, favorable government initiatives to encourage adoption and increase personal disposable income are anticipated to drive the market's growth rate.

Opportunities

• Growth and expansion

Growth and expansion of the semiconductors and electronics industry especially in the developing economies will present very many opportunities for the growth of the market. Keeping up with advancements in manufacturing/ production technology may also be beneficial for the market as a whole.

Restraints/Challenges  

• High costs associated

Large size and high expense were major barriers to the widespread deployment of inertial systems. Additionally, it is anticipated that the integration drift inaccuracy in the navigation system will present difficulties for the market expansion for inertial systems. Another main obstacle to the market's expansion will be people's lack of knowledge about the technology that is available.

• Vulnerability to errors

In the aforementioned forecast period, measurement mistakes accumulated over time and inadequate accuracy limit the market for inertial sensors. For instance, MEMS inertial sensors contain incredibly small mechanical parts that weigh just a few micrograms. Because of their light weight, these components can fail to respond to minute changes in orientation. As a result, friction and drifts cause a measuring inaccuracy that eventually spreads.

This inertial sensor 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 the inertial sensor 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.

COVID-19 Impact on Inertial Sensor Market

The market was impacted by COVID-19. The global display sector has been significantly impacted by the COVID-19 outbreak. Manufacturers have stopped operations as a result of the supply interruptions, slowing down production. The demand decreased significantly compared to prior years due to decreasing consumer expenditure and trade restrictions that constrained the availability of raw materials. Due to the uncertainty surrounding the COVID-19's upcoming waves, the market will find it difficult to resume its prior growth rates.

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 Developments

• For its Nuuva V300 cargo unmanned aerial vehicle, Pipistrel chose Honeywell's most recent Attitude Heading Reference System and Air Data Module in April 2021. (UAV). The technologies work in conjunction with Honeywell's Compact Fly-By-Wire system onboard the aircraft and offer vital navigational and motion-sensing data.
• In order to support the Perseverance Rover of the NASA Jet Propulsion Laboratory, Northrop Grumman Corporation donated vital navigational and essential components in February 2021. The LN-200S inertial measurement unit (IMU) from Northrop Grumman, as well as pressurant tanks for the Rover's Gas Dust Removal Tool (GDRT) and propellant tanks for the Rover's controlled descent element, are used by the Perseverance Rover to provide attitude and acceleration information for guidance.

Global Inertial Sensor Market Scope

The inertial sensor market is segmented on the basis of type, component and application. The growth amongst these segments will help you analyze 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.

Type

• Attitude Heading and Reference Systems (AHRS)
• Inertial Navigation Systems/Inertial Navigation Units (INUs)
• Inertial Measurement Units (IMUs)

Component

• Accelerometers
• Gyroscopes
• Encoders
• Magnetic Sensor
• GPS

Application

• Transport
• Agriculture
• Healthcare
• Devices & Machinery (Commercial)
• Air Force
• Navy & Military (Defense)
• Aerospace

Inertial Sensor Market Regional Analysis/Insights

The inertial sensor market is analyzed and market size insights and trends are provided by country, type, component and application as referenced above.

The countries covered in the inertial sensor market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

During the forecast period, due to the increase in the number of product innovations and increasing government backing, Asia-Pacific is anticipated to account for a sizeable portion of the market. Also, surging use of inertial sensors in aerospace and military sectors in the Asia-Pacific region is driving the dominance of this region.  

Over the forecast period, North America is anticipated to have the highest CAGR. Over the course of the forecast period, it is expected that the market growth in the region will rise. The high scale demand from the transportation industry is bolstering the growth in this region.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream 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 their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Inertial Sensor Market Share Analysis

The inertial sensor market competitive landscape provides details by competitor. 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, application dominance. The above data points provided are only related to the companies' focus related to inertial sensor market.

Some of the major players operating in the inertial sensor market are

• Rockwell Automation, Inc. (U.S.)
• Honeywell International Inc. (U.S.)
• Texas Instruments Incorporated (U.S.)
• Panasonic Corporation (Japan)
• STMicroelectronics (Switzerland)
• TE Connectivity (Switzerland)
• Siemens (Germany)
• Amphenol Corporation (U.S.)
• Dwyer Instruments, LLC. (U.S.)
• Bosch Sensortec GmbH (Germany)
• ABB (Switzerland)
• Endress+Hauser Group Services AG (Switzerland)
• Emerson Electric Co. (U.S.)
• SICK AG (Germany)
• TDK Corporation (Japan)
• KVH Industries, Inc. (U.S.)
• Meggitt PLC. (U.K.)
• Northrop Grumman. (U.S.)
• Safran (France)
• Atlantic Inertial Systems, Inc. (U.K.)