The Global Gyroscopes Market is valued at USD XX. XX billion in 2016 and is expected to reach a value of USD XX. XX billion by the end of 2022, growing at a projected CAGR of XX. XX % during the forecast period of 2017 – 2022. The advancement of global lifestyle has resulted in the need for equipment with greater ease of use. This has enabled the use of motion sensing technology which extensively uses inertial sensors. This has become a key driving factor in this market and will play an important role in defining the trend for the next few years.
The gyroscope is an important device in many industries like aviation, ships, smartphones, tablets, robotics and much more. It uses the principles of angular momentum to measure and maintain the orientation. It is used in equipment in which orientation plays a decisive role in the proper functioning.
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A comprehensive overview of the market for gyroscopes over the period 2017- 2022 has been given in this report. The report segments the market by area of application with an in-depth analysis of every segment in each area. Aerospace, land-based, marine and subsea applications are explained with comprehensive market analysis of each segment.
The unprecedented rise in unmanned vehicles across various applications in both civilian and defense applications has increased the need for complex navigational systems which include inertial sensors. The rapid advancement in technology has made sensors both accessible and affordable making their use abundant in day-to-day devices.
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Defense industry takes the major share of the market with applications like missile guidance, control and targeting, precision guided munitions, tank turret stabilization and torpedo guidance. Other primary industries where these systems are used include industrial manufacturing, energy and infrastructure, transportation and aviation. An analysis of the key players in the market has been provided with an outlook on the competitive landscape and valuable insight for the investors.
DRIVERS: 1. The rapid rise of unmanned vehicles in both defense and civilian applications
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