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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