The Global Inertial Measurement Units Market is valued at USD 2.77 billion in 2016 and is expected to reach a value of USD 4.66 billion by the end of 2022 , growing at a projected CAGR of 9.06 % during the forecast period of 2017 – 2022 . The progression of worldwide lifestyle has resulted in the need for equipment with greater ease of use . This has enabled the use of motion sensing technology which uses inertial sensors extensively . This is a key driving factor to this market and will play an important role in defining the market for the next few years .
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Inertial system equipment includes gyroscopes , accelerometers , inertial measurement units , inertial navigation systems and multi-axis sensors . It is an independent system used to measure the angular and linear motion with a troika of accelerometers and troika of gyroscopes .
The report delves into the impact of the rise of unmanned vehicles : aerial , land and water based , and on the use of inertial sensors . The unprecedented rise in unmanned vehicles across various applications in both civilian and defense applications has increased the need for complex navigational systems that includes inertial sensors . The rapid advancement in technology has made sensors both accessible and affordable which has made their use abundant in day-to-day devices .
The global inertial measurement unit market has been broadly segmented into different components ( gyroscope , accelerometer , magnetometer and others ) and applications ( commercial , defense , marine , industrial and others ).
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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 . The other primary industries where these systems are highly in demand are industrial manufacturing , energy and infrastructure , transportation and aviation .
The market has also been geographically segmented into North America ( the United States , Canada and other ), Europe ( Germany , the United Kingdom , France and rest of Europe ), Asia- Pacific ( China , Japan , India and others ) and rest of the world .
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