The Global Inertial Sytems in Aerospace Applications 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 8.03 % during the forecast period of 2017 – 2022 . Safety in aerospace is of prime importance and inertial sensors are key components that ensure safety . The global inertial systems market , which is expected to touch USD 8.4 billion by 2021 , is expected to increase the demand for better airport security systems , which will again open up new latitudes in the inertial systems market .
Currently , predominant inertial technologies have little scope for change . The Micro Electro Mechanical Systems ( MEMS ) sensor based technology is set to replace them during the forecast period . With increasing error correction techniques and proven reliability credentials , MEMS is an affordable technology with the potential to increase performance ; thereby , taking inertial sensing to the next level .
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Primary drivers for this market are size reduction trends in the aviation industry , as well as requirements for increasing reliability and reduced complexity . The core challenge for the market is the reluctance of the civil aviation sector to adapt and embrace new technologies .
The vertical structure of the aviation industry leaves very little chance for adoption of advanced sensors . The lack of competition in the supply chain is another major hurdle .
The inertial systems market has been segmented by Type of Inertial Sensors ( GPS / INS , accelerometers , gyroscopes , and others ) Purpose ( navigational , tactical , industrial and others )
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Geography ( North America , Latin America , Europe , the Middle East & Africa and Asia-Pacific ) According to geographic divisions , the Americas are expected be the most significant business sectors , followed by Europe and Asia-Pacific . The North American market boasts of the finest inertial systems and leading manufacturers in the region , and is expected to be the driving factor for a leading position .
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