The Global Inertial Systems in Defense 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 . In 2013 , the Worlds military spending as a percentage of GDP was 2.34 %. Global spending on military in 2013 was more than 1500 billion dollars . This is a huge investment into weapons . Guided missiles , submarines , tanks , fighter jets etc . are all part of this huge defence spending . Inertial Navigation System is a key component in all of the above mentioned military equipment . So as the defence budgets keep increasing across the world , the demand for inertial systems will keep increasing .
Inertial system equipment includes Gyroscopes , Accelerometers , Inertial Measurement Units , Inertial Navigation Systems and Multi Axis sensors .
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The increasing modernization of weaponry with the advent of smart weapons and advanced tanks is also a key driver for the market with inertial sensors being the major component of the technology being incorporated in the control of these devices . The amount of money spent on defence R & D is much more than for civilian applications , and is enabling rapid growth in this segment .
An extensive overview of the different grades of inertial sensors ; Navigational , Tactical , Industrial and Automotive is also given . The key differences among them are explained and their market based on application is provided on a regional basis . The major applications include Missile Guidance , Control and Targeting , Precision Guided Munitions , Tank Turret Stabilization and Torpedo Guidance .
An analysis of the key players in the market has been provided with an outlook on the competitive landscape and an insightful outlook for the investors .
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What the Report Offers : 1 . Market Definition for the Inertial Systems Market in the Defence Industry along with identification of key drivers and restraints for the market .
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