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Inertial measurement unit market to hit $3.37B by 2020

10 Apr 2015

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Inertial measurement unit (IMU) market, which was valued at $2.14 billion in 2014, is expected to reach $3.37 billion by 2020, logging a CAGR of 7.87 per cent throughout the forecast period, according to a new MarketsandMarkets report.

For commercial application, the increase in passenger travel demand in countries such as India, China, the Middle East and other Asia-Pacific countries is the reason for growth in the aircraft market. As IMU is one of the necessities in every aircraft for efficient navigation as it is a prime component of INS, its market is growing with the market for aircraft. The demand for IMU is also increasing due to advancement in technology; high availability of low cost MEMS gyros have made it cheaper, compact and affordable. The integration of GPS with INS has become more common in aviation.

Of the regions considered for IMU market, North America contributes the largest portion of the market share of the total market. Advancement in MEMS technology and growing demand for commercial aircraft and business jets are important factors that are responsible for driving this market in this region.

The rise in research, procurement and use of unmanned underwater vehicles (UUVs) over the past decade has seen significant advances made in the range of UUV payloads including IMU and subsystems. UUVs are rapidly emerging as the platforms of choice for many military and commercial applications; including mine countermeasures and reconnaissance. Such type of application has a great potential for the growth of IMU market.

The industry is witnessing new entrants from emerging economies in the MEMS and FOG segment. These, in turn, are acting as a boon for IMU component manufacturers. The manufacturers are focused on the development of more advanced silicon or quartz MEMS technology as it could provide phenomenal performance in the same package with bias <1 degree/hour. This would be beneficial for commercial and industrial applications such as pipeline inspection, mine hunting, unmanned aircraft surveillance, guided missiles, business jets and other commercial aircrafts.

The leading players in IMU market include Northrop Grumman Corp. (U.S.), Honeywell International Inc. (U.S.), Thales (France) and Sagem (France), however, Moog Inc. (U.S.), Rockwell Collins (U.S.), VectorNav Technologies (U.S.), Systron Donner Inertial (U.S.), SBG systems (U.S.) and KVH Industries (U.S.) are other prominent players in this market.

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