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The Inertial Sensor is a measurement unit which measures velocity, gravitational force and orientation of a moving object. These include airplanes, missiles, drones, ships and underwater vehicles. This system is used extensively for its artificial intelligence to reach location without any static or digital interference. The market has been witnessing aggressive growth from aerospace, commercial and military sectors of emerging nations in Asia pacific regions. Technological advancements made the systems cheaper and more accurate in terms of results which are the key-factor for the growth in the market.
The Inertial sensor uses multiple components like gyroscopes, accelerometers, GPS and encoders. Events and changes in the inertial sensor market hence directly affect all the above markets. The global market is expected to grow at 10.5% CAGR for the next 5 years. The current market size of around $6.2bn is expected to increase to $8.5bn by 2018.
Inertial measurement units (IMUs), Inertial Navigation Systems (INUs) are the primary end products where these components are used. The demand for Inertial Sensor is growing at a steady pace across the globe. Advancements in the equipment used in making Inertial Sensors made it cheaper, affordable and margin for error has been minimized significantly. Its ability to work underwater has given it a market in Navy and has grown its commercial market in water navigation. The major players like Trimble and Kongsberg are increasing the production of Inertial Sensors to meet the demand and competition.
The rapid growth in the Inertial Sensor market has a direct impact on the market of its components like accelerometers, gyroscopes, GPS and encoders. The Inertial MEMS market has forecast of 8-10% CAGR in the next 5 years. Accelerometer and gyroscope market investments are growing at a very fast pace due to increase in the demand for the Inertial Sensors. The potential market growth for GPS is between 4-6% between the same period.