Jan 19, 2021   SOURCE: BusinessWire

North America Fiber Optic Gyroscope Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Sensing Axis, Device, and Application - ResearchAndMarkets.com

The "North America Fiber Optic Gyroscope Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Sensing Axis, Device, and Application" report has been added to ResearchAndMarkets.com's offering.

North America Fiber Optic Gyroscope Market is expected to reach US$ 489.88 million by 2027 from US$ 339.04 million in 2019. The market is estimated to grow at a CAGR of 4.9% from 2020 to 2027.

The report provides trends prevailing in the North America fiber optic gyroscope market along with the drivers and restraints pertaining to the market growth. Increasing defense spending and growing aviation industry is the major factor driving the growth of the North America fiber optic gyroscope market. However, issues associated with abundant availability of other options hinders the growth of North America fiber optic gyroscope market.

Also the ongoing COVID-19 is having a very devastating impact over the North America region. North America held the largest share of fiber optic gyroscope market owing to the presence of country such as the US, where investments and expenditure on military sector is quite high. Additionally, the presence of some of the largest fiber optic gyroscope systems manufacturers, military equipment manufacturers, and aircraft manufactures in the region are contributing to the growth of fiber optic gyroscope market.

Hence, North America is one of the most important regions for the growth and demand of fiber optic gyroscope devices owing to favorable government policies to boost military sector and presence of huge military base, especially in developed countries such as the US and Canada. Hence, any impact on the growth of these sectors is expected to affect the economic growth of the region in a negative manner including North America fiber optic gyroscope market.

At present, the US is the worst affected country due to COVID-19 outbreak. The US is one of the largest markets for fiber optic gyroscope especially in military sector owing to stringent government/industry regulations regarding safety standards and growing number of attacks. The unprecedented increase in the number of confirmed cases and rising reported deaths in the country is affecting both supply and demand of fiber optic gyroscope equipment due to supply chain disruptions across the region.

The ongoing slump in commercial infrastructure development activities and new defense projects across the US, Canada, and Mexico is impacting the demand of fiber optic gyroscope in respective countries. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the fiber optic gyroscope market growth in North America region in a negative manner for the next few quarters.

Cielo Inertial Solutions Ltd.; Emcore Corporation; ixblue; Honeywell International Inc; KVH Industries, Inc.; Safran Colibrys SA are among the leading companies in the North America fiber optic gyroscope market.

The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

Key Topics Covered:

1. Introduction

1.1 Scope of The Study

1.2 Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

4. North America Fiber Optic Gyroscope Market Landscape

4.1 Market Overview

4.2 North America PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. North America Fiber Optic Gyroscope -Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Defense Spending and Growing Aviation Industry

5.1.2 Fiber Optic Gyroscopes Witnessing High Demand Among Various Industrial Applications

5.2 Market Restraints

5.2.1 Alternative Options Available

5.3 Market Opportunities

5.3.1 High Demand Opportunities in Developing Regions

5.4 Future Trends

5.4.1 Remotely Operated Vehicles Witnessing Acceptance

5.5 Impact Analysis of Drivers and Restraints

6. Fiber Optic Gyroscope Market - North America Analysis

6.1 North America Fiber Optic Gyroscope Market Overview

6.2 North America Fiber Optic Gyroscope Market - Revenue and Forecast to 2027 (US$ Million)

6.3 Market Positioning - Five Key Players

7. North America Fiber Optic Gyroscope Market Analysis by Sensing Axis

7.1 Overview

7.2 North America Fiber Optic Gyroscope Market, by Sensing Axis (2019 and 2027)

7.3 1-Axis

7.4 2-Axis

7.5 3-Axis

8. North America Fiber Optic Gyroscope Market Analysis by Device

8.1 Overview

8.2 North America Fiber Optic Gyroscope Market, by Device (2019 and 2027)

8.3 Gyrocompass

8.4 Inertial Measurement Unit

8.5 Inertial Navigation System

8.6 Attitude Heading Reference System

9. North America Fiber Optic Gyroscope Market Analysis by Application

9.1 Overview

9.2 North America Fiber Optic Gyroscope Market, by Application (2019 and 2027)

9.3 Remotely Operated Vehicle Guidance

9.4 Aeronautics and Aviation

9.5 Robotics

9.6 Industrial

9.7 Defense and Homeland Security

9.8 Tactical Grade Applications

10. North America Fiber Optic Gyroscope Market - Country Analysis

10.1 Overview

11. North America Fiber Optic Gyroscope Market- COVID-19 Impact Analysis

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 New Development

13. Company Profiles

  • Cielo Inertial Solutions Ltd.
  • Emcore Corporation
  • ixblue
  • Honeywell International Inc
  • KVH Industries, Inc.
  • Safran Colibrys SA

For more information about this report visit https://www.researchandmarkets.com/r/8jlw8y