Mar 23, 2022   SOURCE: BusinessWire

Global Inertial Navigation Systems Market to 2028 - Featuring Parker Hannifin, General Electric and Safran Among Others - ResearchAndMarkets.com

The "Inertial Navigation Systems Market - Market Size & Forecasting (2017-2028)" report has been added to ResearchAndMarkets.com's offering.

The inertial navigation system market was estimated to be USD 5,119.97 million in 2020 and is projected to register a CAGR of 4.9% to reach USD 7,525.75 million by 2028.

North America is projected to be a major market for inertial navigation systems due to a growth in passenger air traffic and technological advancement by various regional research and development companies. The Federal Aviation Administration's (FAA) favourable regulations allow vendors to grow and develop plans to enhance their product portfolios.

On the other hand, the Asia Pacific region is projected to register higher growth rate during the forecast period. The emergence of key aircraft manufacturers, such as COMAC (China) and Mitsubishi Aircraft Corporation (Japan) in Asia Pacific region are propelling the growth of this regional market. Also, the defense sector is estimated to experience tremendous growth in the Asia Pacific region with increasing concentration of developing economies.

A large percent of budget spending in some of Asia Pacific countries including China and India goes into defense expenditures. Many countries are investing heavily to strengthen their aerial defense. In addition, there has been increased investments by key market players to consolidate their market position in this region through contracts and strategic partnerships.

This research report categorizes the market for inertial navigation systems based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the inertial navigation systems market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the inertial navigation systems market. The report strategically identifies and profiles the key market players and analyses their core competencies in each type and application of the inertial navigation systems market.

Key Questions Answered

  • How the inertial navigation systems market is evolving?
  • What is driving and restraining inertial navigation systems dynamics?
  • How will each inertial navigation systems submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
  • How will market shares of each inertial navigation systems submarket develop from 2017-2028?
  • Which inertial navigation system submarket will be the main driver of the overall market from 2017-2028?
  • How will political and regulatory factors influence regional inertial navigation systems markets and submarkets?
  • Will leading national inertial navigation systems broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
  • How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
  • Who are the leading players and what are their prospects over the forecast period?
  • How will the sector evolve as alliances form during the period between 2017 and 2028?

Market Dynamics

Drivers

  • Increased Demand for Accuracy in Navigation
  • Increasing Demand for Aircraft

Restraints

  • Decline in Defense Budgets of Developed Countries
  • High Production Cost

Opportunities

  • Emerging Economies

Challenges

  • Error Propagation

Companies Mentioned

  • Parker Hannifin Corp
  • Raytheon Technologies Corporation
  • General Electric Company
  • Trimble Inc.
  • L3Harris Technologies Inc.
  • Safran
  • Collins Aerospace
  • Honeywell International Inc.
  • Northrop Grumman Corporation
  • Thales Group
  • Garmin Ltd
  • Gladiator Technologies
  • Avidyne Corporation
  • Jeppesen
  • Dynon Avionics
  • Becker Avionics Inc.
  • Uavionix
  • Vectronav Technologies
  • Aspen Avionics
  • Universal Avionics
  • Emcore Corporation
  • Lord Microstrain

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