Inertial Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 -Posted by Statzy Market Research on April 5th, 2021 - The emergence of Micro Electro Mechanical Systems (MEMS) technology resulted in miniaturization of mechanical and electro-mechanical elements in the field of sensors and semiconductors through the use of micro-fabrication and micro-machining techniques. Hence, MEMS have now become an indisputable part of the future navigation systems and thus increasing the inertial systems market growth. - Additionally, high-end inertial systems are comprised of IMU’s with high-performance sensors (gyroscopes, magnetometers, accelerometers), which provide high accuracy information about the surrounding environment through relative movement. Hence, the need for higher accuracy in the navigation systems is increasing, thus increasing the demand for advanced inertial systems. - However, the large scale adoption of inertial systems was significantly constrained by large size and exorbitant costs. Also, the integration drift error in the navigation system is expected to pose challenges in the growth of inertial systems market. - The increasing modernization of weaponry with the advent of smart weapons and advanced tanks is also a key driver for the market. The amount of money spent on defense R&D is much more than that for civilian applications, hence is enabling rapid growth in this segment. - Further, the increasing defense spending across various countries, coupled with government initiatives to establish a cutting-edge defense weapon platform by acquiring latest technologies, such as precision striking, defense electronics, and critical infrastructure protection, is also expected to drive the market significantly. - For instance, in 2017, the US Navy created its dedicated underwater drone unit, Unmanned Undersea Vehicle Squadron One, or UUVRON 1, splitting it off from a secretive submarine unit in the process. To support its activities, the United States allocates the maximum budget for the defense sector. In 2018, the US defense spending was around USD 700 billion. - Moreover, the rising number of unmanned aerial vehicles along with rising defense spending are the key reasons for the high adoption of these systems in the United States. Besides, under the US Defense Advanced Research Projects Agency (DARPA) program, in order to provide the US Navy with advanced new tools to expand the reach and effectiveness of its underwater sensors, the US defense sector invested in the development of small unmanned underwater vehicle (UUV) to help US submarines detect and engage adversary submarines. Hence, government initiatives and spending on R&D is expected to stimulate the growth of the market in the region further. For more sample reports please visit :- https://www.statzyreports.com/report/sr497091/inertial-systems-market - May 2019 - Northrop Grumman Corporation has released SeaFIND (Sea Fiber Optic Inertial Navigation with Data Distribution), a next generation maritime inertial navigation system succeeding the company’s MK-39 Mod 3 and 4 series Inertial Navigation System product line. For sample report please visit : https://www.statzyreports.com/report/sr497091/inertial-systems-market Contact Us: Like it? Share it! More by this author |