250 Pages Fiber Optic Gyroscope Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
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The report offers actionable and valuable market insights of Fiber Optic Gyroscope. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Fiber Optic Gyroscope Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Fiber Optic Gyroscope market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Fiber Optic Gyroscope
This newly published and insightful report sheds light on Market Insights of Fiber Optic Gyroscope, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Fiber Optic Gyroscope Market.
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Fiber Optic Gyroscope Market by Category
Sensing Axis
- 1-Axis
- 2-Axis
- 3-Axis
Device
- Gyrocompasses
- Inertial Measurement Units
- Inertial Navigation Systems
- Others
Vertical
- Aerospace and Defense
- Automotive
- Robotics
- Mining
- Healthcare
- Transportation & Logistics
- Other Industrial
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excl. Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
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Competitive Landscape
The fiber optic gyroscope market has major players such as Honeywell International, Inc., Nedaero Components, Northrop Grumman Litef GmbH, and Optolink LLC, focusing on supplying fiber optic gyroscopes that are suitable for the aerospace and defense industry.
Growth dynamics of the aerospace and defense industry are likely to have a significant impact on the manufacturing strategies of market players and the competitive environment in the fiber optic gyroscope market over the coming years.
- EMCORE Corporation introduced its EN-150 Inertial Measurement/Navigation Unit, which is highly suitable for dismounted soldiers and weaponry, platform stabilization, and unmanned aerial vehicles where is GPS is not available. It replaces Ring Laser Inertial Measurement Units (IMU) with smaller size and high-performance fiber optic gyroscope-based inertial measurement.
- Another player in the fiber optic gyroscope market, KVH Industries, Inc., recently launched its new fiber-optic gyroscope-based IMU with a 25g accelerometer. This new IMU is designed for dynamic applications with high levels of shock, vibration, and acceleration. Furthermore, the company collaborated with VectorNav Technologies LLC, a provider of embedded navigation solution, to combine the reliability and precision of KVH’s fiber optic gyroscope-based IMUs with high-performance navigation systems by VectorNav to capitalize on a wide range of its industrial applications.
Key Takeaways from Market Study
- Fiber optic gyroscopes are typically used for aerospace- and defence-related applications; however, their usage in automotive is also increasing.
- 3-Axis fiber optic gyroscopes account for 48% of sales, and are further expected to grow by 252 BPS over the forecast period.
- The Asia Pacific region, including East Asia, South Asia, and Oceania, accounts for around 27% of global shipments. Asia Pacific is expected to offer around US$ 218 Mn absolute dollar opportunity over the next ten years.
- The global market is moderately concentrated in nature. Around 45% of sales are held by tier-1 companies, including Honeywell International Inc. and Northrop Grumman LITEF GmbH.
- By device, inertial navigation systems hold over 40% of overall market share.
- Automotive and transportation & logistics accounts for over 14% of overall demand.
- The FOG market in China and ASEAN is projected to expand at a CAGR of around 7% through 2031, while that in Japan and Australia at 6%.
“Manufacturers building fiber optic gyroscopes for specific applications are expected to witness increase in their shares than those companies offering generalised products,”
says a Fact.MR analyst.
Winning Strategy
Sales of inertial navigation systems are growing fast, as these systems are commercial off-the-shelf navigation and control solutions, finding application in many fields. To utilise the demand gap, key manufacturers of fiber optic gyroscopes are excessively spending on R&D to improve the functionality of their products.
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More Valuable Insights on Fiber Optic Gyroscope Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Fiber Optic Gyroscope, Sales and Demand of Fiber Optic Gyroscope, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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