Global High-Performance Inertial Measurement Unit (IMU) Market - Segmented by Application (Marine, Aerospace and Defense, Automotive) and Region - Growth, Trends, and Forecast (2022 - 2030)

The IMU market was valued at USD 3.18 billion in 2017, and is expected to reach USD 4.33 billion by 2023, at a CAGR of 5.31% over the forecast period (2018-2023). The scope of the report includes insights on the solutions offered by major players, including providers of hardware, professional services, and integration solutions. The scope also considers application in aerospace & defense, industrial, automotive, and marine. The regions considered include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Commercial Aerospace Sector is Driving High-end IMU Demand

Boeing’s recent aerospace study revealed that over the next two decades, there would be a demand for more than 40,000 new aircraft across the world; the net market value is estimated to be more than USD 6 trillion. The growing demand for aircraft fleet is a direct trigger for high-performance IMUs.

United States to Register the Largest Market Over the Forecast Period

In North America, the United States contributes the highest market share for high-performance IMUs, as the country’s total spending on aerospace and defense is very high as compared to the world.

The United States’ military spending is higher than the next nine countries combined. The high expenditure in R&D helps the country keep itself ahead of its competitors in the aerospace and defense segment.

Growing Number of Commercial UAVs Adoption in the United States

In December 2015, the Federal Aviation Administration(FAA) issued a rule requiring all UAS weighing more than 250g and less than 250kg to be registered using a new online system.

By December 31, 2016, 626,245 owner-hobbyists had registered. For the entire online registration period, up to the first week of February 2017, the cumulative registration trend has been one of growth, with the trend slowing over time. FAA predicts that the hobbyist fleet is likely to more than triple in size over the next 5 years, from 1.1 million units in 2016 to 3.5 million units by 2021.

Key Developments in the Market

•January 2018 - At the Consumer electronics show in the United States, Bosch Sensortec launched the MEMS sensor BMI088, a high-performance IMU with outstanding vibration robustness, which is in demand for drone and robotic applications.
•December 2017 - Honeywell has announced its new offering; the HG4930 IMU applies the principles of reliability and dependability, and performance from aerospace & defense applications has expanded its span to industrial applications. These applications include autonomous vehicles, surveying and mapping, ground and underwater robotics, and unmanned aerial vehicles (UAV) gimbal stabilization.
•May 2017 - VectorNav technologies announced at AUVSI's Xponential that it would supply its VN-100 inertial measurement unit to Neya Systems for a custom version of that company's UxAB module. Neya Systems will, in turn, deliver its custom version of UxAB platform to Northrop Grumman for that company's Advance Explosive Ordnance Disposal Robotic System (AEODRS), an autonomous disposable robot to the US military.

The major players include - HONEYWELL CORPORATION, NORTHROP GRUMMAN CORPORATION, BOSCH SENSORTEC GMBH, and ANALOG DEVICES, INC., amongst others.

Reasons to Purchase the Report

•Current and future global IMU market analysis
•Performance of various segments in the market
•Analyzing different perspectives of the market with the help of Porter’s five forces analysis
•Segments and sub-segments expected to dominate the market
•Regions expected to witness expedited growth during the forecast period
•Latest developments, market shares, and strategies employed by the major market players
•3 month analyst support, along with the Market Estimate sheet (in Excel)

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