A Quick Overview of Gyroscope Market
The key object of this report on the Gyroscope Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.
MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Gyroscope Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.
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Gyroscope Market Scenario:
The Global Gyroscope Market is projected to grow at a CAGR of around 5.43% during the forecast period, i.e., 2023-28, due to its consistent installations in various end-user industries such as aerospace, defense, marine, consumer electronics, automotive, etc. The large-scale investments in the aerospace & defense industry, such as the manufacturing & development of military & commercial aircraft in North America, Europe, Asia-Pacific, and others, have been necessitating the demand for various types of gyroscopes. Additionally, the increasing demand for efficient & highly advanced inertial navigation systems in all types of aircraft has been facilitating the implementation of these devices as they improve the performance & accuracy of onboard navigation systems.
Gyroscope Market - Industry Dynamics, Size, And Opportunity Forecast To 2028:
Market Driver - Surging Investments in Military Aircraft Manufacturing to Fuel the Market Growth
The rising geopolitical tension worldwide, like the dispute between the nations such as China, India, Pakistan, Russia, Ukraine, etc., has created a noticeable demand for military aircraft, boosting the Global Gyroscope market over the last few years. As, these devices have been considered an integral part of aircraft due to their variable functionalities, such as providing reliable solutions for military aircraft navigation purposes.
Gyroscopes are currently used in the military and other types of airplanes as part of inertial navigation systems in order to calculate the aircraft's position even when GPS signals are not available. Several governments of the region, like North America, Europe, Asia-Pacific, etc., announced investments for the procurement of military aircraft, which is further anticipated to upscale the demand for gyroscopes from 2023 to 2028. For instance:
- In 2022, Airbus Defence and Space & TATA Advanced Systems Limited collaborated to manufacture the C-295 military transport aircraft in India for an Indian military base by making an investment of nearly USD2.65 billion.
Accordingly, the geopolitical tension between the countries has expanded the commercial sale & manufacturing of military aircraft. This, in turn, is further expected to fuel the demand for different types of these devices, including MEMS gyroscopes, laser gyroscopes, etc., in the forecast years.
Gyroscope Market Segmentation Analysis:
Gyroscope Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:
By Product Type
- MEMS Gyroscope
- Fibre Optic Gyroscope
- Ring Laser Gyroscope
- Hemispherical Resonating Gyroscope
- Dynamically Tuned Gyroscope
- Others
By End Users
- Consumer Electronics
- Aerospace & Defense
- Industrial Manufacturing
- Automotive
- Marine
- Mining
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia Pacific.
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Who are the Key Market Players in the Gyroscope Market?
In the fast-changing Gyroscope Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Gyroscope market ruling the industry are:
List of Key Companies Profiled:
- Honeywell International, Inc.
- Robert Bosch GmbH
- Analog Devices, Inc.
- Trimble, Inc.
- Murata Manufacturing Co., Ltd.
- Silicon Sensing Systems Limited
- STMicroelectronics
- TDK Corporation
- NXP Semiconductors.
- Epson America, Inc.
- InnaLabs
- MEMSIC Semiconductor Co., Ltd.
- EMCORE Corporation.
- VectorNav
- Others (Safran Sensing Technologies Switzerland SA, etc.).
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