June 17, 2024

Inertial Measurement Unit Market Size to Rake USD 48.20 Bn by 2033

The global inertial measurement unit market size was estimated at USD 23.70 billion in 2023 and is predicted to reach around USD 48.20 billion by 2033, growing at a CAGR of 7.35% from 2024 to 2033.

Key Points

  • The North America inertial measurement unit market size reached USD 9.43 billion in 2023 and is expected to be worth around USD 19.18 billion by 2033
  • North America dominated the global inertial measurement unit market with a revenue share of 39.80% in 2023.
  • Asia Pacific is expected to experience the highest growth in the global market.
  • By component, the accelerometer segment has contributed highest revenue share of 46% in 2023.
  • By technology, the ring laser gyro segment held the largest market share in 2023.
  • By platform, the space segment held the largest market share in 2023.
  • By end use, the aerospace and defense segment dominated the market in 2023.

Inertial Measurement Unit Market Size 2024 to 2033

The Inertial Measurement Unit (IMU) market is witnessing significant growth driven by the rising demand for accurate navigation and positioning systems across various industries. IMUs are crucial components in navigation systems, providing precise data on acceleration, angular rate, and sometimes magnetic fields to determine an object’s orientation and movement.

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Growth Factors

Several factors contribute to the growth of the IMU market. Advancements in MEMS (Micro-Electro-Mechanical Systems) technology have led to the development of smaller, lighter, and more cost-effective IMUs, expanding their applications across industries such as automotive, aerospace, defense, and consumer electronics. Additionally, the increasing adoption of IMUs in unmanned aerial vehicles (UAVs) and autonomous vehicles is driving market growth.

Region Insights:

The IMU market is witnessing strong growth across regions, with North America and Europe leading in terms of market share due to the presence of key players, technological advancements, and high adoption rates in industries like aerospace and defense. Asia Pacific is also emerging as a significant market driven by increasing investments in defense and aerospace sectors, as well as the rapid expansion of the automotive and consumer electronics industries in countries like China, Japan, and South Korea.

Inertial Measurement Unit Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 7.35%
Global Market Size in 2023 USD 23.70 Billion
Global Market Size in 2024 USD 25.44 Billion
Global Market Size by 2033 USD 48.20 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Component, By Technology, By Platform, and By End-user
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Inertial Measurement Unit Market Dynamics

Drivers:

Key drivers fueling the growth of the IMU market include the growing demand for navigation and positioning systems in both commercial and defense applications, the rise in autonomous vehicles and UAVs, and the increasing adoption of wearable devices for fitness tracking and healthcare applications. Furthermore, the integration of IMUs with other sensors and technologies such as GPS and LiDAR is enhancing their capabilities and expanding their use cases.

Opportunities:

The IMU market presents numerous opportunities for growth, particularly in emerging applications such as augmented reality (AR), virtual reality (VR), and Internet of Things (IoT) devices. Additionally, the development of hybrid IMU systems combining MEMS-based sensors with fiber optic gyroscopes (FOGs) or ring laser gyroscopes (RLGs) offers opportunities for improved accuracy and performance in demanding applications.

Challenges:

Despite the promising growth prospects, the IMU market faces challenges such as intense competition among key players, particularly in the MEMS-based IMU segment, which puts pressure on pricing and profit margins. Moreover, ensuring high accuracy and reliability in harsh environments, such as high vibration or extreme temperatures, remains a challenge for IMU manufacturers.

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Recent Developments

  • In January 2022, EMCORE Corporation received a continuing development award from a U.S. contractor for finalizing the design and creating a method for manufacturing high-end inertial measurement units for tactical grade pods.
  • In May 2022, Emcore Corporation awarded new contracts for multistage space launch vehicle navigation grade and flight stabilization. The corporation finalized its purchase of L3 Harris Space and Navigation. The contract is part of the space launch vehicle Tri-Axial Inertial Measurement Unit (TAIMU) program.
  • In July 2022, Honeywell Technologies Inc. and Civitanavi Systems announced a collaboration to develop a new IMU for aerospace customers. The new HG2800 inertial measurement units are low-cost, low-power precision pointing solutions with device stabilization.
  • In November 2022, Collins Aerospace and China’s Hainan Airlines signed a FlightSense contract to deliver Hainan Airlines’ fleet of Boeing 787s with customizable support solutions to lessen repair time and costs. The contract with Hainan Airlines, which builds on a 30-year relationship between the two organizations, includes 185 aircraft on multi-platforms through 2025. Collins will assist in ensuring the availability of Hainan Airlines’ maintenance, repair, and overhaul (MRO) supply chain management.

Inertial Measurement Unit Market Companies

  • Honeywell International Inc.
  • Northrop Grumman Corporation
  • Bosch Sensortec GmbH
  • VectorNav Technologies, LLC
  • STMicroelectronics N.V.
  • Invensense, Inc.
  • Safran Group
  • Thales Group
  • Trimble Navigation Ltd.
  • Analog Devices, Inc.
  • KVH Industries, Inc.
  • Moog Inc.
  • Epson Europe Electronics GmbH
  • Gladiator Technologies, Inc.
  • Silicon Sensing Systems Ltd.
  • MEMSIC Inc.
  • Sagem (Safran Electronics & Defense)

Segments Covered in the Report

By Component

  • Accelerometers
  • Gyroscopes
  • Magnetometers

By Technology

  • Fiber optics Gyro
  • Mechanical Gyro
  • Ring laser Gyro
  • Mems
  • Others (vibrating gyro, hemispherical resonator gyro)

By Platform

  • Airborne
  • Ground
  • Maritime
  • Space

By End-user

  • Aerospace And Defense
  • Consumer Electronics
  • Marine
  • Automotive
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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