Report : Europe Inertial Sensors for Land Defense Market Forecast to 2030 - Regional Analysis - by Technology (FOG, MEMS, and Others) and Application (Stabilization Missile Systems, Stabilization Turret-Cannon Systems, Land Navigation Including Land Survey, Missile GGM-SSM, Stabilization Active Protection System, Stabilization of Optronics System, and Others)
At 5.4% CAGR, Europe Inertial Sensors for Land Defense System Market is Speculated to be Worth US$ 376.07 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe inertial sensors for land defense system market was valued at US$ 246.78 million in 2022 and is expected to reach US$ 376.07 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Rise in government initiatives and emphasis on weapon system reliability are among the critical factors attributed to drive the Europe inertial sensors for land defense system market growth.
Unmanned vehicles, including unmanned ground vehicles (UGVs), unmanned aerial vehicles (UAVs), and unmanned underwater vehicles (UUVs), have become essential in defense operations due to their ability to reduce risks to human personnel, enhance situational awareness, and increase operational capabilities. Recognizing the potential of unmanned vehicles, governments of several countries across the globe are actively taking measures to incorporate them into their defense strategies. With funding from DARPA, Honeywell has made significant progress in the development of these sensors. Recent findings from Honeywell labs have demonstrated that the new sensors exhibit significantly higher levels of accuracy compared to Honeywell's current tactical-grade product, the HG1930 inertial measurement unit (IMU), which was widely deployed with over 150,000 units in use. This breakthrough in sensor technology holds great promise for enhancing navigation capabilities in various industries, including both commercial and defense sectors. The remarkable accuracy achieved by these sensors compared to their predecessors holds great promise for improving land defense systems and various other industries that rely on precise motion sensing, which is further boosting the inertial sensors for land defense system market growth.
On the flip side, technological limitations hamper the growth of Europe inertial sensors for land defense system market.
Based on technology, the Europe inertial sensors for land defense system market is categorized into FOG, MEMS, and others. The FOG segment held 51.3% market share in 2022, amassing US$ 126.70 million. It is projected to garner US$ 201.31 million by 2030 to register 6.0% CAGR during 2022-2030.
In terms of application, the Europe inertial sensors for land defense system market is segmented into stabilization missile systems, stabilization turret/ cannon systems, land navigation including land survey, missile GGM/ SSM, stabilization active protection systems, stabilization of optronic systems, and others. The stabilization missile systems segment held 29.0% share of Europe inertial sensors for land defense system market in 2022, amassing US$ 71.58 million. It is anticipated to garner US$ 109.90 million by 2030 to expand at 5.5% CAGR during 2022-2030.
Based on country, the Europe inertial sensors for land defense system market is categorized into the UK, France, Russia, Germany, Italy, and the Rest of Europe. Our regional analysis states that the UK captured 29.0% share of Europe inertial sensors for land defense system market in 2022. It was assessed at US$ 71.44 million in 2022 and is likely to hit US$ 121.04 million by 2030, registering a CAGR of 6.8% during 2022-2030.
Key players operating in the Europe inertial sensors for land defense system market are Collins Aerospace, Advanced Navigation Pty Ltd, Honeywell International Inc, Aeron Systems Pvt Ltd, Northrop Grumman Corp, SBG Systems SAS, Thales SA, Emcore Corp, and Exail SAS, among others.
- In May 2023, SBG Systems has recently introduced Ekinox Micro, a state-of-the-art compact GNSS-aided inertial navigation solution specifically designed for mission-critical applications. This cutting-edge technology is characterized by its miniature size and exceptional performance, making it an ideal choice for demanding scenarios where precise and reliable navigation is crucial. By integrating high-performance GNSS and inertial sensors, Ekinox Micro offers unparalleled accuracy and stability, ensuring optimal navigation performance even in challenging environments.
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