Fiber Optics Gyroscope Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Fiber Optics Gyroscope Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Fiber Optics Gyroscope Market: Overview

A fiber optic gyroscope (FOG) helps in sensing the orientation of an object and provides very precise rotational rate information. Since fiber optic gyroscope doesn’t rely on inertial resistance to movement and has no moving parts, it has quickly become a dependable option over mechanical gyroscope such as the classic spinning-mass gyroscope. Fiber optic gyroscope finds application in the inertial navigation systems of guided missiles, autonomous underwater vehicles, remotely operated vehicles, and surveying. With increasing security issues across the world, several countries have extended their defense budgets, which is projected to escalated the demand in the global fiber optics gyroscope market and expand it at a healthy CAGR during the forecast period of 2017 to 2025. 

Global Fiber Optics Gyroscope Market: Key Trends

Apart from increased defense budget in several developed and developing economies, the growing adoption of automation in homes and industries is the primary factors that is positively influencing the demand for fiber optics gyroscope during the forecast period. For satellite antenna positioning, navigation, and other applications, the demand for equipment optimized with intelligent sensors is escalating. Growing popularity and development of the concept of remotely operated vehicles and the use of FOG for measurement while drilling processes in the oil industry is another factors augmenting the demand in this market. 

A few major applications of fiber optics gyroscope in the defense sector are dynamic global positioning system (GPS) tracking, missiles flight control, dynamic platform stabilization, ground detection, environmental observation, security, guided ammunition, and earth observation. Conversely, complexity and time constraints pertaining to the manufacturing process is challenging the market from attaining its full potential. High investment required for research and development as well as low cost-benefit ratio are other two factors challenging the growth rate of the global market for fiber optics gyroscope. 

Global Fiber Optics Gyroscope Market: Market Potential

Out of various product segments of the market including attitude heading reference system, gyrocompass, inertial measurement unit, and inertial navigation system, the latter segment is most profitable. This is because inertial navigation system a commercial control solution that is reliably accurate and can be customized to a large variety of autonomous and manned or unmanned marine, aerial, and ground applications. This commercialization of FOG is anticipated open new opportunities for the players in the global market for fiber optics gyroscope. 

Global Fiber Optics Gyroscope Market: Regional Outlook

North America currently is the most important region for the players in this market, with technologically advanced country of the U.S. serving most of the demand from the region with vast defense budget and growing popularity of home automation. However, Asia Pacific is projected to expand at the most prominent growth rate during the forecast period, primarily gaining from several emerging economies who have extended their defense budget. China and Japan are two most lucrative country-wide markets for FOG in Asia Pacific. Large population base, rapid industrialization, increased number of R&D activities, and high investment for the development of sensors are some factors driving the demand from Asia Pacific region. 

Global Fiber Optics Gyroscope Market: Competitive Analysis

Honeywell International Inc., EMCORE Corporation, Colibrys Ltd., Northrop Grumman LITEF GmbH, KVH Industries, Inc., Nedaero Components, Fizoptika Corp., iXBlue SAS, Al Cielo Inertial Solutions Ltd., and Optolink LLC are some of the leading companies in the global fiber optics gyroscope market. Product innovation is the primary strategy adopted by these players in order to serve their clients as well as stretch their geographical outreach.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?