Fiber Optic Gyroscope Market size is projected to reach USD 1011.86 Mn. at the end of the forecast period at a CAGR of 3.6%.Fiber Optic Gyroscope Market Introduction
The gyroscope is a gadget that detects direction. The sagnac effect is used to detect rotation in a fiber optic gyroscope. These items are utilized in a variety of remote-controlled vehicles, as well as aviation and industrial applications. Fiber optic gyroscopes are also a useful tool for determining angular velocity. The fiber optics gyroscope's downsizing and compact design aids in its successful integration into many types of military equipment. This has significantly driven market growth in the global Fiber Optic Gyroscope market. The growing need for remotely operated vehicles is expected to have an impact on fiber optics gyroscope demand in the near future.To know about the Research Methodology :- Request Free Sample Report
Fiber Optic Gyroscope Market Dynamics
The fast uptake of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sectors has been identified as a key market driver. According to the Federal Aviation Administration, there were 1.1 million small hobbyist drones registered in the United States in 2021. (FAA). In 2021, there were roughly 412,000 commercial drone registrations. Increased defense expenditure in various emerging and developed nations, as well as the increasing usage of automation in companies and households, are major factors that positively affect the fiber optics gyroscope (FOG) market. For example, the United States spent around 718.69 billion dollars on its military in 2021. This was an increase from the year 2000, when military expenditures in the United States was USD 466.76 billion. Israel has been at the forefront of military application development for many years. With Tel Aviv-based Airobotics, Israeli drone firms are also paving the way for autonomous solutions for businesses, strengthening the fiber optic gyroscope industry. The fiber optic gyroscope, which is used for measurement reasons during drilling procedures in the oil industry, as well as the expanding recognition and development of remotely operated vehicles are also driving the market forward. Although there is substantial demand for fiber optics gyroscope in the market, a sophisticated, expensive, and time-consuming production process is a key limiting factor that restricts the use of fiber optics gyroscope and so limits its market growth.Fiber Optic Gyroscope Market Segment Analysis
The defense sector has remained one of the largest end-users of fiber optic gyroscopes due to their widespread usage in military applications such as missile flight control, ground detection, and dynamic Global Positioning System (GPS) tracking. This, along with rising defense spending, such as in the United States and Europe are expected to continue to drive up demand. UAVs may carry out a wide range of tasks for military and intelligence objectives, as well as a number of civic objectives. This technology is utilized to detect motion in a variety of aircraft applications, including angle, velocity, and speed. Such advantageous characteristics and growing applications generate market demand, which is predicted to propel the Fiber Optics Gyroscope market forward. The defense services are expected to have a large demand for tiny UAVs in the next years. For example, the IAF is currently collaborating with an Israeli firm to upgrade the UAVs of the three services as part of a project worth over Rs 5,000 crore to improve their snooping capabilities; as a result, the IAF will be able to control and operate these aircraft from afar using the satellite communication system. The industry delivers attractive prospects for industry vendors as a result of rising investments in the aerospace and military industry, hence increasing growth. According to Issuu, Inc., worldwide R&D expenditures in the aerospace and military sector is expected to reach USD 32 billion in 2021. The 3-Axis Segment is expected to grow at a growth rate of 3.7% during the forecast period. The US, Canada, Japan, China, and Europe are expected to fuel the global 3-Axis segment's 3.8% CAGR. By the end of the analysis period, these regional markets, which had a combined market value of US$430.8 million in 2021, and are expected to grow to US$563.8 million. In this group of regional markets, China is expected to continue to be one of the fastest-growing. The Asia-Pacific market is expected to reach US$127.6 million by 2029, led by nations like Australia, India, and South Korea.Fiber Optic Gyroscope Market Regional Insights
A Significant Growth Rate is expected in Asia-Pacific Due to several rising economies increasing their military budgets, Asia Pacific is expected to see significant market growth in the future years. In Asia Pacific area, China, and Japan are two rising countries with high demand for fiber optic gyroscopes. A large population base, increased number of R&D activities, increasing industrialization, and high expenditure for sensor enhancement are all elements that contribute to this growth. Furthermore, because Japan is recognized for being a manufacturing powerhouse for the car industry, the new development strategy for autonomous vehicles is resulting in the use of fiber-optic gyroscopes. Furthermore, increased regulatory enforcement by countries such as China, Japan, and South Korea has encouraged businesses to invest. As a result, end-user companies are willing to invest in the measurement of orientation in a variety of device monitoring systems in order to ensure their safety, resulting in market growth.Fiber Optic Gyroscope Market Scope: Inquire before buying
Fiber Optic Gyroscope Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 762.50 Mn. Forecast Period 2022 to 2029 CAGR: 3.6% Market Size in 2029: US $ 1011.86 Mn. Segments Covered: by Sensing Axis • 1-axis • 2-axis • 3-axis by Device • Gyrocompass • Inertial Measurement Unit • Inertial Navigation System • Attitude Heading Reference System by Application • Tactical Grade Applications • Aerospace and Defense • Aeronautics And Aviation • Robotics Fiber Optic Gyroscope Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Fiber Optic Gyroscope Market, Key Players are:
• EMCORE • KVH Industries • Honeywell International • Inc., Nedaero Components • Northrop Grumman Litef GmbH • Optolink LLC • Advanced Navigation • Cielo inertial Solutions Ltd. • iXblue • FIZOPTIKA • Honeywell International Inc. • Safran S.A • Colibrys Ltd • Luna Innovations • Nyfors Teknologi • Saab • Furukawa (OFS) Frequently Asked Questions: 1. Which region has the largest share in Global Fiber Optic Gyroscope Market? Ans: Asia Pacific region held the highest share in 2021. 2. What is the growth rate of Global Fiber Optic Gyroscope Market? Ans: The Global Fiber Optic Gyroscope Market is growing at a CAGR of 3.6% during forecasting period 2022-2029. 3. What is scope of the Global Fiber Optic Gyroscope Market report? Ans: Global Fiber Optic Gyroscope Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Fiber Optic Gyroscope Market? Ans: The important key players in the Global Fiber Optic Gyroscope Market are – EMCORE, KVH Industries, Honeywell International, Inc., Nedaero Components, Northrop Grumman Litef GmbH, Optolink LLC, Advanced Navigation, Cielo inertial Solutions Ltd., iXblue, FIZOPTIKA, Honeywell International Inc., Safran S.A, Colibrys Ltd, Luna Innovations, Nyfors Teknologi, Saab, and Furukawa (OFS) 5. What is the study period of this Market? Ans: The Global Fiber Optic Gyroscope Market is studied from 2021 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Fiber Optic Gyroscope Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Fiber Optic Gyroscope Market 3.4. Geographical Snapshot of the Fiber Optic Gyroscope Market, By Manufacturer share 4. Global Fiber Optic Gyroscope Market Overview, 2021-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Fiber Optic Gyroscope Market 5. Supply Side and Demand Side Indicators 6. Global Fiber Optic Gyroscope Market Analysis and Forecast, 2021-2029 6.1. Global Fiber Optic Gyroscope Market Size & Y-o-Y Growth Analysis. 7. Global Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 7.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 7.1.1. 1-axis 7.1.2. 2-axis 7.1.3. 3-axis 7.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 7.2.1. Gyrocompass 7.2.2. Inertial Measurement Unit 7.2.3. Inertial Navigation System 7.2.4. Attitude Heading Reference System 7.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 7.3.1. Tactical Grade Applications 7.3.2. Aerospace and Defense 7.3.3. Aeronautics And Aviation 7.3.4. Robotics 8. Global Fiber Optic Gyroscope Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 9.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 9.1.1. 1-axis 9.1.2. 2-axis 9.1.3. 3-axis 9.2. Other Seals Market Size (Value) Estimates & Forecast By Device, 2021-2029 9.2.1. Gyrocompass 9.2.2. Inertial Measurement Unit 9.2.3. Inertial Navigation System 9.2.4. Attitude Heading Reference System 9.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 9.3.1. Tactical Grade Applications 9.3.2. Aerospace and Defense 9.3.3. Aeronautics And Aviation 9.3.4. Robotics 10. North America Fiber Optic Gyroscope Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 11.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 11.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 12. Canada Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 12.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 12.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 13. Mexico Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 13.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 13.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 14. Europe Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 14.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 14.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 15. Europe Fiber Optic Gyroscope Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 16.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 16.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 17. France Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 17.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 17.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 18. Germany Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 18.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 18.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 19. Italy Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 19.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 19.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 20. Spain Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 20.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 20.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 21. Sweden Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 21.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 21.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 22. CIS Countries Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 22.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 22.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 23. Rest of Europe Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 23.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 23.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 24. Asia Pacific Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 24.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 24.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 25. Asia Pacific Fiber Optic Gyroscope Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 26.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 26.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 27. India Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 27.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 27.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 28. Japan Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 28.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 28.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 29. South Korea Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 29.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 29.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 30. Australia Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 30.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 30.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 31. ASEAN Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 31.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 31.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 32. Rest of Asia Pacific Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 32.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 32.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 33. Middle East Africa Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 33.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 33.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 34. Middle East Africa Fiber Optic Gyroscope Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 35.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 35.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 36. GCC Countries Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 36.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 36.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 37. Egypt Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 37.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 37.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 38. Nigeria Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 38.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 38.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 39. Rest of ME&A Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 39.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 39.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 40. South America Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 40.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 40.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 41. South America Fiber Optic Gyroscope Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 42.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 42.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 43. Argentina Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 43.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 43.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 44. Rest of South America Fiber Optic Gyroscope Market Analysis and Forecasts, 2021-2029 44.1. Market Size (Value) Estimates & Forecast By Sensing Axis, 2021-2029 44.2. Market Size (Value) Estimates & Forecast By Device, 2021-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2021-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Fiber Optic Gyroscope Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. EMCORE 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. KVH Industries 45.3.3. Honeywell International 45.3.4. Inc., Nedaero Components 45.3.5. Northrop Grumman Litef GmbH 45.3.6. Optolink LLC 45.3.7. Advanced Navigation 45.3.8. Cielo inertial Solutions Ltd. 45.3.9. iXblue 45.3.10. FIZOPTIKA 45.3.11. Honeywell International Inc. 45.3.12. Safran S.A 45.3.13. Colibrys Ltd 45.3.14. Luna Innovations 45.3.15. Nyfors Teknologi 45.3.16. Saab 45.3.17. Furukawa (OFS) 45.3.18. Other Key Players 46. Primary Key Insights