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Fiber Optic Gyroscope Market

Fiber Optic Gyroscope Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Fiber Optic Gyroscope Market is segmented by Application, Device and by Region. KDMI analyst foresees market revenue to cross USD 2002.33 Million by 2032 by growing with a CAGR of 3.7% during 2024-2032.


Fiber Optic Gyroscope Market Highlights

The global fiber optic gyroscope market is expected to cross a value of USD 2002.33 million by the end of 2032. The market was valued at USD 1142.04 million in 2023 and is expected to expand at a CAGR of 3.7% between 2024-2032.

  • Over the mid-term, the growing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sectors is the primary factor anticipated to drive the global fiber optic gyroscope market.
  • The high initial investment is a major factor to challenge the market growth.
  • The Asia Pacific fiber optic gyroscope market is projected to dominate the global market.

                     Fiber Optic Gyroscope Market: Report Scope

Base Year

     2023

Base Year Market Size

     USD 1142.04 Million

Forecast Year

     2024-2032

Forecast Year Market Size

     USD 2002.33 Million

CAGR Value

     3.7%

Fiber Optic Gyroscope Market Key Trends/Major Growth Drivers

  • Growing Aerospace and Defense Industry Globally
  • Rising Adoption of Inertial Navigation Systems (INS)
  • Growing Adoption of Drones and Unmanned Aerial Vehicles (UAVs) in the Defense and Commercial Sectors

Restraint Factors

  • High Initial Investment
  • Availability of Low-Cost Alternatives

Fiber Optic Gyroscope Market Segmentation

  • By Application
  • By Device
  • By Geography

Fiber Optic Gyroscope Market Key Players

EMCORE Corporation, Honeywell International Inc., KVH Industries, Inc., Safran Colibrys SA, iXBlue SAS, Northrop Grumman LITEF GmbH, Cielo inertial Solutions Ltd, Fizoptika Corporation, NEDAERO Optolink LLC, Advanced Navigation, and others.


Fiber Optic Gyroscope Market Outlook

A fiber optic gyroscope (FOG) is a type of gyroscope that uses the principles of fiber optics to detect changes in orientation. It operates on the basis of the Sagnac effect, which is a phenomenon in which light traveling in opposite directions along a closed loop of optical fiber experiences a phase shift when the loop is rotated.

According to our researchers at KD Market Insights, the growing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sectors is one of the primary factors associated with the growth of the global fiber optic gyroscope market. Our researchers predict that in the next 4 years, the volume of drones would cross 9 million units, while the revenue generated from drones is expected to grow annually by around 2% between 2024 and 2028. Fiber optic gyroscopes are widely used in navigation systems for their high accuracy, reliability, and stability. With the growing demand for precise navigation solutions in applications such as autonomous cars, unmanned aerial vehicles (UAVs), and maritime vessels, the demand for FOGs is expected to rise EMCORE Corporation, Honeywell International Inc., and KVH Industries, Inc. are some of the significant parties in the global market for fiber optic gyroscope.

Fiber Optic Gyroscope Market Graph                             Get More Insights on This Report - Request Free Sample PDF


Fiber Optic Gyroscope Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global fiber optic gyroscope market are:

  • Growing Aerospace and Defense Industry Globally: The aerospace and defense sector is a major consumer of fiber optic gyroscopes. The industry employs them in applications such as aircraft navigation, missile guidance, and stabilizing platforms. Owing to the increasing military expenditure worldwide, which according to the Stockholm International Peace Research Institute (SIPRI), touched USD 2240 billion in 2022, growing by 3.7% from the previous year, defense technologies are experiencing new horizons, thereby raising the demand for FOGs in this particular industry.
  • Rising Adoption of Inertial Navigation Systems (INS): Inertial navigation systems, which rely on gyroscopes and accelerometers for precise positioning and orientation determination, are increasingly used in various industries, including automotive, aerospace, marine, and robotics. By integrating FOG with INS solution, it enhances the accuracy and performance of the navigation systems, which is expected to drive the adoption of FOGs during the forecast period.

Which Probable Factors Could Hamper the Growing Fiber Optic Gyroscope Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of fiber optic gyroscope are:

  • High Initial Investment: Fiber optic gyroscopes typically involve high initial investment costs compared to other types of gyroscopes. The complexity of manufacturing processes, the need for specialized materials, and the requirement for precision assembly contribute to higher production costs, making FOG-based solutions more expensive for end-users. Such a factor is therefore expected to limit the demand for the product in the coming years.
  • Availability of Low-Cost Alternatives: The availability of low cost alternatives, such as ring laser gyroscopes (RLGs) and MEMS (Micro-Electro-Mechanical Systems) gyroscopes, which offer greater advantage in terms of size, weight, power consumption, or cost, making them more attractive to certain applications and industries. This is therefore predicted to hamper the market growth during the forecast period.

How is the Global Fiber Optic Gyroscope Market Segmented?

Our experts at KD Market Insights have segmented the global fiber optic gyroscope market as:

By Application

  • Aerospace and Defense
  • Tactical Grade Applications
  • Remotely Operated Vehicle Guidance
  • Robotics

By Device

  • Gyrocompass
  • Inertial Measurement Unit
  • Inertial Navigation System
  • Attitude Heading Reference System

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Malaysia
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa

What are the Probable Factors Influencing the Asia Pacific Fiber Optic Gyroscope Market Forecast?

The Asia Pacific fiber optic gyroscope market is majorly driven by the increasing demand for autonomous vehicles and robotics, such as drones, unmanned maritime vessels, and others, followed by the rising expansion of the telecommunication infrastructure. The Asia Pacific region is experiencing rapid expansion and modernization of telecommunications networks, including the deployment of fiber optic cables for high-speed internet and data transmission. Fiber optic gyroscopes are used in the construction, maintenance, and monitoring of these fiber optic networks, which is expected to contribute to the market growth in the coming years.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific fiber optic gyroscope market growth:

  • iXblue (Asia-Pacific) Pte Ltd
  • Beijing BDStar Navigation Co., Ltd.
  • Emcore Corporation
  • Northrop Grumman LITEF GmbH
  • Nanjing Jilong Optical Communication Co., Ltd.

Key Countries to Watch for in Asia Pacific Fiber Optic Gyroscope Market

Key Insights

China Fiber Optic Gyroscope Market to Register the Largest Regional Market Share in 2032

USD 240.28 Million

Japan Fiber Optic Gyroscope Market to Grow with the Highest CAGR During 2024-2032

3.8%


Which Key Players Top the Global Fiber Optic Gyroscope Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global fiber optic gyroscope market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with fiber optic gyroscope market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global fiber optic gyroscope market share:

  • EMCORE Corporation
  • Honeywell International Inc.
  • KVH Industries, Inc.
  • Safran Colibrys SA
  • iXBlue SAS
  • Northrop Grumman LITEF GmbH
  • Cielo inertial Solutions Ltd
  • Fizoptika Corporation
  • NEDAERO
  • Optolink LLC
  • Advanced Navigation

What are the Recent Developments Observed in the Fiber Optic Gyroscope Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global fiber optic gyroscope market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, KVH Industries, Inc. shared that it has received a new order for its TACNAV tactical navigation systems for use by an international military customer.

Further, Fibercore, stated that it has released two enhanced-performance PM fibers developed specifically for next generation Fiber Optic Gyroscopes (FOGs).


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Booklet
  • Publication date: 5th April 2024
  • Base year: 2022
  • Forecast year: 2023-2033
  • Format: PDF, PPT,Word,Excel

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