Fiber Optic Gyroscope Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Fiber Optic Gyroscope Market: Overview and Definition
A fiber optic gyroscope (FOG) is a type of gyroscope that uses the interference of light waves to detect changes in orientation. It is typically used as a navigation sensor in applications such as aircraft, spacecraft, and submarines, as well as in industrial and defense applications.
The global fiber optic gyroscope market is a significant and growing industry, driven by increasing demand for high-precision navigation systems and advances in fiber optic technology.
The market is broadly divided into two main segments: navigation and tactical grade fiber optic gyroscopes. Navigation grade FOGs are typically used in commercial and industrial applications, such as aircraft and unmanned aerial vehicles (UAVs), while tactical grade FOGs are used in defense applications, such as missile guidance and military vehicles.
Another emerging trend in the fiber optic gyroscope market is the development of compact and lightweight FOGs. This is driven by the increasing demand for navigation systems in small unmanned systems, such as drones, which require lightweight and power-efficient sensors. Additionally, the use of fiber optic gyroscopes in autonomous vehicles and robotics is expected to drive the growth of the market in the coming years.
The Global Fiber Optic Gyroscope Market is expected to reach USD 1,037.0 million by 2027 at CAGR of 3.6 % during the projected period. The fiber optic gyroscope is used in sensing the object orientation that gives a very accurate information about the rotational rate. Based on sensing axis the market is segregated into 1-axis ,2-axis, and 3-axis. The fiber optic gyroscope market is dominated by 1- axis with 55.7% market share in 2021 and 3-Axis is expected to grow at the highest CAGR of 4.1% in the forecast period. Increasing defense expenditure across all economies is one of the major factors that are positively influencing the growth of global fiber optic gyroscope market.
Growing demand for defense equipment and the rising adoption of automation in industries & homes are the major factors that have contributed to the growth of the global fiber optic gyroscope market. Region wise, the North America is the strongest region for the fiber optic gyroscope market. As the investment in defense sector is considerably high in North American countries as compare to other countries, so this factor is projected to drive the growth of the North America fiber optic gyroscope market in coming years. However, as fiber optic gyroscope designs are slightly sensitive to vibrations, there designing process is very complexed. The factors which are hampering the growth of the fiber optic gyroscope market are such as, its highly complex design and time-consuming manufacturing process.
The research offers a comprehensive analysis of global fiber optic gyroscope market with respect to following sub-markets:
- 3 axis.
- Aeronautics and Aviation
- Remotely Operated Vehicle Guidance
- Space Application
- Tactical Grade Application
- Defense and Homeland Security
- Inertial Navigation System
- Inertial Measurement Units
- Attitude Heading Reference System
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as,
- Honeywell International Inc.
- KVH Industries Inc.
- Safran Colibri’s SAS
- IXblue SAS
- Al Cielo Inertial Solutions Ltd.
- Northrop Grumman LITEF GmbH
- Fizoptika Corporation
- Optolink LLC
- Other Major & Niche Key Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as technology information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in global fiber optic gyroscope market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2027: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global fiber optic gyroscope market by the following segments:
- By Type
- By Application
- By Device
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Fiber Optic Gyroscope Market Industry Report:
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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