Global fiberoptic gyroscope market is expected to reach USD 1,675.87 million by 2025 from USD 1,318.56 million in 2017, at a CAGR of 3.3% in the forecast period 2018 to 2025.
The major factors contributing to the growth of the market includes factors such as the effective integration due to compact designing and miniaturization, growing demand for remotely operated vehicle and increased acceptance of fiber optic gyroscopes in industrial areas. On the other hand, availability of alternatives may hinder the growth of the market.
The key market players for global fiberoptic gyroscope market are listed below;
EMCORE Corporation
KVH Industries, Inc.
Honeywell International Inc.
NEDAERO
Safran Colibrys SA
iXblue
Al Cielo Inertial Solutions Ltd.
Northrop Grumman LITEF GmbH
Fizoptika Corporation
OPTOLINK LLC
The market is further segmented into;
Sensing Axis
Device
Application
Geography
The global fiberoptic gyroscope market is segmented on the basis of sensing axis, devices, application and geography. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.
The global fiber optic gyroscope market is segmented based on sensing axis into three notable segments; 1- axis, 2- axis and 3- axis. The Fiber optic gyroscope market is dominated by 1- axis with 55.7% market share in 2017 and 3-Axis is expected to grow at the highest CAGR of 4.1% in the forecast period.
The global fiber optic gyroscope market is segmented based on device into four notable segments system; inertial navigation system, inertial measurement units, gyrocompass and attitude heading reference system.
The global fiber optic gyroscope market is segmented based on application into six notable segments system; defense and homeland security, aeronautics and aviation, tactical grade application, remotely operated vehicle guidance, industrial and robotics. Tactical grade application is further sub segmented into three types unmanned ground vehicle, unmanned underwater vehicle and unmanned aerial vehicle.
Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa. North America is expected to dominate the market with the highest market share of 36.2%.
Based on geography, the global fiberoptic gyroscope market is segmented into geographical regions, such as,
North- America
South America
Europe
Asia-Pacific
Middle East and Africa
Covered in this report
The report covers the present scenario and the growth prospects of the global fiberoptic gyroscope market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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