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Inertial Navigation System Market Share

Report ID: GMI9804
Published Date: Jun 2024
Report Format: PDF

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Inertial Navigation System Market Share

Honeywell International Inc. Solutions and Northrop Grumman Corporation together held over 20% market share of the inertial navigation system industry in 2023. Honeywell International Inc. is a diversified technology and manufacturing company with a strong presence in various industries including aerospace, building technologies, performance materials, and safety & productivity solutions. Honeywell is a key player in the inertial navigation system market, providing advanced navigation solutions for a variety of applications, particularly in the aerospace, defense, and industrial sectors.

Northrop Grumman Corporation is a leading global aerospace and defense technology company. It offers advanced solutions for autonomous systems, cyber security, Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR), space, strike, and logistics & modernization.

Inertial Navigation System Market Companies

Major companies operating in the inertial navigation system industry are:

Honeywell International Inc.
Northrop Grumman Corporation
Safran Electronics & Defense
Thales Group
Raytheon Technologies Corporation
General Electric Company
Collins Aerospace

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of inertial navigation system reached USD 10.2 billion in 2023 and is set to witness over 5% CAGR between 2024 and 2032, owing to the growing demand for reliable navigation solutions to tackle security threats.

The gyroscopes segment of the inertial navigation system industry held a decent share in 2023 and will grow at over 7% CAGR between 2024 and 2032, due to rapid technological advances.

Asia Pacific market size is estimated to reach USD 5 billion by 2032, driven by increased defense budgets.

Honeywell International Inc, Northrop Grumman Corporation, Safran Electronics & Defense, Thales Group, Raytheon Technologies Corporation, General Electric Company, and Collins Aerospace among others.