Global Gyroscope Market Trends and Forecast 2028: Growth & Market Size

The Global Gyroscope Market is projected to grow at a CAGR of around 5.43% during the forecast period, i.e., 2023-28, due to its consistent installations in various end-user industries such as aerospace, defense, marine, consumer electronics, automotive, etc.                                           

Global Gyroscope Market Dynamics:

Surging Investments in Military Aircraft Manufacturing to Fuel the Market Growth - The rising geopolitical tension worldwide, like the dispute between the nations such as China, India, Pakistan, Russia, Ukraine, etc., has created a noticeable demand for military aircraft, boosting the Global Gyroscope market over the last few years. As, these devices have been considered an integral part of aircraft due to their variable functionalities, such as providing reliable solutions for military aircraft navigation purposes.

Gyroscopes are currently used in the military and other types of airplanes as part of inertial navigation systems in order to calculate the aircraft's position even when GPS signals are not available. Several governments of the region, like North America, Europe, Asia-Pacific, etc., announced investments for the procurement of military aircraft, which is further anticipated to upscale the demand for gyroscopes from 2023 to 2028. For instance:

·       In 2022, Airbus Defence and Space & TATA Advanced Systems Limited collaborated to manufacture the C-295 military transport aircraft in India for an Indian military base by making an investment of nearly USD2.65 billion.

Accordingly, the geopolitical tension between the countries has expanded the commercial sale & manufacturing of military aircraft. This, in turn, is further expected to fuel the demand for different types of these devices, including MEMS gyroscopes, laser gyroscopes, etc., in the forecast years.

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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Global Gyroscope Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2022

-Historical Period: 2018 to 2021

-Forecast Period: 2023-28

• By Product Type
  • MEMS Gyroscope
  • Fibre Optic Gyroscope
  • Ring Laser Gyroscope
  • Hemispherical Resonating Gyroscope
  • Dynamically Tuned Gyroscope
  • Others
• By End Users  
  • Consumer Electronics
  • Aerospace & Defense
  • Industrial Manufacturing
  • Automotive
  • Marine
  • Mining
• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -   Honeywell International, Inc., Robert Bosch GmbH, Analog Devices, Inc., Trimble, Inc., Murata Manufacturing Co., Ltd., Silicon Sensing Systems Limited, STMicroelectronics, TDK Corporation, NXP Semiconductors., Epson America, Inc., InnaLabs, MEMSIC Semiconductor Co., Ltd., EMCORE Corporation., VectorNav, Others [Safran Sensing Technologies Switzerland SA, etc.]

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