According to the business intelligence report titled ‘Global Inertial Navigation System (INS) Market is segmented by End-user Industry (Aerospace and Defense, Automotive, Marine, Industrial), Regional Forecasts 2021-2027’, available with MarketStudyReport, global inertial navigation system (INS) is anticipated to grow at a strong rate during 2021-2027.
 

As per report findings, increased expenditure in military and defense applications serves as a major growth propeller for global inertial navigation system (INS) market growth. For instance, the Association for Unmanned Vehicle Systems International cites that the US armed forces had aimed to spend around 9.6 Bn in 2019 on unmanned vehicle systems, marking a 28% increase over the previous year.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4566351/
 

For the uninitiated, inertial navigation systems utilize the dead reckoning technique which identifies the velocity, initial location, and attributes of an object without the aid of external forces.
 

Experts cite that new product launches and escalating demand for improved navigation systems will continue to drive the industry growth in the coming years. However, challenges like operational limitations with regards to advanced inertial navigation systems and budget constraints in defense ministries of developing nations may hinder market expansion in the upcoming years.
 

Speaking of the key opportunities in worldwide inertial navigation systems (NIS) market, emergence of commercial driverless vehicles and advancements in MEMS-Based Ins will augment the remuneration scope of businesses in the upcoming years
 

Geographically, North America inertial market is expected to garner strong returns during the evaluation period owing to the surging demand for navigation systems in line with increased product usage in naval militia for exploration activities.
 

Elaborating on the competitive landscape, Inertial Sense, Inc., MicroStain, Inc., Oxford Technical Solutions Ltd, Memsic Inc., Northrop Grumman Corporation, NovAtel Inc., Trimble Inc, Aeron Systems Pvt Ltd, and Tersus GNSS are the major players influencing worldwide inertial navigation system industry trends.
 

The aforementioned companies are making continuous efforts in expanding their production capacity, boosting revenue, and technological advancements to improve their position in the market sphere. For instance, in September 2019, Honeywell International Inc introduced two inertial measurement units to aid navigation in lightweight and small designs with reduced costs.