Fiber Optic Gyroscope Market

Fiber Optic Gyroscope Market Outlook (2022-2032)

The fiber optic gyroscope market continues to grow against the backdrop of demand for reliable machinery for aerospace & military purposes.

The global fibre optic gyroscope market is likely to reach a valuation of US$ 968.2 Million in 2022 and is expected to reach US$ 1,760.9 Million by the end of 2032, registering at a CAGR of 6.2%. The fiber optic gyroscope market is expected to expand due to the demand for reliable equipment for aerospace and military purposes.

Report Attributes	Details
Market Size (2021A)	US$ 920.7 Million
Estimated Market Value (2022E)	US$ 968.2 Million
Forecasted Market Value (2032F)	US$ 1,760.9 Million
Global Market Growth Rate (2022-2032)	6.2% CAGR
North America Market Share (2022)	38.4%
North America Market Value (2022)	US$ 337.3 Million
Europe Market Share (2022)	29.2%
Europe Market Value (2022)	US$ 282.7 Million
China Market Share (2022)	6.9%
China Market Value (2022)	US$ 66.4 Million
Market Share of Top 3 Countries	39.3%
Key Companies Profiled	Honeywell International Inc. Emcore Corporation Honeywell International Inc. Emcore Corporation Northrop Grumman Litef GmbH KVH Industries, Inc. Nedaero Components iXBlue SAS Fizoptika Corp. Optolink LLC AL Cielo Inertial Solutions Ltd.

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Sales Analysis of fibre Optic Gyroscope (2017-2021) Vs. Market Outlook (2022-2032)

Owing to the conversion from ring laser gyroscope to fibre optic gyroscope for various applications, the fibre optic gyroscope business has grown significantly beyond predictions. One of the technologies with expanding use cases is fibre optic gyroscopes. The use of fibre optic gyroscopes is expanding. The gyroscope will be widely used in the aerospace & defense industry and will exceed US$ 700.1 mn by 2022, registering at a Y-O-Y of 5.1% during the forecast period.

The market has grown far beyond expectations, shifting from using RLGs to FOGs for certain applications. Fiber optic gyroscopes are among the technologies that are also growing in terms of use cases. The fiber optic gyroscope technology did not gain traction in the market due to several restraints, such as the availability of better-quality alternatives.

North America and Europe were the dominant markets in 2022 for fiber optic gyroscopes. In the coming years, South Asia & Oceania countries are expected to be key markets for sustainable revenue generation from the fiber optic gyroscope market.

The use of fibre optic gyroscopes has historically registered at a rate of about 3.3% CAGR from 2017 to 2021. The main driver of this growth is the fibre optic gyroscope's ongoing technological advancement. The need for fibre optic gyroscopes is growing along with end-use industries like aerospace, defense, healthcare, and robotics. The continuous technological development of the fibre optic gyroscope is the key factor driving this growth. Along with end-user industries like aerospace, defense, healthcare, robots, and others, the need for fibre optic gyroscopes is rising.

• Short Term (2022 Q2 to 2025): The key applications of fiber optics gyroscopes in the defense sector is likely to lead the market growth.
• Medium Term (2025-2028): Innovative market players are looking to examine the possibilities of highly automated and electric flight in low-altitude airspace.
• Long Term (2028-2032): The end-use industries such as aerospace, defense, healthcare sector, robotics, and others are expanding, and the demand for fiber optic gyroscope is also increasing.

From 2017 to 2021, the global market for fiber optic gyroscope registered a CAGR of 3.3%. Fact.MR, a market research and competitive intelligence provider, reveals that the market is likely to exhibit growth at 6.2% CAGR between 2022 and 2032.

Market share analysis of fiber optic gyroscope based on device type and region is provided in the above image. Under the device type segment, the Inertial Navigation System sub-segment dominates with a 41.3% market share in 2022.

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Continuous Investments Flowing in the Fiber Optic Gyroscope Market

“Increasing Defence Expenditure Globally Led to Surge in Adaption of fibre Optic Gyroscope.”

The primary defence industry uses for fibre optic gyroscopes are dynamic Global Positioning System (GPS) tracking, missile flight control, dynamic platform stabilization, ground detection, environmental observation, security, guided munitions, and earth observation.

These are some of the main driving forces behind the development of the world market for fibre optic gyroscopes. Continuous investments in the global military industry have made it simpler to conduct research and development, which has accelerated the creation of tactical weaponry and fueled the expansion of the fibre optic gyroscope market.

“High Acceptance of Fibre Optic Gyroscope in Industrial Area”

One industry where fiber optic gyroscopes are being used more frequently is automotive vehicle navigation. Businesses are setting up huge production lines, and practically all new vehicles include navigation systems.

Fiber optic gyroscopes can also be used as up-to-compasses or north-finding tools and height control systems for agricultural helicopters. Additionally, there is a growing need for equipment that has been optimized with intelligent sensors for applications like satellite antenna positioning and navigation.

What Do Fiber Optic Gyroscope Market Players Need to Watch Out for?

“High Noise at the Time of Operation”

An aided inertial navigation system's gyroscope is often a high-bandwidth sensor; hence noise level is a crucial performance factor. However, it has been shown that fibre optic gyroscopes make a lot of noise while operating in some applications.

Although noise-rejecting technology has recently been developed, it is not widely used because it is more expensive and takes up more space. These difficulties impede noise rejection units' viability as sales items, hindering the expansion of the fibre optic gyroscope market.

Country-wise Insights

Will Increase Production of Medical Devices in the United States Drive Fiber Optic Gyroscope Demand?

The fact that many large businesses, including Honeywell International Inc., Emcore Corporation, and KVH Industries, have a substantial presence in the U.S. is evidence of the enormous demand for fibre optic gyroscopes in that nation.

The world's greatest per capita health spending is in the United States, reaching US$ 12,500 in 2020. This represents the rising demand for medical equipment, registering at a CAGR of over 4%. Over the next several years, there will be a greater need for fibre optic gyroscopes due to the rising demand for medical devices, especially those in which they play a significant role. Additionally, the nation spent the most on aerospace in 2021, worth US$ 666.0 mn worldwide spending.

The fibre optic gyroscope market in the U.S. is anticipated to reach US$ 249.4 mn in 2022 and is likely to register at a CAGR of around 5.5% over the forecast period by 2032.

How Does Germany’s Automobile Industry Assist the Growth of Fibre Optic Gyroscope?

The automotive and transportation & logistics industries are the most promising sectors in Europe, particularly Germany, favoring the rise in sales of fibre optic gyroscopes. Most regional automakers, notably Volkswagen, Daimler, BMW, Peugeot, and Renault, are investing significantly in developing lighter, faster, and more automated cars.

The production of electric vehicles, on which these automakers are currently concentrating, is predicted to increase demand for fibre optic gyroscopes. In addition, Germany's emphasis on developing an effective healthcare sector compared to other European countries is helping to increase demand for these gyroscopes.

Germany is expected to be close to a value of US$ 65.1 mn in 2022, with the market registering a CAGR of around 6.6% by 2032.

Category-wise Insights

Why there is High Demand in the Aerospace & Defense Sector for Fibre Optic Gyroscope?

Fibre optic gyroscopes are mostly utilized for avionics built into the artificial horizons of military or commercial aircraft, as well as to maintain targeting lines on remotely controlled gun turrets and pictures. Gyroscopes with sensors are incredibly durable. In 2021, the world spent more than US$ 2.1 trillion on the military. In actual terms, the total is 7.2% larger than in 2010 and almost 4% higher than in 2018. UAV demand is expected to rise despite constrained defense budgets.

One of the most important factors anticipated to fuel market expansion is the increase in the purchase of military UAVs by defense forces aaround the world. UAVs are being used more often in a variety of industrial settings, including monitoring, surveying and mapping, precision farming, airborne remote sensing, and product delivery. Fibre optic gyroscopes are widely employed to track a UAV's motions, propelling market expansion in the military industry.

Considering the above facts, the aerospace & defense sub-segment of the fiber optic gyroscope year-on-year growth will be 5.1% by the end of 2022.

What is the contribution of the sale of Fibre Optic Gyroscopes in the Navigation System?

GPS tracking systems are useful for keeping an eye on commercial vehicles, including trucks, buses, heavy trucks, and construction equipment. One of the fastest-growing sectors worldwide is this one. In GPS technology, fibre optic gyroscopes are widely used. In recent years, fibre optic gyroscopes have found use in autonomous vehicle guidance backup systems for GPS-inaccessible area vibration, angular velocity sensors, stabilizing devices, and many other critical applications.

Gyroscope sensors are used in radio-controlled helicopters, robotic systems, camera shake detection systems in digital cameras, electronic stability control systems for cars, motion sensing in mobile games, and many more applications. Gyroscopes are widely used as the main component of navigation systems, driving the industry.

Therefore, the inertial navigation system is expected to reach a market share of 41.3% by 2022.

Competitive Landscape

Prominent players of fiber optic gyroscope include Honeywell International Inc., Emcore Corporation, KVH Industries Inc., Northrop Grumman Litef GmBH, NADAERO Components, iXBlue SAS, Fizoptika Corporation, Optolink LLC and Al Cielo inertial Solution Ltd.

Research projects, such as those carried out by market players at the Micro-Satellite Research Center, School of Aeronautics and Astronautics, Zhejiang University, focused on finding novel ways to design miniaturized fiber optic gyroscopes. The focus is mainly on greater efficiency to counter functionality-related challenges linked to reducing the size of these gyroscopes. Above are prime examples of such innovative developmental activities.

Further, miniature fiber optic gyroscopes can be successfully integrated into high-end industrial applications. The leading professionals in fiber optic gyroscopes are implementing cutting-edge technologies to capitalize on the structural benefits linked to the compactness and size of fiber optic gyroscopes.

Fact.MR has provided detailed information about the price points of key players of Fiber Optic Gyroscope positioned across regions, sales growth, product offering, and speculative technological expansion, in the recently published report.

Segmentation of Fiber Optic Gyroscope Industry Research

• By Sensing Axis:

  • 1-Axis
  • 2-Axis
  • 3-Axis

• By Device Type:

  • Gyrocompass
  • Inertial Navigation System
  • Inertial Measurement Unit
  • Others

• By Vertical:

  • Aerospace & Defence
  • Automotive
  • Robotics
  • Mining
  • Healthcare
  • Transportation & Logistics
  • Other Industrials

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa