Fiber Optic Gyroscope Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Published on : Apr-2021 | List of Tables : 84 | List of Figures : 126 | No. of Pages : 170 | Report Code : FACT2187MR |

About the Report

The global fiber optic gyroscope market size is set to expand at a healthy CAGR of 6% from 2021 to 2031. Considering end-use verticals, aerospace and defense is projected to hold over three-fourth market share through 2031.

With a shift from using ring laser gyroscopes to fiber optic gyroscopes for certain applications, the market has grown far beyond expectations. Fiber optic gyroscopes are among the technologies that are also growing in terms of use cases. Evidenced from the fact that the sales of package delivery drones is projected to reach over US$ 38 Mn by 2030, at a CAGR over 50% over the forecast period, usage of fiber optic gyroscopes is also rising. Key applications of fiber optics gyroscopes in the defense sector are dynamic Global Positioning System (GPS) tracking, missiles flight control, dynamic platform stabilization, ground detection, environmental observation, security, guided ammunition, and earth observation. Continuous investments in the defense sector across the globe have led to more research & development activities, which has increased the development of tactical weapons, thus leading higher demand for fiber optic gyroscopes.

Apart from this, demand for aircraft health monitoring is expected to grow from US$ 3.3 Bn in 2020 to over US$ 5.5 Bn by 2025, at a CAGR of over 10%. All these are key markets that assist demand growth of fiber optic gyroscopes. As cities and suburban areas battle with rising congestion, the need to provide mobility services for a growing population is increasingly becoming important. Innovative manufacturers are looking to examine the possibilities of highly automated and electric flight in low altitude airspace. For instance, sales of urban air mobility (UAM) is expected to reach over US$ 9 Bn by 2030. This will incidentally increase demand for fiber optic gyroscopes during the forecast period.

Foremost objective of the revised report by Fact.MR is to pitch valuable fiber optic gyroscope market insights and trends on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments. The report also outlines visionary insights on market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors. Demand trends have been tracked in 20+ high-growth countries, pointing towards countries in East Asia, Europe, and North America holding bulk of the share. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change. The study also expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new market entrants.

Historical Trends Vs Forecasts for Fiber Optic Gyroscopes

Historically from 2016 to 2020, fiber optic gyroscope use increased at around 3% CAGR, and the key factor assisting this growth is increasing technology upgradation in fiber optic gyroscopes. As end-use industries such as aerospace, defense, healthcare, robotics, and others are expanding, demand for fiber optic gyroscopes is also increasing.

Fiber optic gyroscopes are now being used in new applications, such as airborne optical targeting systems, which is a recent trend in the aerospace and defense sector. This has not only brought about a change in the usage pattern of optical fiber gyroscopes, but also increased their usage in similar applications. Optical fiber gyroscopes are now being researched upon to be used in high-end services such as drones that will be used for delivering medicines and transporting organs.

The market is forecasted to expand at a CAGR of around 6% over the coming 10 years. Fiber optic gyroscopes are replacing RLGs in several applications following amendments in their design and for increasing their efficiency. Fiber optic gyroscopes are being replaced by MEMS gyroscopes in the market for certain applications, such as missile guidance, which is slowing down market growth to a certain extent, and is likely to be a key restraint, as this technology is likely to take up a larger part of the market over the coming years.

What are the Key Strategies and Opportunities for Fiber Optic Gyroscope Manufacturers?

Fiber optic gyroscope market growth is dominated by large and established players such as Honeywell International Inc. and Emcore Corporation. These companies are concentrating on the production of innovative designs with added features by investing in R&D to gain a competitive advantage. Other than this, price wars among existing players are resulting in a reduction in the prices of fiber optic gyroscopes.

The cost of using fiber optic gyroscopes has been found to be lower as compared to ring laser gyroscopes, as the former is a mature technology that offers almost similar performance and size as that of ring laser gyroscopes. Development of the fiber technology is expected to lead to the manufacturing of high-performance fiber optic gyroscopes. Development of fiber technology is also expected to increase the areas of application of fiber optic gyroscopes, following which, they will overtake ring laser gyroscopes, thus leading to market growth. Moreover, owing to the cost advantage, fiber optic gyroscopes are expected to be preferred over ring laser gyroscopes over the coming years.

Which Region Offers More Opportunity for Sales of Fiber Optic Gyroscopes?

The Europe and North America fiber optic gyroscope markets were dominant in 2020 in terms of revenue sales for fiber optic gyroscopes. Over the coming years, countries in East Asia and South Asia & Oceania are expected to be key markets for sustainable revenue generation.

fiber optic gyroscope market region

 Growing popularity of remotely operated vehicles and usage of fiber optic gyroscopes for measurement during drilling processes in the oil industry are also among factors boosting the sales of fiber optic gyroscopes in developed economies. Deep-sea remotely operated vehicles use fiber optic gyroscopes and digital compass technology to find their way during voyages of exploration. Due to this application, demand for fiber optic gyroscope in the Mediterranean region is huge.

Country-wise Analysis

What are the Factors Aiding Demand Growth of Fiber Optic Gyroscopes in the U.S.?

Evidenced from the strong establishment of numerous big companies such  Honeywell International Inc., Emcore Corporation, and KVH Industries in the United States, the country has huge demand for fiber optic gyroscopes.

The United States has the highest per capita health expenditure in the world, which crossed US$ 11,062 in 2019. This signifies growing demand for health equipment (which has a CAGR of more than 4%). With growing demand for medical devices, including devices in which fiber optic gyroscopes have a key role, demand will also rise over the coming years. Also, the country has the largest spending in aerospace, with more than 49% of the global share in 2018.

The market in the U.S. is anticipated to expand at a CAGR of around 5% over the forecast period, with the absolute dollar opportunity for the country expected to be US$ 159 Mn by 2031.

How Does Growth of Germany’s Automobile Industry Assist Fiber Optic Gyroscope Demand Rise?

The most promising sector in Europe, especially Germany, favouring growth in the sales of fiber optic gyroscopes is the automotive and transportation & logistics sector. Most automobile manufacturing companies in the region, including Volkswagen, Daimler, BMW, Peugeot, and Renault, are heavily investing in creating lightweight, high-speed, and more automatic vehicles. These automotive companies are also currently focusing on manufacturing electric vehicles, which is expected to escalate demand for fiber optic gyroscopes. Other than that, Germany’s focus on creating an efficient healthcare sector similar to other European nations is further boosting demand for gyroscopes.

Absolute dollar opportunity in Germany is expected to be close to US$ 51 Mn over the forecast period, with the market progressing at a CAGR of around 7% through 2031.

What Makes Japan a Hub for Fiber Optic Gyroscope Demand?

Japan has had a well-established electronics manufacturing industry since decades. In the 1960s-70s, Japanese companies even surpassed the United States for manufactured electronic sales by producing quality as well as inexpensive electronic devices. Apart from these, the country is also engaged in aerospace manufacturing, which is boosting demand for fiber optic gyroscopes in the country.

Japan currently holds a share of over 34% of East Asian fiber optic gyroscope shipments, and is expected to have sales value of nearly US$ 77 Mn by 2031, with its market expected to expand at a CAGR of nearly 6% over the forecast period.

Category-wise Insights

Why is Demand for 3-Axis Fiber Optic Gyroscopes Growing?

3-Axis remains the most dominant type of sensing axis due to its ease of integration with other systems and compactness. It currently holds almost half of the sales of fiber optic gyroscopes.

Why are Inertial Navigation Systems the Most Promising Devices in this Space?

The market for inertial navigation is growing fast, as inertial navigation systems are a commercial off-the-shelf navigation and control solution, which use sensor fusion to deliver reliable high-accuracy navigation and control a wide variety of unmanned, autonomous, and manned aerial, ground, and marine applications.

Which End-use Industry has the Highest Market Share?

Aerospace and defence has the highest demand for fiber optic gyroscopes among all the end-use industries. Globally, it holds a share of more than 70%.

How Has COVID-19 Hindered the Sales of FOG?

Globally, COVID-19 has caused governments across the world to divert their capital from infrastructural projects to basic survival needs. However, post-pandemic times have observed huge demand from aerospace, defense, and homeland security. Globally, the market is expected to have incurred a loss of US$ 66 Mn in the year 2020.

What are the Factors Driving Demand of Fiber Optic Gyroscopes?

As fiber optic gyroscopes offer structural advantages in terms of size and compactness for easy integration in normal as well as strategic applications, they are now being used in the most in tactical and high-end applications. High-end applications such as the missiles flight control systems require effective integration, which, if not delivered, is likely to affect the mass. Fiber optic gyroscopes are fit for this purpose, and are used for the same, which is another factor propelling market growth.

The application of fiber optic gyroscopes is increasing in industrial areas, which includes vehicle navigation systems for automobiles. Companies are deploying mass-production lines, and there are vehicle navigation systems in almost all recent vehicles at present. Other applications of fiber optic gyroscopes include their usage as altitude-controlling systems for agricultural helicopters and as opto compasses or north-seeking instruments. Moreover, demand for equipment that has been optimized with intelligent sensors is escalating for satellite antenna positioning, navigation, and other applications.

Competitive Landscape

Fact.MR has profiled the following key fiber optic gyroscope manufacturers in its report:

  • Honeywell International Inc.
  • Emcore Corporation
  • KVH Industries Inc.
  • Northrop Grumman Litef GmbH
  • NADAERO Components
  • iXBlue SAS
  • Fizoptika Corporation
  • Optolink LLC
  • Al Cielo Inertial Solution Ltd
fiber optic gyroscope market competition

Most companies make generalized fiber optic gyroscopes that are used for multiple applications, but companies who makes these gyroscopes specific to applications are seen to be successful in the market. Majority of the companies discussed in the report have focused on establishing subsidiaries in developing regions. Strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks. Some of the key development are:

  • Honeywell, with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), is creating the next generation of inertial sensor technology that will one day be used in both, commercial and defense navigation applications.
  • In March 2021, Emcore Corporation was awarded a development contract valued at US$ 1.1 Mn by a key U.S. prime contractor to design and manufacture a high-end Inertial Measurement Unit (IMU) for tactical intelligence and reconnaissance systems.
  • Fizoptika is developing an ultra-light miniature fiber optic gyro VG1703D with digital output. The new model will offer instant initialization coupled with low noise performance. VG1703D-MS will be produced with integrated magnetic shielding. 

Similarly, recent developments related to companies manufacturing fiber optic gyroscopes have been tracked by the team at Fact.MR, which is available in the full revised report.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Germany
  • Russia
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • South Africa

Key Segments Covered

  • Sensing Axis
  • Device
  • Vertical
  • Region

Key Companies Profiled

  • Honeywell International Inc.
  • Emcore Corporation
  • KVH Industries Inc.
  • Northrop Grumman Litef GmbH
  • NADAERO Components
  • iXBlue SAS
  • Fizoptika Corporation
  • Optolink LLC
  • Al Cielo Inertial Solution Ltd

Customization & Pricing

Available upon Request

Key Questions Answered in Report

  • What is the expected growth rate of the fiber optic gyroscope industry by 2031?

    By value, Fact.MR has projected a CAGR of around 6% for fiber optic gyroscope sales through 2031.

  • Which region is expected to experience highest growth?

    As per Fact.MR’s projections, South Asia & Oceania countries would experience the highest growth rate. Also, the markets in East Asia and Europe are expected to experience high CAGRs.

  • Which players are prevalent in the FOG Market?

    Prominent players manufacturing fiber optic gyroscopes 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.

Enquiry before Buying

  • Is the market research conducted by Fact.MR?

    Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Fact.MR?

    Fact.MR follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample, and it will be sent to you through an email.

  • How can I buy this report?

    Fact.MR provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.

Key Market Segments Covered

  • Sensing Axis
    • 1-Axis Fiber Optic Gyroscopes
    • 2-Axis Fiber Optic Gyroscopes
    • 3-Axis Fiber Optic Gyroscopes
  • Device
    • Gyrocompasses
    • Inertial Navigation Systems
    • Inertial Measurement Units
    • Others
  • By Vertical
    • Fiber Optic Gyroscopes for Aerospace & Defence
    • Fiber Optic Gyroscopes for Automotive
    • Fiber Optic Gyroscopes for Robotics
    • Fiber Optic Gyroscopes for Mining
    • Fiber Optic Gyroscopes for Healthcare
    • Fiber Optic Gyroscopes for Transportation & Logistics
    • Industrial Fiber Optic Gyroscopes
  • Region
    • North America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Latin America
    • Middle East and Africa (MEA)

Fiber Optic Gyroscope Market- Scope of Report

A recent study by Fact.MR on the fiber optic gyroscope market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key manufacturers along with key stakeholders as well as emerging players associated with the development of fiber optic gyroscopes.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing fiber optic gyroscopes, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of fiber optic gyroscopes across the globe.

A comprehensive estimate has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of fiber optic gyroscopes during the forecast period.

Market Segmentation

Fact.MR has studied the market with detailed segmentation on the basis of sensing axis, device, vertical, and key regions.

Sensing Axis

  • 1-Axis
  • 2-Axis
  • 3-Axis

Device Type

  • Gyrocompasses
  • Inertial Navigation Systems
  • Inertial Measurement Units
  • Others

Vertical

  • Aerospace & Defense
  • Automotive
  • Robotics
  • Mining
  • Healthcare
  • Transportation & Logistics
  • Other Industrial

Region

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

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Analysis on Market Value Evaluation

Demand for fiber optic gyroscopes has been analyzed for each segment in terms of value (US$ Mn).

Market estimates at global and regional levels for fiber optic gyroscopes are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the fiber optic gyroscope market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional sales. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for fiber optic gyroscopes has been offered for each regions, along with scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regions, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of fiber optic gyroscopes, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of fiber optic gyroscopes has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the demand status, and predicting the competition level in the fiber optic gyroscope market. Prominent companies operating include Honeywell International Inc., Emcore Corporation, KVH Industries Inc., Northrop Grumman Litef GmBH, NADAERO Components, iXBlue SAS, Fizoptika Corporation, Optolink LLC, Al Cielo Inertial Solution Ltd., and others.

Fact.MR offers custom research services that help clients to get specific research solutions

We are committed towards customer satisfaction and quality service.


Our Clients

Our Clients

Fiber Optic Gyroscope Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031