Global Fiber Optic Gyroscope Market is expected to reach USD 1,675.87 Million by 2025 from USD 1,318.56 Million in 2017, at a CAGR of 3.3% in the forecast period 2018 to 2025.
Asia Pacific Fiber Optic Gyroscope Market is expected to reach USD 410.07 Million by 2025, from USD 312.50 Million in 2017 growing at a CAGR of 3.8% in the forecast period 2018 to 2025.
Europe Fiber Optic Gyroscope Market is expected to reach USD 476.39 Million by 2025, from USD 381.06 Million in 2017 growing at a CAGR of 3.1% in the forecast period 2018 to 2025.
North America Fiber Optic Gyroscope Market is expected to reach USD 611.10 Million by 2025, from USD 477.32 Million in 2017 growing at a CAGR of 3.4% in the forecast period 2018 to 2025.
The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Key Players Mentioned:
- EMCORE Corporation
- Honeywell International, Inc.
- Northrop Grumman LITEF GmbH
- Optolink LLC.
- SafranColibrys SA
- Fizoptika Corp.
- KVH Industries, Inc.
- Ixblue SAS
- AL Cielo Inertial Solutions Ltd.
- NedAero Components
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- Rising adoption of automation and demand of remotely operated vehicles
- Growing expenses related to defense
- Rising demand of advanced microelectromechanical systems gyroscopes
- High complexity, high investment and more time consuming
Segmentation of Global Fiber Optic Gyroscope Market:
The global fiber optic gyroscope market is segmented based on sensing axis into three notable segments; 1- axis, 2- axis and 3- axis. The fiber optic gyroscope market is dominated by 1- axis with 55.7% market share in 2017 and 3-Axis is expected to grow at the highest CAGR of 4.1% in the forecast period.
The global fiber optic gyroscope market is segmented based on device into four notable segments system; inertial navigation system, inertial measurement units, gyrocompass and attitude heading reference system.
The global fiber optic gyroscope market is segmented based on application into six notable segments system; defense and homeland security, aeronautics and aviation, tactical grade application, remotely operated vehicle guidance, industrial and robotics. Tactical grade application is further sub segmented into three types unmanned ground vehicle, unmanned underwater vehicle and unmanned aerial vehicle.
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The global fiber optics gyroscope market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East and Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Key Drivers of Global Fiber Optic Gyroscope Market:
- Some of the major factors driving the market for global fiber optic gyroscope are effective integration due to compact designing and miniaturization, growing demand for remotely operated vehicle and increased acceptance of fiber optic gyroscopes in industrial areas.
- Availability of alternatives is the factor which may hinder the growth of this market.
- Utilization of fiber optic gyroscope for measuring drilling (MWD) processes in the oil industry will drive the market in future.
Key Points of Global Fiber Optic Gyroscope Market:
v Defense and Homeland Security market is growing with the highest CAGR
v Axis is driving the market with highest market share
v Axis segment is dominating the fiber optic gyroscope market
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Research Methodology of Global Fiber Optics Gyroscope Market:
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an analyst call or can drop down your inquiry.
Some of the key research methodologies used by DBMR Research team is Vendor Positioning Grid, Technology Life Line Curve, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Company Sales, Multivariate Modeling, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about of research skills drop an inquiry to speak to our industry experts.
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