The global IMU market was valued at USD 16.2 billion in 2018 and is expected to reach USD 24.9 billion in 2026, growing at a CAGR of 5.5% during the forecast period. Growing demand for accuracy in navigation, growing production and sales of smart phones, increase in demand for aircraft and missiles due to changing nature of warfare and less costs of miniaturized components are expected to drive the growth of the IMU market.
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Inertial measurement units (IMU) is an electronic device used to measure angular and linear motion with a triad of accelerometers and triad of gyroscopes. It is used in unmanned aerial vehicles (UAVs), missiles, satellites, unmanned systems, and aircraft and functions main components in inertial navigation systems. Navigation and correction, unmanned systems control, control and stabilization, mobile mapping, measurement, and testing are some of the main applications of IMUs.
IMU has a huge application in the consumer electronics and aerospace and defense applications. It is used in a variety of helicopters, commercial jets, commercial aircraft, and other forms of autonomous aerospace vehicles. These applications require a high level of performance stability and high precision accuracy.
Rising demand for IMU in end-use industries like consumer electronics, automotive, marine in emerging countries is the key factors attributed to the market growth. Furthermore, tracking real-time vehicle’s position with respect to inclination and increase in demand for aircraft and missiles due to the changing nature of warfare is also expected to fuel the market growth during the forecast period. On the other hand, high operational and maintenance costs along with operational complexity and less defense budget in developing countries are acting as a restraint to this market. However, continuous development in commercial driverless vehicles and MEMS-Based IMU and growing advancement in Virtual Reality (VR) and Augmented Reality (AR) technologies are expected to create major growth opportunities during the forecast period.
Key Findings:
Based on component, the gyroscopes segment is expected to grow at the highest CAGR of around 7.2% during the forecast period
Based on technology, the MEMS segment is expected to grow at the highest CAGR of around 7.7% during the forecast period
Based on application, the consumer electronics segment is accounted for the largest share in the market and held for around 28% of the total market, in 2018
Based on grade, the commercial grade segment is accounted for the largest share in the market and held for around 37% of the total market, in 2018
Asia-Pacific accounted for around 33% share of the global IMU market in 2018
Recent News:
In June 2019, Bosch Sensortec GmbH launched new ultra-low power smart IMU named as BMI270. This new IMU is mainly designed for wearable applications and provide accelerometer offset and sensitivity performance by using Bosch MEMS process technology.
In April 2019, Moog Inc. Signed partnership agreement with The Boeing Company. The partnership aimed to supply the Wing Flight Control actuation and Wingfold actuation systems for the MQ-25 unmanned refuelling program. The actuation system is used to control the unmanned vehicle.
In January 2018, Bosch Sensortec GmbH introduced new MEMS sensor BMI088. This new system has vibration robustness, mainly used in drone and robotic applications.
In December 2017, Honeywell launched new HG4930 IMU. This new IMU has reliability and high accuracy, and performance. This new system is launched for autonomous vehicles, surveying and mapping, ground and underwater robotics, and unmanned aerial vehicles (UAV) gimbal stabilization applications.
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