The fiber optics gyroscope market is expected to reach USD 1,037.0 Million by 2022, at a CAGR of 3.61% between 2016 and 2022. The fiber optics gyroscope market is majorly driven by the increasing defense expenditure globally. Moreover, the overall fiber optics gyroscope market is driven by factors such as the huge demand for remotely operated vehicles guidance and growing adoption of automation in industries and homes. For this study, the base year considered is 2015 and the market forecast provided is between 2016 and 2022.

This report provides a detailed analysis of the fiber optics gyroscope market based on sensing axis, device, application, and geography for four main regions North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). The main driver for fiber optics gyroscope market is the growing use of remotely operated vehicle in various industries such as defense, aeronautics, and others. The report also profiles the key players and comprehensively analyzes their market ranking and core competencies along with detailing the competitive landscape for market leaders.

To estimate the size of the fiber optics gyroscope market, top-down and bottom-up approaches have been used. This research study involves an extensive usage of secondary sources, directories, and paid databases such as Factiva and OneSource to identify and collect information useful to study the technical, market-oriented, and commercial aspects of fiber optics gyroscope.

The research methodology is explained below.

This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, and interviews with industry experts.

High-growth segments have been identified to analyze opportunities in the overall fiber optics gyroscope market

Competitive developments such as contracts, agreement and acquisitions, new product developments, and research and development (R&D) in the overall fiber optics gyroscope market have been analyzed.

All the percentage splits and breakdown of the market segments are analyzed on the basis of secondary and primary research.

The following figure depicts the breakdown of the primaries on the basis of company type, designation, and region conducted during the research study.

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

This report provides valuable insights regarding the ecosystem of the fiber optics gyroscope market such as component manufacturers (EMCORE Corporation (U.S.) and Honeywell International, Inc. (U.S.)); system/device providers (iXBlue SAS (France), Fizoptika Corp. (Russia), and KVH Industries, Inc. (U.S.)); and application areas (Colibrys Ltd. (Switzerland)). This study answers several questions of stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.

Target Audience:

Raw material and manufacturing equipment suppliers

Electronic design automation (EDA) and design tool vendors

Component manufacturers

Original equipment manufacturers (OEMs)

Original design manufacturers (ODMs)

Integrated device manufacturers (IDMs)

ODM and OEM technology solution providers

Assembly, testing, and packaging vendors

Solution providers

Intellectual property (IP) core and licensing providers

Technology standards organizations, forums, alliances, and associations

Technology investors

Governments, financial institutions, and regulatory bodies

�The study answers several questions of the target audiences, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments.�

Scope of the Report:

This research report categorizes the overall fiber optics gyroscope market on the basis of sensing axis, device, application, and geography.

By Sensing Axis

1-axis

2-axis

3-axis

By Device

Gyrocompass

Inertial Measurement Unit

Inertial Navigation System

Attitude Heading Reference System

By Application

Tactical Grade Applications

Remotely Operated Vehicle Guidance

Aeronautics And Aviation

Robotics

Defense And Homeland Security

Industrial

By Geography

North America U.S. Canada Mexico

Europe Germany France U.K. Rest of Europe (Greece, Spain, Italy, Russia, Finland, Denmark, The Netherlands, and Sweden)

Asia-Pacific (APAC) China Japan India South Korea Rest of APAC (Australia, New Zealand, Singapore, Hong Kong, Indonesia, and Taiwan)

Rest of the World (RoW) Middle East and Africa Latin America



Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company�s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five)

The fiber optics gyroscope market is expected to be worth USD 1,037.0 Million by 2022, at a CAGR of 3.61% between 2016 and 2022. Fiber optics gyroscopes are widely used for remotely operated vehicle guidance and industrial applications. Fiber optics gyroscope is used in the navigation system and measurement units for navigation and controlling devices. Factors such as the rising demand for unmanned vehicles and growing industrialization could generate significant opportunities for this market in the near future.

In 2015, the defense and homeland security applications accounted for the largest share of the fiber optics gyroscope market, followed by the aeronautics and aviation application. The market for the remotely operated vehicle guidance is expected to grow at a high rate between 2016 and 2022. Fiber optics gyroscope is used to control and navigate the devices in these applications. In the aeronautics and aviation application, the demand for fiber optics gyroscope would grow because of the increasing demand of inertial navigation system and inertial measurement units for navigating spacecraft and aircrafts. This factor is expected to boost the demand for fiber optics gyroscope in these applications.

The fiber optics gyroscope market has also been segmented on the basis of sensing axis into 1 axis, 2 axes, and 3 axes. Of all the available sensing axis, the market for 3-axis fiber optics gyroscopes held the largest share in 2015 and the same trend is expected to continue by 2022 owing to the growing level of integration. Manufacturers are working towards integrating several functionalities in one system to reduce the number of components per device and to reduce the size and weight of the overall product. 3-Axis fiber optics gyroscopes are highly suitable for such integration.

Inertial navigation systems are expected to experience a high growth between 2016 and 2002. The use of the inertial navigation system in various applications such as defense, aeronautics and aviation, and remotely operated vehicles is expected to grow the fiber optics gyroscope market in the near future.

North America is expected to hold the largest share of the fiber optics gyroscope market in 2022. Presence of major players, increasing investments toward the development of advanced sensors, and increasing expenditure in defense sectors by the U.S. are driving the growth of the fiber optics gyroscope market in North America.

The key restraining factors in the fiber optics gyroscope market is the highly complex manufacturing process and demanding cycle time as well as the capital-intensive applications in this market. EMCORE Corporation (U.S.) designs and manufactures optical chips, components, systems and subsystems for the broadband and specialty fiber optics gyroscope market. The company provides advanced fiber optics gyroscope and navigation systems to the U.S. The company focuses on innovative products development strategies to strengthen its position in the fiber optics gyroscope market

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