Ring Laser Gyroscope Market -Snapshot
Gyroscopes have been used for a long time in calculating angular rotation of a broad range of platforms ranging from naval ships to aircrafts and spacecrafts. Ring laser gyroscopes are primarily implemented in defense applications owing to their excellent measurement accuracy and of moving parts that are in mechanical gyroscopes. Manufacturers are involved in revolutionizing the technology of ring laser gyroscopes so as to minimize the problems such as injection locking associated with these devices. Although dithering has been employed by many manufacturers to minimize the locking errors, it results in increasing the weight of these devices. The global ring laser gyroscope market is anticipated to reach a market value of US$ 948.3 Mn by 2026, expanding at a compound annual growth rate of 3.5% during the forecast period 2018 to 2026.
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The global ring laser gyroscope market is largely driven by factors such as rising demand from defense applications focused on upgrading the existing navigation systems onboard the ships, and increasing spending on development of new defense vessels. Furthermore, incorporation of advance technology in unmanned aerial and underwater vehicles is supplementing the growth of the ring laser gyroscope market due to integration of ring laser gyroscopes in these vessels. Another factor supporting the growth of the ring laser gyroscope market is the rising demand from commercial applications, primarily commercial aircrafts and space exploration vehicles, fueled by inertial navigation system upgrade in commercial aircrafts and development of advanced ring laser gyroscopes for spacecraft.
The global ring laser gyroscope market has been segmented based on number of axis, application, end-user, and geography. Based on number of axis, the market is segmented into single axis and multi axes ring laser gyroscopes, among which single axis gyroscopes are anticipated to be the fastest growing market segment due to increasing demand from commercial applications. Based on application, the global ring laser gyroscope market is categorized into platform stabilization, missile navigation, aeronautics navigation, submarine navigation, and satellite navigation, among which satellite navigation is anticipated to dominate the market in terms of growth rate during the forecast period. Based on end-user, the market has been segmented into defense, commercial, and spacecraft. Spacecraft segment is anticipated to witness prominent growth rate during the forecast period. In terms of geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The global market in 2017 was dominated by North America owing to increased defense spending to upgrade the inertial navigation units onboard the naval vessels and defense aircrafts.
The market for ring laser gyroscopes is analyzed to be highly competitive with manufacturers focused on developing ring laser gyroscopes with reduced size and weight along with high precision and accuracy demanded from aerial applications. As a result of this, major players are engaged in extensive research and development to cater to the highly competitive market. Moreover, it has been observed that major defense contractors and government operated defense organizations, for instance Defense Research and Development Organization (DRDO) of India, are dominating the market in many parts of the globe. The research study includes profiles of leading companies operating in the global ring laser gyroscope. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. Some of the key players in the ring laser gyroscope market are Ericco International Limited, Heppel Photonics GmbH, Honeywell International Inc., Kearfott Corporation, Mitsubishi Precision Co., Ltd, Northrop Grumman Corporation, Optics Blazer AG, Safran Electronics & Defense SAS, Sperry Marine B.V, Teledyne CDL, Inc., and Xsens Technologies B.V. Various business strategies are being adopted by the market leaders, focused on business expansion by developing strategic partnerships to offer innovative solutions in the end-use market.
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Ring Laser Gyroscope Market to Witness High Demand from Aerospace and Defense Industry
Ring laser gyroscopes are mainly used by military applications on account of their excellent accuracy in measurement. This growing demand from the defense sector is expected to aid in expansion of the global ring laser gyroscope market. Gyroscopes have been utilized for quite a while in computing precise pivot of a wide scope of stages going from maritime boats to airplanes and rockets. Ring laser gyroscopes are essentially actualized in safeguard applications inferable from their phenomenal estimation exactness and of moving parts that are in mechanical gyroscopes. Makers are engaged with reforming the innovation of ring laser gyroscopes to limit the issues, for example, infusion locking related with these gadgets. Despite the fact that dithering has been utilized by numerous producers to limit the locking mistakes, it brings about expanding the heaviness of these gadgets.
The worldwide ring laser gyroscope market is generally determined by elements, for example, rising interest from guard applications zeroed in on redesigning the current route frameworks installed the boats, and expanding spending on improvement of new safeguard ships. Besides, joining of advance innovation in automated flying and submerged vehicles is enhancing the development of the ring laser gyroscope market because of incorporation of ring laser gyroscopes in these vessels. Another factor boosting the laser gyroscope market is the rising interest from business applications, basically business airplanes and space investigation vehicles, filled by inertial route framework redesign in business airplanes and improvement of cutting edge ring laser gyroscopes for shuttle.
The market for ring laser gyroscopes is investigated to be exceptionally serious with producers zeroed in on creating ring laser gyroscopes with diminished size and weight alongside high exactness and precision requested from airborne applications. Thus, significant players are occupied with broad innovative work to oblige the profoundly serious market.
