The global fiber optic gyroscope market is estimated to be valued at USD 1.6 billion in 2023. The market is projected to reach USD 3.6 billion by 2033, exhibiting a CAGR of 8.4% from 2023 to 2033. This entails the increasing use of inertial navigation devices in autonomous combat vehicles and airborne monitoring systems, which is anticipated to boost demand for fiber optic gyroscopes in the aerospace and defense industries.
The swift deployment of drones and unmanned aerial vehicles (UAVs) in the defense and commercial industries has been identified as a key market driver. Several emerging economies have raised their defense investment.
China and Japan are two developing nations with substantial requirements for fiber optics gyroscopes globally. Other variables contributing to this growth include an extensive population base, a spike in R&D activities, swift industrialization, and significant expenditure on sensor advancement.
| Attributes | Details |
|---|---|
| Fiber Optic Gyroscope Market Value (2022) | USD 1.5 billion |
| Fiber Optic Gyroscope Market Value (2023) | USD 1.6 billion |
| Fiber Optic Gyroscope Market Expected Value (2033) | USD 3.6 billion |
| Fiber Optic Gyroscope Market Projected CAGR (2023 to 2033) | 8.4% |
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FMI has projected the global fiber optic gyroscope market to witness a growth in revenue from USD 1.6 billion in 2023 to USD 3.6 billion by 2033.
Fiber optic gyroscopes (FOGs) are employed in a variety of crucial applications, including navigation and positioning solutions, angular velocity sensors, stabilization devices, and, most recently, autonomous vehicle guidance backup apparatus to navigate GPS-inaccessible areas. FOGs are anticipated to be a critical component of inertial indicators that determine how a driverless car moves through a curve.
FOGs are required for autonomous vehicles to navigate and stabilize the infrastructure in demanding battlefield, aerospace, and undersea environments. As automakers strive for extreme ruggedness, small-size, lightweight, inexpensive, and low-power procedures in their vehicles, FOG technology is in huge demand in this category. The fiber optic gyroscope market was estimated to grow at a CAGR of 6.3% from 2018 to 2022
Aside from increased defense budgets in several developed and developing nations, the surging adoption of automation in residencies and industries is the primary factor driving demand for fiber optic gyroscopes.
The demand for intelligent sensor-enabled equipment for satellite antenna positioning, navigation, and other applications is increasing. Another attribute boosting demand in this market is the rising popularity and advancement of the concept of remotely operated vehicles, as well as the implementation of FOG for measurement during drilling procedures in the oil industry.
Although there is an enormous demand for fiber optics gyroscope in the market, the complex, expensive, and time-consuming production procedure is a major prohibiting factor that creates restrictions in practicing fiber optics gyroscope, and this impedes its market expansion to some extent.
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Because of the widespread use of fiber optic gyroscopes in defense-related tasks such as missile flight management, ground identification, and evolving Global Positioning System (GPS) tracking, the defense industry continues to be one of the largest end-users of fiber optic gyroscopes. This, combined with increased defense investment in the United States and Europe, will drive up demand for fibred optic gyroscopes.
Although there is an enormous demand for fiber optics gyroscopes in the market, the complex, expensive, and time-consuming production procedure is a major prohibiting factor that creates restrictions in practicing fiber optics gyroscopes, and this impedes its market expansion to some extent.
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According to the report, the United States was predicted to account for a market share of 22.2% in 2022. According to the United States Department of Defense, military spending in the United States is USD 934 billion, the second-largest item in the federal budget after Social Security. The Department of Defense alone spends USD 705 billion of that total. FOG is primarily employed in military usages such as RADAR systems, electronic surveillance, GPS, navigation, and ATC (Air Traffic Control), among other things.
The nation also has numerous key players, including Honeywell International Inc., FOG Software Group, EMCORE Corporation, and KVH Industries, Inc., which advances FOG-based automation technology, military usage, aeronautical applications, and others. The country's expenditure on military applications has increased significantly over the years, driving up demand for FOG.
KVH Industries, Inc., which has a remarkable presence in the United States, declared a partnership with Lockheed Martin in April 2021 to develop and deliver the IRST21 sensor solution's next-generation multi-axis FOG sensor.
IRST21 used infrared and other sensor technologies to determine and track airborne threats with weapon-grade accuracy, improving pilot reaction time and survivability. Such breakthroughs have been taking place in the country, thereby increasing demand for fiber optic gyroscopes in the United States.
The fiber optic gyroscope market in the United Kingdom is anticipated to accumulate a revenue share of 12.7%. The United Kingdom spends more money on defense than any other European country. It has enhanced its defense expenditure since the end of the Cold War to spend on shipbuilding, space, and cyber.
The adoption of advanced technologies such as automation in industries, warehouses, buildings, and homes drives FOG requirements in the United Kingdom. Additionally, digital transformation and rapidly increasing connectivity as a result of digital transformation, as well as surging demand for sophisticated aerospace technologies, drive demand for FOG in the United Kingdom.
The fiber optic gyroscope market in India is anticipated to accumulate a revenue share of 13.7%. India is a developing economy that is expected to provide a favorable market for fiber optic gyroscope vendors. India's defense/military spending has increased significantly over the years. The majority of FOG is used in aerospace and aviation technologies. Increased demand for military applications will drive fiber optic gyroscope market growth.
In recent years, the country has witnessed an upsurge in demand for RF filters in applications such as electronic surveillance, GPS, navigation, and smartphones to transit, filter, and receive paths for 3G and 4G technologies, which augments the requirement for fiber optic gyroscopes.
Owing to digital transformation and the rising demand for wireless systems/automation technology, the nation is experiencing rapid expansion in digital transformation and swiftly rising connectivity.
The 1 Axis segment was estimated to account for an impressive market share of 42.3% in 2022. The 3-axis fiber optic gyroscope has the potential to meet both the inexpensive, compact-sized, and efficient inertial navigation and accurate applications in spacecraft.
This kind of gyroscope is used for determining vehicle, beneath the water, and aerospace attitude. High-precision 3-axis fiber optic gyroscopes and quartz flexible accelerometers are used for northward seeking and placement, and they are extensively incorporated in Inertial Navigation Systems (INS) for autonomous navigation.
The increasing use of 3-axis FOG sensors in robotic cars, submersibles, and spacecraft is anticipated to drive fiber optics gyroscope market development.
In 2022, the Internal Navigation Systems segment was expected to account for 44.8% of the market. An Inertial Navigation System (INS) is made up of FOGs and accelerometers, which can be used to determine whether the vehicle is heading backward, forward, left, or right. The relative orientation and location of an object can be identified by tracking the present linear acceleration of the framework as well as the current angular velocity of the machine relative to the object in motion.
These systems are used in navigation applications where precision and efficiency, as well as size and cost, are critical. Because of advancements in navigation system technology, the inertial navigation system market is expected to grow significantly in the near future.
To achieve a competitive edge, market participants are concentrating on innovation and strategic collaborations.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.4% from 2023 to 2033 |
| Market Value in 2023 | USD 1.6 billion |
| Market Value in 2033 | USD 3.6 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Segments Covered | Sensing Axis, Device, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | KVH Industries Inc.; EMCORE Corporation; FIBERPRO, Inc.; Saab; Honeywell; Tamagawa Seiki Co., Ltd.; Optolink; NedAero Components B.V; iXblue; Fizoptika; Safran; Cielo Inertial Solutions; Ericco International; Fibernetics LLC; Northrop Grumman Sperry Marine B.V. |
| Customization & Pricing | Available upon Request |
The net worth of the market is expected to be USD 1.6 billion in 2023.
The market is calculated to expand at a CAGR of 8.4% through 2033.
The market expanded at a CAGR of 6.3% from 2018 to 2022.
The market is being shaped by the soaring adoption of automation in industries and residencies.
Surging popularity of FOGs to develop wireless communication system.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sensing Axis 5.1. 1-Axis 5.2. 2-Axis 5.3. 3-Axis 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Device 6.1. Optics Gyrocompass 6.2. Inertial Measurement Units (IMUs) 6.3. Inertial Navigation Systems 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Aeronautics and Aviation 7.2. Robotics 7.3. Remotely Operated Vehicle Guidance 7.3.1. Unmanned Underwater Vehicle (UUV) 7.3.2. Unmanned Ground Vehicle (UGV) 7.3.3. Unmanned Aerial Vehicle (UAV) 7.4. Military & Defense 7.5. Industrial 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. KVH Industries, Inc. 16.2. EMCORE Corporation 16.3. FIBERPRO, Inc. 16.4. Saab 16.5. Honeywell 16.6. Tamagawa Seiki Co., Ltd. 16.7. Optolink 16.8. NedAero Components B.V 16.9. iXblue 16.10. Fizoptika 16.11. Safran 16.12. Cielo Inertial Solutions 16.13. Ericco International 16.14. Fibernetics LLC 16.15. Northrop Grumman Sperry Marine B.V. 17. Assumptions & Acronyms Used 18. Research Methodology
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Fiber Optic Gyroscope Market
