The Business Research Company’s report on the Gyroscope Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the gyroscope market further?
The rapidly growing adoption of drones and unmanned aerial vehicles (UAVs) in the defense and commercial sector has been expected to be a major driver in the market. An unmanned Aerial Vehicle (UAV) is an airborne system, or an aircraft operated remotely by a human operator or autonomously by an onboard computer for warfare and surveillance. Due to the increase in research and development, the rate of adoption of UAVs is rising. For instance, according to National Defense, a business technology magazine, worldwide research, development, and procurement spending on UAVs are projected to rise from $11.1 billion in 2020 to $14.3 billion by 2029.Moreover, R&D spending is forecasted to grow from $3.2 billion in 2020 to $4 billion in 2029, and procurement funding is projected to ramp up from $7.9 billion in 2020 to about $10.3 billion by the end of the decade. Such growing adoption of drones and UAVs are driving the gyroscope market growth.
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What are the key factors influencing the forecasted market size of the gyroscope industry?
The gyroscope market size has grown steadily in recent years. It will grow from $2.95 billion in 2024 to $3.1 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to consumer electronics adoption, automotive applications, aerospace and defense sector demand, industrial automation, medical devices.
The gyroscope market size is expected to see strong growth in the next few years. It will grow to $4.23 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to focus on energy efficiency and sustainability, increasing utilization in oil and gas industry, research and scientific instrumentation, rapid growth in wearables market, expanding telecommunications networks. Major trends in the forecast period include increased utilization in earthquake detection systems, development of hybrid sensors, integration into smart wearables for health monitoring, enhanced gyroscopic stabilization in cameras, energy harvesting solutions, diversification in medical applications.
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Who are the leading competitors in the gyroscope market?
Major companies operating in the gyroscope market include Analog Devices Inc., Colibrys Ltd., Fizoptika Corp., Honeywell International Inc., InnaLabs, InvenSense Inc., Kionix Inc., KVH Industries Inc., Murata Manufacturing Co. Ltd., Northrop Grumman Corporation, NXP Semiconductors N. V., Robert Bosch GmbH, Sensonor AS, STMicroelectronics Private Ltd., Systron Donner Inertial, TDK Corporation, Trimble Inc., Silicon Sensing Systems Limited, Emcore Corporation, Optolink LLC, Dynalabs Mühendislik LTD., Epson Europe Electronics GmbH, Safran Electronics & Defense, Thales Group, Raytheon Technologies Corporation, Rockwell Collins, UTC Aerospace Systems, Moog Inc., MEMSIC Inc., Gladiator Technologies, VectorNav Technologies
Which emerging trends are set to transform the gyroscope market landscape?
Technological innovation are shaping the gyroscope market. The performance of INS (Inertial navigation system), attention and heading reference systems (AHRS), or inertial measurement units (IMUs) for manned and unmanned aircraft, spacecraft, marine, and surface vehicles have influenced technological innovations in gyroscopes. For instance, in May 2022, Magnum Wings LLP, a Hyderabad-based electronic company, launched its first commercially available UAV- MW Viper in India. The ground survey, payload delivery, and surveillance missions are all made easier with the MW Viper’s enhanced operating capabilities and mission flexibility. The vertical take-off and landing capability of the MW viper allow it to hover, take off, and land vertically with a payload ranging from 5 to 60 kg.
How do different geographies compare in terms of market share and growth potential in the gyroscope market?
North America was the largest region in the gyroscope market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gyroscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the gyroscope market are experiencing the fastest growth?
The gyroscope market covered in this report is segmented –
1) By Type: Micro-Electro-Mechanical System (MEMS) Gyroscopes, Fiber Optic Gyroscope, Ring laser Gyroscope, Hemispherical Resonating Gyroscope, Dynamically Tuned Gyroscope
2) By Application: Electronics, Aerospace, Industrial Manufacturing, Automotive, Mining, Marine
Subsegments:
1) By Micro-Electro-Mechanical System (MEMS) Gyroscopes: Angular Rate Sensors, In-Run Alignment Gyroscopes
2) By Fiber Optic Gyroscope: Single Axis Fiber Optic Gyroscopes, Multi-Axis Fiber Optic Gyroscopes
3) By Ring Laser Gyroscope: Single Axis Ring Laser Gyroscopes, Multi-Axis Ring Laser Gyroscopes
4) By Hemispherical Resonating Gyroscope: Analog Hemispherical Gyroscopes, Digital Hemispherical Gyroscopes
5) By Dynamically Tuned Gyroscope: Mechanical Tuned Gyroscopes, Electronic Tuned Gyroscopes
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What defines the structure and scope of the gyroscope market?
Gyroscopes are devices organized on a frame and capable of sensing an angular velocity if the frame is rotating. Gyroscope is used in compasses, automatic pilots on ships, aircraft, and ballistic missiles, in the steering mechanisms of torpedoes, and in the inertial guidance systems installed in space launch vehicles, orbiting satellites, and virtual reality experiences. Gyroscopes are devices used to track the twists, turns, and rolls of an object in motion.
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