Gyroscope Market Size, Trends and Insights By Type (Mechanical Gyroscopes, Fiber Optic Gyroscopes (FOG), Ring Laser Gyroscopes (RLG), MEMS Gyroscopes, Hemispherical Resonator Gyroscopes (HRG), Others), By Technology (Mechanical Gyroscopes, MEMS (Micro-Electro-Mechanical Systems) Gyroscopes, Ring Laser Gyroscopes, Fiber Optic Gyroscopes, Hemispherical Resonator Gyroscopes), By End Use Industry (Aerospace, Defense, Consumer Electronics, Automotive, Healthcare, Industrial Manufacturing, Robotics and Automation), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Honeywell International Inc.
- Northrop Grumman Corporation
- Thales Group
- Safran Electronics & Defense
- Murata Manufacturing Co. Ltd.
- Others
Reports Description
Global Gyroscope Market was valued at USD 4.32 Billion in 2024 and is expected to reach USD 7.36 Billion by 2033, at a CAGR of 6.10% during the forecast period 2024 – 2033.
A gyroscope is a device used to measure or maintain orientation and angular velocity. It typically consists of a spinning wheel or disk mounted on a frame, allowing it to resist orientation changes and maintain stability.
Gyroscope Market: Growth Factors
Growing demand for accurate targeting and stabilization systems
The integration of gyroscopes in aerospace and defense applications serves as a major driving factor for Gyroscope Market. Gyroscopes constitute indispensable components within aerospace and defense systems, facilitating critical functions such as navigation, guidance, and stabilization.
In aircraft and missiles, gyroscopic sensors play a paramount role in ensuring precise navigation and targeting, thus significantly enhancing military capabilities.
By providing accurate orientation and motion data, gyroscopes enable aircraft to maintain stable flight paths and missiles to accurately track and intercept targets, thereby bolstering the effectiveness of defense operations.
The continuous advancements in gyroscopic technology further propel market growth within the aerospace and defense sectors. Innovations in gyroscopic sensors lead to enhanced accuracy, reliability, and performance of navigation and guidance systems, meeting the evolving demands of modern warfare scenarios.
As defense agencies worldwide prioritize the development and deployment of advanced aerospace and defense systems, the demand for gyroscopic technology is poised to escalate. This growing demand not only drives market expansion but also stimulates innovation and investment in gyroscopic technology, positioning it as a critical enabler of military superiority and defense capabilities on a global scale.
VR and AR market expansion fuels demand for gyroscopes
The expansion of Virtual Reality (VR) and Augmented Reality (AR) markets significantly drives the demand for gyroscopes, positioning them as a key market growth driver. VR and AR technologies heavily rely on gyroscopic sensors for precise motion tracking, enabling users to experience immersive and realistic environments.
Companies at the forefront of VR and AR innovation, such as Oculus, integrate gyroscopic sensors into their headsets to track users’ head movements accurately. By leveraging gyroscopic technology, VR headsets can provide seamless and responsive interactions, enhancing the overall immersive experience for users.
This precise motion-tracking capability not only enhances realism but also enables users to interact more naturally with virtual environments, driving the adoption of VR and AR technologies across various industries.
As the VR and AR markets continue to expand, driven by technological advancements and increasing consumer interest, the demand for gyroscopic sensors is expected to surge. Gyroscopes play a crucial role in improving the accuracy and effectiveness of motion-tracking systems, thereby contributing to the growth and proliferation of VR and AR applications.
With the rising popularity of VR gaming, immersive experiences, and industrial applications, gyroscopic sensors are poised to play an integral role in shaping the future of VR and AR technologies, driving further market growth and innovation in this dynamic sector.
Gyroscope Market: Restraints
Cost-sensitive industries shift away from gyroscopic technology in favor of cheaper alternatives like accelerometers.
Competition from alternative sensor technologies hinders the growth of the gyroscopes market. Accelerometers and magnetometers, among others, emerge as formidable contenders offering comparable performance in specific applications at a lower cost.
For instance, in scenarios necessitating solely linear motion detection, accelerometers often provide a cost-effective substitute for gyroscopes. Similarly, magnetometers excel in delivering precise measurements of magnetic field strength and direction, serving as viable alternatives in orientation sensing applications.
This competition induces a perceptible shift in preference away from gyroscopic technology, particularly in industries or applications where the distinct advantages of gyroscopes are not paramount. Furthermore, the accessibility of alternative sensor technologies may engender the commoditization of gyroscopic sensors, thereby exerting downward pressure on prices and margins for manufacturers operating in this market segment.
To navigate this challenge effectively, gyroscope manufacturers must underscore the unique strengths of gyroscopic technology, especially in domains where it outperforms alternative sensors. These may include applications requiring precise rotational motion sensing and stabilization.
Moreover, fostering a culture of innovation remains imperative to enhancing the performance and cost-effectiveness of gyroscopic sensors relative to alternative technologies. Strategic collaborations and partnerships with end-users offer another avenue for manufacturers to gain insights into customer requirements and tailor their offerings accordingly.
By leveraging these strategies, gyroscope manufacturers can maintain their competitive edge in the market, despite the encroaching competition from alternative sensor technologies.
Gyroscope Market: Opportunities
Integration of Gyroscopic Sensors in Drones
The emergence of drone technology presents a significant market growth opportunity for gyroscopes. Drones, also known as unmanned aerial vehicles (UAVs), have witnessed a remarkable rise in adoption across various industries, including agriculture, surveillance, cinematography, and delivery services.
Gyroscopic sensors play a crucial role in enabling stable flight control and precise orientation in drones. By accurately measuring angular velocity and rotation, gyroscopes help drones maintain stability and maneuverability, even in challenging environmental conditions or during high-speed flights.
Companies at the forefront of drone manufacturing, such as DJI, heavily rely on gyroscopic technology to ensure the smooth and stable performance of their UAVs. Integration of gyroscopes allows drones to effectively navigate, stabilize, and adjust their orientation during flight, enhancing overall operational efficiency and safety.
As the demand for drones continues to surge, driven by advancements in technology and the expansion of applications, the market for gyroscopes experiences a corresponding growth trajectory. Manufacturers of gyroscopic sensors stand to benefit from the burgeoning drone industry, with opportunities to innovate and collaborate with drone manufacturers to meet the evolving demands of this dynamic market.
Gyroscope Market: Segmentation Analysis
The global Gyroscope market is segmented by Type, Technology, End Use Industry and region.
Based on Type, the market is classified into Mechanical Gyroscopes, Fiber Optic Gyroscopes (FOG), Ring Laser Gyroscopes (RLG), MEMS Gyroscopes, Hemispherical Resonator Gyroscopes (HRG), and others. Mechanical Gyroscopes dominated the market in 2023 with a market share of 26.28 % and is expected to keep its dominance during the forecast period 2024-2033.
The Gyroscope Market can be segmented based on various types of gyroscopes, each with unique characteristics and applications. Mechanical Gyroscopes, though traditional, still find application in some navigation systems where robustness and reliability are paramount, such as in aerospace and defense.
Fiber Optic Gyroscopes (FOG), known for their high accuracy and precision, are extensively adopted in aerospace, marine navigation, and oil exploration due to their ability to measure angular velocity accurately. Ring Laser Gyroscopes (RLG) is favored in high-precision applications like inertial navigation systems for spacecraft and aircraft, offering exceptional sensitivity and stability.
MEMS Gyroscopes, being small and cost-effective, find widespread use in consumer electronics such as smartphones, gaming controllers, and drones for motion sensing and orientation tracking. Hemispherical Resonator Gyroscopes (HRG), with their high stability and low noise, are utilized in aerospace, defense, and satellite applications where long-term performance and reliability are critical. Other emerging gyroscopic technologies cater to niche applications, driving innovation and expanding the market’s scope.
Based on technology, the market is classified into MEMS (Micro-Electro-Mechanical Systems) Gyroscopes, Ring Laser Gyroscopes, Fiber Optic Gyroscopes, and Hemispherical Resonator Gyroscopes. Mechanical Gyroscopes dominated the market in 2023 with a market share of 39.25 % and is expected to keep its dominance during the forecast period 2024-2033.
Mechanical Gyroscopes, characterized by their robustness and reliability, find utility in aerospace, defense, and marine navigation systems where high precision and durability are paramount.
MEMS (Micro-Electro-Mechanical Systems) Gyroscopes, known for their small size, low cost, and versatility, are widely adopted in consumer electronics such as smartphones, gaming consoles, and wearable devices for motion sensing and orientation tracking.
Ring Laser Gyroscopes, prized for their exceptional sensitivity and accuracy, are favored in aerospace, defense, and high-precision navigation systems for aircraft, spacecraft, and missiles. Fiber Optic Gyroscopes (FOG), with their inherent advantages of high accuracy, immunity to electromagnetic interference, and long-term stability, are extensively utilized in aerospace, defense, and industrial applications, including unmanned aerial vehicles (UAVs), oil exploration, and gyro-stabilized platforms.
Hemispherical Resonator Gyroscopes (HRG), known for their ultra-high stability and low noise, find niche applications in aerospace, defense, and satellite systems where long-term performance and reliability are critical.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 4.32 Billion |
| Projected Market Size in 2033 | USD 7.36 Billion |
| Market Size in 2023 | USD 4.07 Billion |
| CAGR Growth Rate | 6.10% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Technology, End Use Industry and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Gyroscope Market: Regional Analysis
North America dominated the Gyroscope Market in 2023 as in the United States, the market is driven by robust demand from the aerospace and defense sectors, where gyroscopes are extensively used in navigation systems for aircraft, missiles, and unmanned aerial vehicles (UAVs).
Europe, home to major aerospace and automotive industries, also witnesses significant adoption of gyroscopes in navigation, stabilization, and motion sensing applications. The Asia-Pacific region, led by countries like China, Japan, and South Korea, is experiencing a surge in demand for gyroscopes driven by the booming consumer electronics market, as well as the rapid expansion of industries such as automotive, aerospace, and robotics.
In Latin America, gyroscopes find applications in sectors like agriculture, transportation, and industrial manufacturing, albeit to a lesser extent than in other regions. The Middle East & Africa region, though relatively smaller in market size, demonstrates growing adoption of gyroscopes in defense, oil & gas exploration, and infrastructure development projects, reflecting the region’s economic diversification efforts and increasing technological investments.
Gyroscope Market: Recent Developments
- in January 2024, Murata Manufacturing introduced the SCH16T-K01 sensor integrating gyroscope and accelerometer capabilities for precise sensing in various applications, including machine control. Utilizing advanced MEMS technology, this innovation promises top-notch performance. Likewise, STMicroelectronics unveiled the ASM330LHHXG1 IMU.
- In November 2023, designed specifically for automotive applications. This AI-powered IMU boasts improved energy efficiency and operates reliably in temperatures up to 125°C, representing significant progress in gyroscopic technology across industries.
- In October 2023, Honeywell expanded its HGuide industrial navigation lineup with the launch of the HGuide i400 Inertial Measurement Unit (IMU). Designed for defense, industrial, and autonomous applications across various vehicles, this IMU sets a new standard for precision with a Gyro Bias Repeatability of less than one degree per hour.
List of the prominent players in the Gyroscope Market:
- Honeywell International Inc.
- Northrop Grumman Corporation
- Thales Group
- Safran Electronics & Defense
- Murata Manufacturing Co. Ltd.
- STMicroelectronics N.V.
- Analog Devices Inc.
- Bosch Sensortec GmbH
- InvenSense Inc.
- KVH Industries Inc.
- Colibrys
- Kionix Inc.
- Trimble Navigation Ltd.
- Moog Inc.
- TDK Corporation
- NXP Semiconductors N.V.
- Silicon Sensing Systems Ltd.
- Sensonor AS
- Memsic Inc.
- Epson Toyocom Corporation
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Gyroscope Market is segmented as follows:
By Type
- Mechanical Gyroscopes
- Fiber Optic Gyroscopes (FOG)
- Ring Laser Gyroscopes (RLG)
- MEMS Gyroscopes
- Hemispherical Resonator Gyroscopes (HRG)
- Others
By Technology
- Mechanical Gyroscopes
- MEMS (Micro-Electro-Mechanical Systems) Gyroscopes
- Ring Laser Gyroscopes
- Fiber Optic Gyroscopes
- Hemispherical Resonator Gyroscopes
By End Use Industry
- Aerospace
- Defense
- Consumer Electronics
- Automotive
- Healthcare
- Industrial Manufacturing
- Robotics and Automation
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Gyroscope Market, (2024 – 2033) (USD Billion)
- 2.2 Global Gyroscope Market: snapshot
- Chapter 3. Global Gyroscope Market – Industry Analysis
- 3.1 Gyroscope Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growing demand for accurate targeting and stabilization systems
- 3.2.2 VR and AR market expansion fuels demand for gyroscopes
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Technology
- 3.7.3 Market Attractiveness Analysis By End Use Industry
- Chapter 4. Global Gyroscope Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Gyroscope Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Gyroscope Market – Type Analysis
- 5.1 Global Gyroscope Market Overview: By Type
- 5.1.1 Global Gyroscope Market Share, By Type, 2023 and 2033
- 5.2 Mechanical Gyroscopes
- 5.2.1 Global Gyroscope Market by Mechanical Gyroscopes, 2024 – 2033 (USD Billion)
- 5.3 Fiber Optic Gyroscopes (FOG)
- 5.3.1 Global Gyroscope Market by Fiber Optic Gyroscopes (FOG), 2024 – 2033 (USD Billion)
- 5.4 Ring Laser Gyroscopes (RLG)
- 5.4.1 Global Gyroscope Market by Ring Laser Gyroscopes (RLG), 2024 – 2033 (USD Billion)
- 5.5 MEMS Gyroscopes
- 5.5.1 Global Gyroscope Market by MEMS Gyroscopes, 2024 – 2033 (USD Billion)
- 5.6 Hemispherical Resonator Gyroscopes (HRG)
- 5.6.1 Global Gyroscope Market by Hemispherical Resonator Gyroscopes (HRG), 2024 – 2033 (USD Billion)
- 5.7 Others
- 5.7.1 Global Gyroscope Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Gyroscope Market Overview: By Type
- Chapter 6. Global Gyroscope Market – Technology Analysis
- 6.1 Global Gyroscope Market Overview: By Technology
- 6.1.1 Global Gyroscope Market Share, By Technology, 2023 and 2033
- 6.2 Mechanical Gyroscopes
- 6.2.1 Global Gyroscope Market by Mechanical Gyroscopes, 2024 – 2033 (USD Billion)
- 6.3 MEMS (Micro-Electro-Mechanical Systems) Gyroscopes
- 6.3.1 Global Gyroscope Market by MEMS (Micro-Electro-Mechanical Systems) Gyroscopes, 2024 – 2033 (USD Billion)
- 6.4 Ring Laser Gyroscopes
- 6.4.1 Global Gyroscope Market by Ring Laser Gyroscopes, 2024 – 2033 (USD Billion)
- 6.5 Fiber Optic Gyroscopes
- 6.5.1 Global Gyroscope Market by Fiber Optic Gyroscopes, 2024 – 2033 (USD Billion)
- 6.6 Hemispherical Resonator Gyroscopes
- 6.6.1 Global Gyroscope Market by Hemispherical Resonator Gyroscopes, 2024 – 2033 (USD Billion)
- 6.1 Global Gyroscope Market Overview: By Technology
- Chapter 7. Global Gyroscope Market – End Use Industry Analysis
- 7.1 Global Gyroscope Market Overview: By End Use Industry
- 7.1.1 Global Gyroscope Market Share, By End Use Industry, 2023 and 2033
- 7.2 Aerospace
- 7.2.1 Global Gyroscope Market by Aerospace, 2024 – 2033 (USD Billion)
- 7.3 Defense
- 7.3.1 Global Gyroscope Market by Defense, 2024 – 2033 (USD Billion)
- 7.4 Consumer Electronics
- 7.4.1 Global Gyroscope Market by Consumer Electronics, 2024 – 2033 (USD Billion)
- 7.5 Automotive
- 7.5.1 Global Gyroscope Market by Automotive, 2024 – 2033 (USD Billion)
- 7.6 Healthcare
- 7.6.1 Global Gyroscope Market by Healthcare, 2024 – 2033 (USD Billion)
- 7.7 Industrial Manufacturing
- 7.7.1 Global Gyroscope Market by Industrial Manufacturing, 2024 – 2033 (USD Billion)
- 7.8 Robotics and Automation
- 7.8.1 Global Gyroscope Market by Robotics and Automation, 2024 – 2033 (USD Billion)
- 7.1 Global Gyroscope Market Overview: By End Use Industry
- Chapter 8. Gyroscope Market – Regional Analysis
- 8.1 Global Gyroscope Market Regional Overview
- 8.2 Global Gyroscope Market Share, by Region, 2023 & 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Gyroscope Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.4 North America Gyroscope Market, by Type, 2024 – 2033
- 8.4.1 North America Gyroscope Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Gyroscope Market, by Technology, 2024 – 2033
- 8.5.1 North America Gyroscope Market, by Technology, 2024 – 2033 (USD Billion)
- 8.6 North America Gyroscope Market, by End Use Industry, 2024 – 2033
- 8.6.1 North America Gyroscope Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Gyroscope Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Gyroscope Market, by Type, 2024 – 2033
- 8.8.1 Europe Gyroscope Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Gyroscope Market, by Technology, 2024 – 2033
- 8.9.1 Europe Gyroscope Market, by Technology, 2024 – 2033 (USD Billion)
- 8.10 Europe Gyroscope Market, by End Use Industry, 2024 – 2033
- 8.10.1 Europe Gyroscope Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Gyroscope Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Gyroscope Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Gyroscope Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Gyroscope Market, by Technology, 2024 – 2033
- 8.13.1 Asia Pacific Gyroscope Market, by Technology, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Gyroscope Market, by End Use Industry, 2024 – 2033
- 8.14.1 Asia Pacific Gyroscope Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Gyroscope Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Gyroscope Market, by Type, 2024 – 2033
- 8.16.1 Latin America Gyroscope Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Gyroscope Market, by Technology, 2024 – 2033
- 8.17.1 Latin America Gyroscope Market, by Technology, 2024 – 2033 (USD Billion)
- 8.18 Latin America Gyroscope Market, by End Use Industry, 2024 – 2033
- 8.18.1 Latin America Gyroscope Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Gyroscope Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Gyroscope Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Gyroscope Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Gyroscope Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Gyroscope Market, by Technology, 2024 – 2033
- 8.21.1 The Middle-East and Africa Gyroscope Market, by Technology, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Gyroscope Market, by End Use Industry, 2024 – 2033
- 8.22.1 The Middle-East and Africa Gyroscope Market, by End Use Industry, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Honeywell International Inc.
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Northrop Grumman Corporation
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Thales Group
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Safran Electronics & Defense
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Murata Manufacturing Co. Ltd.
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 STMicroelectronics N.V.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Analog Devices Inc.
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Bosch Sensortec GmbH
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 InvenSense Inc.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 KVH Industries Inc.
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Colibrys
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Kionix Inc.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Trimble Navigation Ltd.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Moog Inc.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 TDK Corporation
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 NXP Semiconductors N.V.
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Silicon Sensing Systems Ltd.
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Sensonor AS
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Memsic Inc.
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 Epson Toyocom Corporation
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 Honeywell International Inc.
List Of Figures
Figures No 1 to 34
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Honeywell International Inc.
- Northrop Grumman Corporation
- Thales Group
- Safran Electronics & Defense
- Murata Manufacturing Co. Ltd.
- STMicroelectronics N.V.
- Analog Devices Inc.
- Bosch Sensortec GmbH
- InvenSense Inc.
- KVH Industries Inc.
- Colibrys
- Kionix Inc.
- Trimble Navigation Ltd.
- Moog Inc.
- TDK Corporation
- NXP Semiconductors N.V.
- Silicon Sensing Systems Ltd.
- Sensonor AS
- Memsic Inc.
- Epson Toyocom Corporation
- Others
FAQs
The restraints of the Gyroscope marketis Cost-sensitive industries shift away from gyroscopic technology in favor of cheaper alternatives like accelerometers
The major driver for the Gyroscope marketis Growing demand for accurate targeting and stabilization systems.
The “Mechanical Gyroscopes” category dominated the market in 2023.
The key players in the market are Honeywell International Inc., Northrop Grumman Corporation, Thales Group, Safran Electronics & Defense, Murata Manufacturing Co. Ltd., STMicroelectronics N.V., Analog Devices Inc., Bosch Sensortec GmbH, InvenSense Inc., KVH Industries Inc., Colibrys, Kionix Inc., Trimble Navigation Ltd., Moog Inc., TDK Corporation, NXP Semiconductors N.V., Silicon Sensing Systems Ltd., Sensonor AS, Memsic Inc. , Epson Toyocom Corporation, Others.
“North America” had the largest share in the Gyroscope Market.
The global market is projected to grow at a CAGR of 6.10% during the forecast period, 2024-2033.
The Gyroscope Market size was valued at USD 4.32 Billion in 2024.