What are the effects of the pandemic on the high-end inertial sensor market?

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“In 2020, the COVID-19 pandemic has drastically affected all end-markets with various outlooks” asserts Dimitrios Damianos, PhD, Technology and Market Analyst, within the Photonics and Sensing division at Yole Développement (Yole). “Indeed, in 2019, Yole estimated that the global high-end inertial systems market was worth US$3.24 billion, which remains highly fragmented with many applications. In general, 2019 was a very good year for the aerospace and defense industries”.

The estimated global defense/military spending was approximately US$1,800 billion according to the SIPRI, with the US accounting for a record US$760 billion defense expenditure. High-end inertial units are one of the key components in these systems, for navigation, stabilization and other purposes.

The defense market expects no significant effect, since military programs are still running and budgets have already been allocated. There could possibly be some delay in shipments due to supply chain/logistics problems which could hinder annual growth. Nevertheless, there is a strong interest in resilient PNT solutions for GPS-denied environments and against GPS-jamming, when navigation is of paramount importance in critical missions.

In this context, Yole releases an updated version of the High-End Inertial Sensors for Defense, Aerospace and Industrial Applications 2020 report, including updated forecasts of volumes, market values and ASP of gyroscopes, accelerometers, IMU and INS. An updated version of the supply chain, and adjustments of end-system volumes are also part of this new study.

In addition, Yole’s partner, the technology and cost analysis company System Plus Consulting, delivers two dedicated reports:

Yole and System Plus Consulting shed lights on the post COVID-19 High-end inertial sensors industry… More info.

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