The fiber optic gyroscope market was valued at US$ 926.82 million in 2019 and is projected to reach US$ 1,330.19 million by 2027; it is expected to grow at a CAGR of 4.8% during 2020–2027. The benefits of fiber optic gyroscopes such as high rotational rate, no moving parts, and higher resolution over other alternatives, such as mechanical gyroscopes and ring laser gyroscope, are driving their adoption in the aerospace& defense, and industrial sectors. Further, the rising military expenditure worldwide owing to increasing geopolitical tension among major countries such as China, India, and Japan, coupled with surging use of these gyroscopes in remotely operated vehicles guidance applications is further fuelling the fiber optic gyroscope market growth.
By Device • • • •
Gyrocompass Inertial Measurement Unit Inertial Navigation System Attitude Heading Reference System
by Application • • • • • •
Remotely Operated Vehicle Guidance Aeronautics and Aviation Robotics Industrial Defense and Homeland Security Tactical Grade Applications
Leading Fiber Optic Gyroscope Market Players: • • • • • • • • • •
Advanced Navigation Cielo inertial Solutions Ltd. iXblue EMCORE Corporation FIZOPTIKA Honeywell International Inc. KVH Industries, Inc. NEDAERO Optolink Safran S.A