Press release
Transforming the Ring Laser Gyroscope Market in 2025: Impact Of Increasing Aircraft Production On The Ring Laser Gyroscope Market
"What Is the Expected Size and Growth Rate of the Ring Laser Gyroscope Market?
In recent times, the market for ring laser gyroscopes has experienced considerable growth. It is expected to increase from $0.91 billion in 2024 to $0.96 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.6%. This past growth has been spurred by a rise in the need for accurate navigation, a broadening scope in aerospace and defense sectors, technological advances, an expansion in military expenditure, the creation of self-operating systems, and an uptick in demand for high-accuracy instruments.
In the coming years, the ring laser gyroscope market is predicted to witness substantial growth, escalating to $1.18 billion by 2029 with a compound annual growth rate (CAGR) of 5.3%. This anticipated expansion during the forecast period is due to factors like a surge in aerospace technology investments, the growing sector of autonomous vehicles, advancements in the miniaturization of the gyroscope, increased emphasis on defense modernisation, the invention of high-performance gyrocompasses, and association with new emerging technologies. Within the forecast period, significant trends include its amalgamation with inertial navigation systems, progression in fiber-optic gyroscopes, improved data processing capabilities, the advent of hybrid systems, miniaturization trends, a focus on enhancing reliability and durability, and developments in calibration techniques.
What Factors Are Fueling Growth in the Ring Laser Gyroscope Market?
The acceleration in the aviation industry is projected to substantially boost the ring laser gyroscope market's expansion. The term aircraft encompasses all vehicles designed for flight, from airplanes and helicopters to drones, which are utilized in commercial, military, and private aviation sectors. The surge in aviation is propelled by a growing global demand for air travel, stimulated by economic expansion, increased disposable income, and the rise of the middle class, particularly in emerging economies. Furthermore, the worldwide expansion of trade and e-commerce is triggering cargo aircraft demand for the rapid and efficient transportation of goods. A ring laser gyroscope (RLG), an important component of aviation and aircraft systems, accurately gauges rotational motion which is vital for navigation, flight control, and stability. For example, the International Air Transport Association, based in Canada, reported in June 2023, that global aircraft deliveries in 2022 had hit 1,239, marking a growth of 19.1% from 2021. This considerable increase signals a tremendous rebound in the aviation sector. Thus, the swift rise in aviation is catalysing the growth of the ring laser gyroscope market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20614&type=smp
Which Leading Companies Are Shaping the Growth of the Ring Laser Gyroscope Market?
Major companies operating in the ring laser gyroscope market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc, Safran Electronics And Defense SAS, Thales Group, L3Harris Technologies Inc., Analog Devices Inc., Elbit Systems Ltd., Teledyne Technologies Inc., QinetiQ Group plc, SRI International, Kearfott Corporation, IXBLUE SAS, MEMSIC Inc., Silex Microsystems AB, Emcore Corporation, Vicon Motion Systems Ltd., Control Technologies Inc., Applanix Corporation, Aerospace Technologies Group, Northrop Grumman LITEF GmbH, CMC Microsystems, JAI A/S, Navtech Inc.
Which Leading Companies Are Shaping the Growth of the Market?
Prominent players in the ring laser gyroscope market are concentrating on incorporating advanced technologies such as standalone ring laser gyro inertial navigation systems to enhance their system functionalities and create a competitive edge in sophisticated applications. These self-sustained systems leverage ring laser gyroscopes, eliminating the need for any external references, by delivering accurate, and independent navigation and orientation. For instance, in May 2023, Honeywell International Inc., the US-based tech firm which produces aerospace and automotive commodities, clinched a deal worth $12 million with the U.S. Navy to supply ring laser gyroscopes for the AN/WSN-7 inertial navigation system used on both surface warships and submarines. The AN/WSN-7 is an independent system that records ship movement and computes precise velocity, position, heading, and attitude. It substitutes old spinning-mass gyro systems with a more trustworthy solution based on ring laser gyros. These ring laser gyros provide improved reliability, precision and are smaller in size compared to previous technologies. They play a crucial role in prolonging the lifespan of the AN/WSN-7 while a new substitution system is under development.
What Are the Key Segments of the Ring Laser Gyroscope Market?
The ring laser gyroscope market covered in this report is segmented -
1) By Number of Axis: Single Axis, Multiple Axis
2) By Application: Platform Stabilization, Missile Navigation, Aeronautics Navigation, Submarine Navigation, Other Applications
3) By End User: Commercial, Defense, Spacecraft, Other End Users
Subsegments:
1) By Single Axis: 1-Axis Ring Laser Gyroscopes, Applications In Navigation Systems, Integration With Inertial Measurement Units (IMUs)
2) By Multiple Axis: 2-Axis Ring Laser Gyroscopes, 3-Axis Ring Laser Gyroscopes, Applications In Aerospace And Defense, Use In Automotive Navigation Systems, Integration With Advanced Navigation Systems
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/ring-laser-gyroscope-global-market-report
Which Region Dominates the Ring Laser Gyroscope Market?
North America was the largest region in the ring laser gyroscope market in 2024. The regions covered in the ring laser gyroscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Ring Laser Gyroscope Global Market Report?
- Market Size Analysis: Analyze the ring laser gyroscope Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the ring laser gyroscope market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall ring laser gyroscope market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the ring laser gyroscope market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20614
"
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
•LinkedIn: https://in.linkedin.com/company/the-business-research-company
•Twitter: https://twitter.com/tbrc_info
•YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
In recent times, the market for ring laser gyroscopes has experienced considerable growth. It is expected to increase from $0.91 billion in 2024 to $0.96 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.6%. This past growth has been spurred by a rise in the need for accurate navigation, a broadening scope in aerospace and defense sectors, technological advances, an expansion in military expenditure, the creation of self-operating systems, and an uptick in demand for high-accuracy instruments.
In the coming years, the ring laser gyroscope market is predicted to witness substantial growth, escalating to $1.18 billion by 2029 with a compound annual growth rate (CAGR) of 5.3%. This anticipated expansion during the forecast period is due to factors like a surge in aerospace technology investments, the growing sector of autonomous vehicles, advancements in the miniaturization of the gyroscope, increased emphasis on defense modernisation, the invention of high-performance gyrocompasses, and association with new emerging technologies. Within the forecast period, significant trends include its amalgamation with inertial navigation systems, progression in fiber-optic gyroscopes, improved data processing capabilities, the advent of hybrid systems, miniaturization trends, a focus on enhancing reliability and durability, and developments in calibration techniques.
What Factors Are Fueling Growth in the Ring Laser Gyroscope Market?
The acceleration in the aviation industry is projected to substantially boost the ring laser gyroscope market's expansion. The term aircraft encompasses all vehicles designed for flight, from airplanes and helicopters to drones, which are utilized in commercial, military, and private aviation sectors. The surge in aviation is propelled by a growing global demand for air travel, stimulated by economic expansion, increased disposable income, and the rise of the middle class, particularly in emerging economies. Furthermore, the worldwide expansion of trade and e-commerce is triggering cargo aircraft demand for the rapid and efficient transportation of goods. A ring laser gyroscope (RLG), an important component of aviation and aircraft systems, accurately gauges rotational motion which is vital for navigation, flight control, and stability. For example, the International Air Transport Association, based in Canada, reported in June 2023, that global aircraft deliveries in 2022 had hit 1,239, marking a growth of 19.1% from 2021. This considerable increase signals a tremendous rebound in the aviation sector. Thus, the swift rise in aviation is catalysing the growth of the ring laser gyroscope market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20614&type=smp
Which Leading Companies Are Shaping the Growth of the Ring Laser Gyroscope Market?
Major companies operating in the ring laser gyroscope market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc, Safran Electronics And Defense SAS, Thales Group, L3Harris Technologies Inc., Analog Devices Inc., Elbit Systems Ltd., Teledyne Technologies Inc., QinetiQ Group plc, SRI International, Kearfott Corporation, IXBLUE SAS, MEMSIC Inc., Silex Microsystems AB, Emcore Corporation, Vicon Motion Systems Ltd., Control Technologies Inc., Applanix Corporation, Aerospace Technologies Group, Northrop Grumman LITEF GmbH, CMC Microsystems, JAI A/S, Navtech Inc.
Which Leading Companies Are Shaping the Growth of the Market?
Prominent players in the ring laser gyroscope market are concentrating on incorporating advanced technologies such as standalone ring laser gyro inertial navigation systems to enhance their system functionalities and create a competitive edge in sophisticated applications. These self-sustained systems leverage ring laser gyroscopes, eliminating the need for any external references, by delivering accurate, and independent navigation and orientation. For instance, in May 2023, Honeywell International Inc., the US-based tech firm which produces aerospace and automotive commodities, clinched a deal worth $12 million with the U.S. Navy to supply ring laser gyroscopes for the AN/WSN-7 inertial navigation system used on both surface warships and submarines. The AN/WSN-7 is an independent system that records ship movement and computes precise velocity, position, heading, and attitude. It substitutes old spinning-mass gyro systems with a more trustworthy solution based on ring laser gyros. These ring laser gyros provide improved reliability, precision and are smaller in size compared to previous technologies. They play a crucial role in prolonging the lifespan of the AN/WSN-7 while a new substitution system is under development.
What Are the Key Segments of the Ring Laser Gyroscope Market?
The ring laser gyroscope market covered in this report is segmented -
1) By Number of Axis: Single Axis, Multiple Axis
2) By Application: Platform Stabilization, Missile Navigation, Aeronautics Navigation, Submarine Navigation, Other Applications
3) By End User: Commercial, Defense, Spacecraft, Other End Users
Subsegments:
1) By Single Axis: 1-Axis Ring Laser Gyroscopes, Applications In Navigation Systems, Integration With Inertial Measurement Units (IMUs)
2) By Multiple Axis: 2-Axis Ring Laser Gyroscopes, 3-Axis Ring Laser Gyroscopes, Applications In Aerospace And Defense, Use In Automotive Navigation Systems, Integration With Advanced Navigation Systems
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/ring-laser-gyroscope-global-market-report
Which Region Dominates the Ring Laser Gyroscope Market?
North America was the largest region in the ring laser gyroscope market in 2024. The regions covered in the ring laser gyroscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Ring Laser Gyroscope Global Market Report?
- Market Size Analysis: Analyze the ring laser gyroscope Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the ring laser gyroscope market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall ring laser gyroscope market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the ring laser gyroscope market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20614
"
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
•LinkedIn: https://in.linkedin.com/company/the-business-research-company
•Twitter: https://twitter.com/tbrc_info
•YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
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