The fiber optic gyroscope market in APAC is expected to grow from US$ 230.67 million in 2019 to US$ 348.42 million by 2027; it is estimated to grow at a CAGR of 5.4% from 2020 to 2027.
Australia, China, India, Japan and South Korea and major economies in APAC. Adoption of fiber optic gyroscope in remotely operated vehicle is the major factor driving the growth of the APAC fiber optic gyroscope market. Remotely operated vehicle (ROV) guidance is one of the key application areas of fiber optic gyroscope market and it is projected to be the fast growing application over the forecast period of 2020 to 2027. The growing adoption of ROVs such as unmanned underwater vehicle, unmanned aerial vehicle, and unmanned ground vehicle across industries like oil & gas, energy & power, automotive, defense, and manufacturing is anticipated to drive the future adoption of fiber optic gyroscopes in these industries. In addition to this, the rising miniaturization trend in APAC fiber optic gyroscope market to offer efficient, light-weight, and compact gyroscope offerings and to meet the challenging size and performance demands of today’s industry applications is expected to drive technological advancements in the APAC fiber optic gyroscope market in the coming years. For instance, in the oil and gas sector, ROVs are widely being used for variety of applications such as oil exploration, research activities, undersea construction, and salvage operation and these ROVs need efficient inertial navigation systems for their operation. Hence, the increasing adoption of fiber optic gyroscopes in inertial navigation systems of these ROVs is expected to drive the future growth of APAC fiber optic gyroscope market.
Further, the ongoing COVID-19 is having a negative impact over APAC region.APAC region is one of the crucial regions for the future growth of fiber optic gyroscope market, owing to the presence of a large number of developing countries, positive economic outlook, high industrial presence, and favorable government policies. The high growth rate of urbanization and industrialization in developing countries of APAC region is anticipated to offer ample growth opportunities to the market players operating in the APAC fiber optic gyroscope market, as the investments in both military and civilian infrastructure development is quite high in the region. These factors make APAC a major growth market for the demand of fiber optic gyroscope systems. In addition to this, the increasing number of geopolitical disputes among countries such as India-China, China-Japan, and South Korea-North Korea is further driving the demand for fiber optic gyroscope systems especially in the military sector applications. However, the ongoing COVID-19 outbreak is causing huge disruptions in the growth of various sectors of APAC region.Due to COVID-19 outbreak, the industrial activities and new projects have seen a sharp decline with multiple projects on hold and unavailability of labor due to movement restrictions in various countries. Hence, the ongoing disruptions in supply of raw materials & components and also in demand from China & other Asian countries is expected to impact the growth of APAC fiber optic gyroscope market in coming quarters.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC fiber optic gyroscope market. The APAC fiber optic gyroscope market is expected to grow at a good CAGR during the forecast period.APAC Fiber Optic Gyroscope Market
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APAC Fiber Optic Gyroscope Market Segmentation
APAC Fiber Optic Gyroscope Market – By Sensing Axis
- 1-Axis
- 2-Axis
- 3-Axis
APAC Fiber Optic Gyroscope Market – By Device
- Gyrocompass
- Inertial Measurement Unit
- Inertial Navigation System
- Attitude Heading Reference System
APAC Fiber Optic Gyroscope Market – By Application
- Remotely Operated Vehicle Guidance
- Aeronautics and Aviation
- Robotics
- Industrial
- Defense and Homeland Security
- Tactical Grade Applications
APAC Fiber Optic Gyroscope Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Fiber Optic Gyroscope Market - Companies Mentioned
- Advanced Navigation
- Cielo inertial Solutions Ltd
- Emcore Corporation
- Honeywell International Inc
- ixblue
- KVH Industries, Inc.
- Safran Colibrys SA
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Sensing Axis, Device, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of The Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Fiber Optic Gyroscope Market – By Sensing Axis
1.3.2 APAC Fiber Optic Gyroscope Market – By Device
1.3.3 APAC Fiber Optic Gyroscope Market – By Application
1.3.4 APAC Fiber Optic Gyroscope Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Fiber Optic Gyroscope Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Fiber Optic Gyroscope –Market Dynamics
5.1 Market Drivers
5.1.1 Growing Aviation Industry and Mounting Defense Expenditure in APAC
5.2 Impact Analysis of Drivers and Restraints
6. Fiber Optic Gyroscope Market –APAC Analysis
6.1 APAC Fiber Optic Gyroscope Market Overview
6.2 APAC Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. APAC Fiber Optic Gyroscope Market Analysis – By Sensing Axis
7.1 Overview
7.2 APAC Fiber Optic Gyroscope Market, By Sensing Axis (2019 and 2027)
7.3 1-Axis
7.3.1 Overview
7.3.2 1-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
7.4 2-Axis
7.4.1 Overview
7.4.2 2-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
7.5 3-Axis
7.5.1 Overview
7.5.2 3-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
8. APAC Fiber Optic Gyroscope Market Analysis – By Device
8.1 Overview
8.2 APAC Fiber Optic Gyroscope Market, By Device (2019 and 2027)
8.3 Gyrocompass
8.3.1 Overview
8.3.2 Gyrocompass: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Inertial Measurement Unit
8.4.1 Overview
8.4.2 Inertial Measurement Unit: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Inertial Navigation System
8.5.1 Overview
8.5.2 Inertial Navigation System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Attitude Heading Reference System
8.6.1 Overview
8.6.2 Attitude Heading Reference System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9. APAC Fiber Optic Gyroscope Market Analysis –By Application
9.1 Overview
9.2 APAC Fiber Optic Gyroscope Market, By Application (2019 and 2027)
9.3 Remotely Operated Vehicle Guidance
9.3.1 Overview
9.3.2 Remotely Operated Vehicle Guidance: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Aeronautics and Aviation
9.4.1 Overview
9.4.2 Aeronautics and Aviation: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Robotics
9.5.1 Overview
9.5.2 Robotics: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Industrial
9.6.1 Overview
9.6.2 Industrial: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9.7 Defense and Homeland Security
9.7.1 Overview
9.7.2 Defense and Homeland Security: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
9.8 Tactical Grade Applications
9.8.1 Overview
9.8.2 Tactical Grade Applications: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10. APAC Fiber Optic Gyroscope Market – Country Analysis
10.1 Overview
10.1.1 APAC: Fiber Optic Gyroscope Market, by Key Country
10.1.1.1 Australia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.1.2 Australia: Fiber Optic Gyroscope Market, by Device
10.1.1.1.3 Australia: Fiber Optic Gyroscope Market, by Application
10.1.1.2 China: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.2.2 China: Fiber Optic Gyroscope Market, by Device
10.1.1.2.3 China: Fiber Optic Gyroscope Market, by Application
10.1.1.3 India: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.3.2 India: Fiber Optic Gyroscope Market, by Device
10.1.1.3.3 India: Fiber Optic Gyroscope Market, by Application
10.1.1.4 Japan: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.4.2 Japan: Fiber Optic Gyroscope Market, by Device
10.1.1.4.3 Japan: Fiber Optic Gyroscope Market, by Application
10.1.1.5 South Korea: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.5.2 South Korea: Fiber Optic Gyroscope Market, by Device
10.1.1.5.3 South Korea: Fiber Optic Gyroscope Market, by Application
10.1.1.6 Rest of APAC: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.6.2 Rest of APAC: Fiber Optic Gyroscope Market, by Device
10.1.1.6.3 Rest of APAC: Fiber Optic Gyroscope Market, by Application
11. APAC Fiber Optic Gyroscope Market- COVID-19 Impact Analysis
11.1 APAC
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development
13. Company Profile
13.1 Advanced Navigation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cielo inertial Solutions Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 iXblue
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 EMCORE Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Honeywell International Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 KVH Industries, Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Safran S.A
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. APAC Fiber Optic Gyroscope Market, by Country – Revenue and Forecast to 2027 (USD Million)
Table 3. Australia: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. China: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 7. China: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 8. China: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 9. India: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 11. India: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. Japan: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 13. Japan: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 14. Japan: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 17. South Korea: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of APAC: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of APAC: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 20. Rest of APAC: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 21. Glossary of Term: APAC Fiber Optic Gyroscope Market
LIST OF FIGURES
Figure 1. APAC Fiber Optic Gyroscope Market Segmentation
Figure 2. APAC Fiber Optic Gyroscope Market Segmentation – By Country
Figure 3. APAC Fiber Optic Gyroscope Market Overview
Figure 4. 3-Axis Sensing Axis Segment held the Largest Share
Figure 5. Inertial Navigation System Device Segment held the Largest Share
Figure 6. Defense and Homeland Security Application Segment held the Largest Share of APAC Fiber Optic Gyroscope Market
Figure 7. China to Show Great Traction During Forecast Period
Figure 8. APAC - PEST Analysis
Figure 9. Expert Opinion
Figure 10. APAC Fiber Optic Gyroscope Market Impact Analysis of Drivers and Restraints
Figure 11. APAC Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. APAC Fiber Optic Gyroscope Market Revenue Share, by Sensing Axis (2019 and 2027)
Figure 13. APAC 1-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. APAC 2-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. APAC 3-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. APAC Fiber Optic Gyroscope Market Revenue Share, by Device (2019 and 2027)
Figure 17. APAC Gyrocompass: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. APAC Inertial Measurement Unit: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. APAC Inertial Navigation System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. APAC Attitude Heading Reference System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. APAC Fiber Optic Gyroscope Market Revenue Share, by Application (2019 and 2027)
Figure 22. APAC Remotely Operated Vehicle Guidance: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. APAC Aeronautics and Aviation: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. APAC Robotics: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. APAC Industrial: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. APAC Defense and Homeland Security: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. APAC Tactical Grade Applications: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. APAC: Fiber Optic Gyroscope Market Revenue Share, by Key Country (2019 and 2027)
Figure 29. Australia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. China: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. India: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Japan: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. South Korea: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Rest of APAC: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in APAC Markets
- Advanced Navigation
- Emcore Corporation
- Cielo Inertial Solution Ltd.
- Honeywell International Inc
- ixblue
- KVH Industries, Inc.
- NEDAERO
- Optolink RPC LLC
- Safran Colibrys SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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