Yole Developpement recently released a report stating that the global market value of high-end inertial sensor systems in 2019 is 3.24 billion U.S. dollars, and the annual growth rate is expected to be 2.7% in the future and reach a market size of 3.8 billion U.S. dollars in 2025.
The Covid-19 pandemic has had a huge impact on the application market. "Air travel has paralyzed due to the pandemic and future plane orders have been revised downwards." said Guillaume Girardin, head of Yole's sensing department。
It may take several years for commercial aerospace to return to pre-epidemic levels. From 2019 to 2025, the compound annual growth rate of high-end inertial systems related to aerospace is expected to be -0.4%. On the other hand, areas such as drones and reusable rockets are expected to grow faster.
In the industrial market, Yole analysts predict that the demand for inertial sensor systems in the industrial market will shrink in 2020 under the influence of factors such as supply chain, oil and gas projects being postponed or cancelled. However, growth is expected to resume in 2021 and is expected to double within 5 years due to the explosion of new application markets such as industrial robots, IioT, and nanosatellites.