Gyroscope Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

By Type :

The type segment is classified into digital ring laser gyroscope, hemispherical resonator gyroscope, spinning mass mechanical gyroscope, fiber-optic gyroscope (FOGS), micro-electro-mechanical (MEMS) gyroscope, and dynamically tuned gyroscope. In 2022, the Micro-electro-mechanical gyroscopes segment accounted for the highest gyroscope market share in the market owing to the compact form factor, ideal for small electronic devices including smartphones and wearables. Additionally, they are designed to be power-efficient consuming less power as compared to larger counterparts, preserving battery life, and contributing notably in promoting the market proliferation. Moreover, they are popular due to their high stability and vibration-tolerant nature and are employed in a vast range of dynamic applications including railway, aircraft, UAV, and marine and subsea systems. For instance, in March 2023, TDK Corporation launched Tronics GYPRO 4300 a vibration-tolerant and high stability digital MEMS gyroscope. Assessment of market trends suggests that the gyroscope is utilized for precise positioning and navigation in dynamic applications namely land vehicles, aircraft and UAVs, borehole drilling, and railways, thus contributing remarkably to fueling the gyroscope market growth.

Digital ring laser gyroscope is anticipated to witness the fastest CAGR in the upcoming years owing to its high accuracy, stability, and reliability. Their high accuracy is suitable for applications that demand precise measurement of rotation and orientation. In addition, they are less affected by environmental factors including temperature and vibration compared to traditional mechanical counterparts. The gyroscope market analysis concluded that the growing adoption of digital ring laser gyroscopes to provide precise navigation in unmanned aircraft, marine vehicles, spacecraft, and surface vehicles is further contributing to the market proliferation. Assessment of market trends suggests that the aforementioned factors are collectively responsible for bolstering the expansion of the segment during the forecast period.

By Axis :

The axis segment is trifurcated into single, double, and triple. Triple-axis gyroscopes accounted for the largest market share of 45.0% in 2022 and are also predicted to witness the fastest CAGR during the forecast period. The growth is attributed to their ability to measure rotational movement around three different axes namely pitch, roll, and yaw. Additionally, their numerous benefits including improved stability, reduced drift, and the ability to provide an accurate orientation of an object also promote market proliferation. The accuracy offered by the triple axis is essential in tasks including navigation, motion control , and stabilization. Moreover, they consume less power and are suitable for various applications namely platform stabilization, commercial ship navigation, and high-precision agriculture. For instance, InnaLabs launched a 3-axis CVG gyroscope to make accurate measurements of three orthogonal rate rotations namely roll, pitch, and yaw. Additionally, the product is suitable for platform stabilization, commercial ship navigation, and flight control, thus contributing significantly to bolstering the expansion of the market.

By Application :

The application segment is categorized into precision instrumentation, platform stabilization, guidance and control systems, navigation systems, unmanned vehicles and autonomous systems, 3D mapping, marine electronics, robotics, and others. In 2022, the Navigation systems segment accounted for the highest gyroscope market share as gyroscopes are employed in aircraft navigation systems to provide information about the aircraft's pitch, roll, and yaw. Attitude and heading reference systems (AHRS) are them to stabilize and control the aircraft during flight. Additionally, they are also deployed in spacecraft to maintain orientation and stability in space. Gyroscopes help to adjust the spacecraft's attitude and ensure that instruments and antennas are correctly aligned with the targets. Additionally, they are used in combination with accelerometers in INS to track the movement of land and sea vehicles. The systems provide accurate position, velocity, and attitude information, in times of GPS unavailability. Analysis of gyroscope market trends concludes that their increasing adoption in navigation systems is contributing significantly to bolstering the market proliferation.

Robotics is predicted to witness the fastest CAGR as gyroscopes play a crucial role in robotics by providing information about an object's orientation and angular velocity. Additionally, they are utilized in self-balancing robots including Segways to continuously monitor the robot's tilt and adjust the motor speeds to maintain an upright position. Moreover, they are a fundamental component of quadcopters and drones and help to stabilize the aircraft by measuring angular rate and providing real-time feedback to adjust the motors' speed and orientation. The gyroscope market analysis concluded that the expansion of the robotic industry is contributing notably to bolstering the expansion of the market. For instance, in February 2019, Qualcomm Technologies, Inc. launched a new platform for expanding the robotics industry. The platform includes a 6-axis inertial measurement unit (IMU) consisting of a 3-axis gyroscope, hence contributing remarkably to promoting market proliferation.

By End-User :

The end-user segment is divided into automotive, healthcare, aerospace, marine, industrial manufacturing, transportation, consumer electronics, and others. The automotive sector accounted for the largest market share in 2022 as gyroscopes are used as part of the sensors suite in electronic stability control (ESC) systems. The systems monitor a vehicle's yaw rate (rotation around the vertical axis) and lateral acceleration. ESC system applies individual wheel brakes and adjusts engine power to help the driver regain control and prevent accidents. In addition, they are utilized in roll stability control systems to detect and mitigate the risk of rollovers in vehicles with a high center of gravity including SUVs and trucks. They measure the vehicle's roll rate and intervene by applying the brakes to specific wheels to prevent a rollover. Analysis of gyroscope market trends concludes that the aforementioned factors are contributing notably to propelling the gyroscope market growth.

The consumer electronics segment is projected to witness the fastest growth in the market during the forecast period. Gyroscopes are widely used in consumer electronics for detecting and measuring an object's orientation, rotation, and movement, thus improving user experiences. Additionally, they enhance gaming experiences by enabling motion-controlled gameplay, by tilting the device controls in-game actions. Moreover, they are used in smartphones and tablets to detect the device's orientation, allowing the screen to automatically adjust between portrait and landscape modes as the user rotates the device. For instance, in September 2022, Apple launched the iPhone 14 series equipped with a high dynamic range (HDR) gyroscope to enhance the user experience. Examination of market trends concludes that the expanding consumer electronics sector is contributing notably to boosting the proliferation of the market.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest market share of USD 997.69 million in 2022, USD 1,045.62 million in 2023, and is expected to reach USD 1,765.61 million in 2031 in the market. In addition, in the region, the U.S. accounted for the maximum revenue share of 72.35% in the year 2022. The growth is attributed to the advanced manufacturing facilities and infrastructure that support the production of high-quality gyroscopes, allowing for the efficient production and supply of components and systems. In addition, North America has a robust aerospace and defense sector, with major players including Boeing, Lockheed Martin, Northrop Grumman, and Raytheon. Gyroscopes are critical components in aircraft, missiles, drones, and various defense applications, contributing to a substantial demand for gyroscope technology. Furthermore, the increasing investment by the government to promote aerospace manufacturing is also contributing notably in propelling the market proliferation. For instance, in June 2023, the U.S. Department of Commerce invested USD 1 Million to promote aerospace manufacturing in Texas. Consequently, the expanding aerospace sector and the increasing government investments are contributing significantly to driving the growth of the market in North America.

Asia Pacific is predicted to witness the fastest CAGR of 7.0% in the market in the upcoming years. The region is witnessing significant technological advancements, with countries including South Korea and Japan leading in electronics and automotive innovation. The innovation fosters the development and adoption of cutting-edge technologies and products including gyroscopes and oscilloscopes. Additionally, Asia Pacific has a large and technologically advanced consumer electronics market. Gyroscopes are widely used in smartphones, tablets, gaming consoles, and other consumer devices. Consequently, the expansion of the consumer electronics industry is contributing remarkably to boosting the growth of the market during the forecast period.