Europe Fiber Optic Gyroscope Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Sensing Axis (1-Axis, 2-Axis, and 3-Axis), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System, and Attitude Heading Reference System), and Application (Remotely Operated Vehicle Guidance, Aeronautics and Aviation, Robotics, Industrial, Defense and Homeland Security, and Tactical Grade Applications)
Market Introduction
A fiber optic gyroscope is used for numerous purposes, such as sight stabilization, weapons stabilization, gun stabilization, antenna stabilization, and camera stabilization, among many others, in aircraft, helicopters and remotely operated vehicles. Fiber optic gyroscopes are also used in industrial and robotics applications, including optics or RF antenna stabilization, ground vehicles, robots and training simulator stabilization, in addition to aerospace and defense applications. The rising demand for unmanned vehicles also drives the growth of the market in Europe. Each country in Europe has its regulations on UAVs; however, EASA has proposed a central framework for the whole European region. Most of the commercial UAV market is focused in larger countries such as Germany, France, Italy, Spain, UK, and Switzerland. Although Switzerland is comparatively smaller in terms of geography, the country is home to UAV industry leaders such as Pix4D and senseFly and the Unmanned Traffic Management Association. All of these countries, except UK, have to follow EASA's proposed regulatory framework in the future. Apart from the countries mentioned above, other countries in the European region, Russia, are expected to experience high growth in the military UAV market. This growth is attributed to the country's significant expenditure of military & defense. Also, Increasing requirement of fiber optic gyroscopes among various industrial applications in Europe region is expected to create a significant demand for fiber optic gyroscope in the coming years, which is further anticipated to drive the Europe fiber optic gyroscope market.
Furthermore, COVID-19outbreak has severely affected Europe. Presently, Russia, Spain, France, the UK, Italy, and Germany are some of the worst affected member states in Europe due to COVID-19 outbreak. The region is a major manufacturing and industrial hub for sectors such as automotive, aviation, construction, energy, and power. However, due to COVID outbreak, a large number of businesses in the region are facing financial challenges as they either had to suspend their operations or reduce their activities in a substantial manner, owing to government imposed restrictions and lack of manpower. Hence, due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to see an economic slump in 2020 in various industries including Europe fiber optic gyroscope market and it is most likely to continue in 2021 as well. Various member states in Europe, such as Italy, Spain, France, the UK, and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus. European countries represent a major market for fiber optic gyroscopes and hence, provides growth owing to the presence of a strong civil and military aviation sector, and strict safety regulations in various industries. The lockdown has affected new industrial projects and investments in various European countries, thus impacting the demand for fiber optic gyroscope systems in this region. In addition to this, the disruptions in raw materials and electronic component supply from China and other countries are further anticipated to aggravate the supply problems faced by fiber optic gyroscope manufacturers operating in Europe hence directly affecting the Europe fiber optic gyroscope market.
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Market Overview and Dynamics
The fiber optic gyroscope market in Europe is expected to grow from US$ 255.64 million in 2019 to US$ 356.89 million by 2027; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027. In the Europe fiber optic gyroscope market is expected to be the fast growing region in terms of market growth rate over the forecast period of 2020 to 2027. The growing trend of process automation across industries coupled with rising military expenditure are some of the key factors that are fueling the demand for advanced solutions such as fiber optic gyroscopes in military, commercial, and industrial sectors in the Europe region. Based on these factors. Huge population growth, rising disposable income, rapid urbanization & industrialization, high adoption of advanced technology solutions, favorable government policies to boost industrial growth, growing military & commercial aviation sectors, and high investments in R&D activities are some of the other key factors that are driving the growth of fiber optic gyroscope market in the Europe region. Hence, the growing automation trend and adoption of advanced technology solutions across various end users is anticipated to offer ample growth opportunities to fiber optic gyroscope manufactures operating the Europe region over the forecast period of 2020 to 2027.
Key Market Segments
In terms of sensing axis, the 3-axis segment accounted for the largest share of the Europe fiber optic gyroscope market in 2019. Based on device, inertial navigation system held the largest market share in 2019. In terms of application, the defense and homeland security segment held a larger market share of the Europe fiber optic gyroscope market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the fiber optic gyroscope market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Emcore Corporation; Fizoptika; Honeywell International Inc; ixblue; KVH Industries, Inc.; NEDAERO; Optolink RPC LLC; Safran Colibrys SA.
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Europe Fiber Optic Gyroscope Market Segmentation
Europe Fiber Optic Gyroscope Market - By Sensing Axis
- 1-Axis
- 2-Axis
- 3-Axis
Europe Fiber Optic Gyroscope Market - By Device
- Gyrocompass
- Inertial Measurement Unit
- Inertial Navigation System
- Attitude Heading Reference System
Europe Fiber Optic Gyroscope Market - By Application
- Remotely Operated Vehicle Guidance
- Aeronautics and Aviation
- Robotics
- Industrial
- Defense and Homeland Security
- Tactical Grade Applications
Europe Fiber Optic Gyroscope Market - By Country
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
Europe Fiber Optic Gyroscope Market - Company Profiles
- Emcore Corporation
- Fizoptika
- Honeywell International Inc
- ixblue
- KVH Industries, Inc.
- NEDAERO
- Optolink RPC LLC
- Safran Colibrys SA
1. Introduction
1.1 Scope of The Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Fiber Optic Gyroscope Market – By Sensing Axis
1.3.2 Europe Fiber Optic Gyroscope Market – By Device
1.3.3 Europe Fiber Optic Gyroscope Market – By Application
1.3.4 Europe Fiber Optic Gyroscope Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Fiber Optic Gyroscope Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Fiber Optic Gyroscope –Market Dynamics
5.1 Market Drivers
5.1.1 Europe Witnessing Growth in Aviation Industry Along With Surging Defense Expenditure
5.1.2 Increasing Requirement of Fiber Optic Gyroscopes Among Various Industrial Applications
5.2 Market Restraints
5.2.1 Substitute Solutions Available
5.3 Market Opportunities
5.3.1 Opportunities Rising in Developing Coutries Due to High Demand
5.4 Future Trends
5.4.1 Adoption Among Remotely Operated Vehicles Rising
5.5 Impact Analysis of Drivers and Restraints
6. Fiber Optic Gyroscope Market – Europe Analysis
6.1 Europe Fiber Optic Gyroscope Market Overview
6.2 Europe Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Europe Fiber Optic Gyroscope Market Analysis – By Sensing Axis
7.1 Overview
7.2 Europe 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. Europe Fiber Optic Gyroscope Market Analysis – By Device
8.1 Overview
8.2 Europe 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. Europe Fiber Optic Gyroscope Market Analysis –By Application
9.1 Overview
9.2 Europe 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. Europe Fiber Optic Gyroscope Market – Country Analysis
10.1 Overview
10.1.1 Europe: Fiber Optic Gyroscope Market, by Key Country
10.1.1.1 Germany: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.1.2 Germany: Fiber Optic Gyroscope Market, by Device
10.1.1.1.3 Germany: Fiber Optic Gyroscope Market, by Application
10.1.1.2 France: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.2.2 France: Fiber Optic Gyroscope Market, by Device
10.1.1.2.3 France: Fiber Optic Gyroscope Market, by Application
10.1.1.3 Italy: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.3.2 Italy: Fiber Optic Gyroscope Market, by Device
10.1.1.3.3 Italy: Fiber Optic Gyroscope Market, by Application
10.1.1.4 UK: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.4.2 UK: Fiber Optic Gyroscope Market, by Device
10.1.1.4.3 UK: Fiber Optic Gyroscope Market, by Application
10.1.1.5 Russia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.5.2 Russia: Fiber Optic Gyroscope Market, by Device
10.1.1.5.3 Russia: Fiber Optic Gyroscope Market, by Application
10.1.1.6 Rest of Europe: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Fiber Optic Gyroscope Market, by Sensing Axis
10.1.1.6.2 Rest of Europe: Fiber Optic Gyroscope Market, by Device
10.1.1.6.3 Rest of Europe: Fiber Optic Gyroscope Market, by Application
11. Europe Fiber Optic Gyroscope Market- COVID-19 Impact Analysis
11.1 Europe
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development
13. Company Profile
13.1 iXblue
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 EMCORE Corporation
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 FIZOPTIKA
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 Honeywell International Inc.
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 KVH Industries, 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 NEDAERO
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 Optolink
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
13.8 Safran S.A
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Europe Fiber Optic Gyroscope Market, by Country – Revenue and Forecast to 2027 (USD Million)
Table 3. Germany: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 4. Germany: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 5. Germany: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. France: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 7. France: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 8. France: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 9. Italy: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 10. Italy: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 11. Italy: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. UK: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 13. UK: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 14. UK: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 15. Russia: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 16. Russia: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 17. Russia: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of Europe: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of Europe: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)
Table 20. Rest of Europe: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 21. Glossary of Term: Europe Fiber Optic Gyroscope Market
LIST OF FIGURES
Figure 1. Europe Fiber Optic Gyroscope Market Segmentation
Figure 2. Europe Fiber Optic Gyroscope Market Segmentation – By Country
Figure 3. Europe 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 Europe Fiber Optic Gyroscope Market
Figure 7. Germany to Show Great Traction During Forecast Period
Figure 8. Europe- PEST Analysis
Figure 9. Expert Opinion
Figure 10. Europe Fiber Optic Gyroscope Market Impact Analysis of Drivers and Restraints
Figure 11. Europe Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Fiber Optic Gyroscope Market Revenue Share, by Sensing Axis (2019 and 2027)
Figure 13. Europe 1-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Europe 2-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Europe 3-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Europe Fiber Optic Gyroscope Market Revenue Share, by Device (2019 and 2027)
Figure 17. Europe Gyrocompass: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Europe Inertial Measurement Unit: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Europe Inertial Navigation System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Europe Attitude Heading Reference System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Europe Fiber Optic Gyroscope Market Revenue Share, by Application (2019 and 2027)
Figure 22. Europe Remotely Operated Vehicle Guidance: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Europe Aeronautics and Aviation: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Europe Robotics: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Europe Industrial: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Europe Defense and Homeland Security: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Europe Tactical Grade Applications: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Europe: Fiber Optic Gyroscope Market Revenue Share, by Key Country (2019 and 2027)
Figure 29. Germany: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. France: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Italy: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. UK: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Russia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Rest of Europe: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in Europe Markets
- Emcore Corporation
- Fizoptika
- Honeywell International Inc
- ixblue
- KVH Industries, Inc.
- NEDAERO
- Optolink RPC LLC
- Safran Colibrys SA
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