Middle East & Africa 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)

TIPRE00016257 | Pages: 104 | Electronics and Semiconductor | Nov 2020 | Type: Regional | Status: Published

Market Introduction

The MEA fiber optic gyroscopes market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The region is expected to witness a rapid rise in marketing and industrialization activities, further boosting various industries' growth. The Gulf countries are economically developed, whereas African countries are yet to match these countries' economic conditions. Despite the obstacles, such as rising unemployment rates and uncertain oil prices, countries such as the UAE, Saudi Arabia, and South Africa are at the forefront of adopting advanced transformative technologies, such as artificial intelligence, IoT, and cellular technologies. Moreover, the Middle East and African countries are extensively spending on their military. Thus, UAVs' procurement for the military is anticipated to notice a high demand in this region. Adoption of fiber optic gyroscope in remotely operated vehicle is expected to create a significant demand for fiber optic gyroscope in the coming years, which is further anticipated to drive the MEA fiber optic gyroscope market. Furthermore, ongoing COVID-19 outbreak is causing drastic impact across the MEA region. Among the MEA countries, Iran has the highest number of COVID-19 confirmed cases and deaths, followed by countries such as Saudi Arabia, Iraq, Israel, Qatar, Egypt, and Kuwait. The outbreak is impacting the economic and industrial growth of the region in a substantial manner. The region comprises many growing economies which are prospective markets for fiber optic gyroscope providers, owing to the huge investments in infrastructure development, military expenditure, and growing manufacturing & construction industries. Due to these factors, the demand for fiber optic gyroscope solutions in anticipated to be high in the region. However, the ongoing COVID-19 outbreak may hinder this demand in coming quarters due to decline in industrial activities and investments. Also, there is already a pressure on oil-based economies in this region due to falling and uncertain oil prices. In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries present in the MEA region. Hence, the estimated decline in MEA’s economic growth and impact of COVID-19 on growth of various industries in the region is expected to negatively impact the demand for fiber optic gyroscope systems in 2020 and 2021. 


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Market Overview and Dynamics

The fiber optic gyroscope market in MEA is expected to grow from US$ 61.30 million in 2019 to US$ 82.52 million by 2027; it is estimated to grow at a CAGR of 3.9% from 2020 to 2027. Fiber Optic Gyroscopes were initially developed for use in military and defense applications, however due to potential benefits offered by these gyroscopes over their mechanical counterparts, they are being widely adopted in commercial and industrial sectors. Automotive, medical, and robotics among others are some of the key sectors where the demand for fiber optic gyroscopes has been increasing at an impressive pace. The rising demand for technologically advanced solutions to increase operational efficiency in various industries and increasing trend of industry automation is further driving the demand for fiber optic gyroscopes across industries. In majority of industrial applications such as factory transport systems, handling robots, and surveying equipment, gyroscopes are being used for real time stabilization and navigation purposes. The continuous advancements in gyroscope technologies and performance enhancements in parameters such as angle random walk, bias offset error, bias instability, temperature sensitivity, and shock & vibration sensitivity are some of the factors that are anticipated to drive the adoption of fiber optic gyroscopes in diverse industrial and commercial applications 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 MEA 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 MEA 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 MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cielo inertial Solutions Ltd; Honeywell International Inc; KVH Industries, Inc.; NEDAERO; Safran Colibrys SA.

Reasons to buy report

  • To understand the MEA fiber optic gyroscope market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA fiber optic gyroscope market
  • Efficiently plan M&A and partnership deals in MEA fiber optic gyroscope market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA fiber optic gyroscope market
  • Obtain market revenue forecast for fiber optic gyroscope market by various segments from 2020-2027 in MEA region.

 

MEA Fiber Optic Gyroscope Market Segmentation

MEA Fiber Optic Gyroscope Market - By Sensing Axis

  • 1-Axis
  • 2-Axis
  • 3-Axis

MEA Fiber Optic Gyroscope Market - By Device

  • Gyrocompass
  • Inertial Measurement Unit
  • Inertial Navigation System
  • Attitude Heading Reference System  

MEA Fiber Optic Gyroscope Market - By Application

  • Remotely Operated Vehicle Guidance
  • Aeronautics and Aviation
  • Robotics
  • Industrial
  • Defense and Homeland Security
  • Tactical Grade Applications

MEA Fiber Optic Gyroscope Market - By Country

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA

MEA Fiber Optic Gyroscope Market - Company Profiles

  • Cielo inertial Solutions Ltd
  • Honeywell International Inc
  • KVH Industries, Inc.
  • NEDAERO
  • 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        MEA Fiber Optic Gyroscope Market – By Sensing Axis

1.3.2        MEA Fiber Optic Gyroscope Market – By Device

1.3.3        MEA Fiber Optic Gyroscope Market – By Application

1.3.4        MEA Fiber Optic Gyroscope Market – By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           MEA Fiber Optic Gyroscope Market Landscape

4.1         Market Overview

4.2         MEA PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           MEA Fiber Optic Gyroscope –Market Dynamics

5.1         Market Drivers

5.1.1        Escalating Defense Spending and Progressing Aviation Industry in MEA

5.1.2        Several Industrial Applications Demanding Fiber Optic Gyroscopes

5.2         Market Restraints

5.2.1        Existence of Multiple Substitute Solutions

5.3         Market Opportunities

5.3.1        Developing Countries to Raise New Opportunities

5.4         Future Trends

5.4.1        Adoption among Remotely Operated Vehicles Coming in Trend

5.5         Impact Analysis of Drivers and Restraints

6.           Fiber Optic Gyroscope Market – MEA Analysis

6.1         MEA Fiber Optic Gyroscope Market Overview

6.2         MEA Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

6.3         Market Positioning – Five Key Players

7.           MEA Fiber Optic Gyroscope Market Analysis – By Sensing Axis

7.1         Overview

7.2         MEA 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.           MEA Fiber Optic Gyroscope Market Analysis – By Device

8.1         Overview

8.2         MEA 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.           MEA Fiber Optic Gyroscope Market Analysis –By Application

9.1         Overview

9.2         MEA 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.        MEA Fiber Optic Gyroscope Market – Country Analysis

10.1      Overview

10.1.1     MEA: Fiber Optic Gyroscope Market, by Key Country

10.1.1.1       South Africa: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

10.1.1.1.1       South Africa: Fiber Optic Gyroscope Market, by Sensing Axis

10.1.1.1.2       South Africa: Fiber Optic Gyroscope Market, by Device

10.1.1.1.3       South Africa: Fiber Optic Gyroscope Market, by Application

10.1.1.2       Saudi Arabia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

10.1.1.2.1       Saudi Arabia: Fiber Optic Gyroscope Market, by Sensing Axis

10.1.1.2.2       Saudi Arabia: Fiber Optic Gyroscope Market, by Device

10.1.1.2.3       Saudi Arabia: Fiber Optic Gyroscope Market, by Application

10.1.1.3       UAE: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

10.1.1.3.1       UAE: Fiber Optic Gyroscope Market, by Sensing Axis

10.1.1.3.2       UAE: Fiber Optic Gyroscope Market, by Device

10.1.1.3.3       UAE: Fiber Optic Gyroscope Market, by Application

10.1.1.4       Rest of MEA: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

10.1.1.4.1       Rest of MEA: Fiber Optic Gyroscope Market, by Sensing Axis

10.1.1.4.2       Rest of MEA: Fiber Optic Gyroscope Market, by Device

10.1.1.4.3       Rest of MEA: Fiber Optic Gyroscope Market, by Application

11.        MEA Fiber Optic Gyroscope Market- COVID-19 Impact Analysis

11.1      MEA

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

13.        Company Profile

13.1      Cielo inertial Solutions Ltd

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      Honeywell International Inc.

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      KVH Industries, Inc

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      NEDAERO

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      Safran S.A

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

14.        Appendix

14.1      About The Insight Partners

             14.2      Glossary of Terms

LIST OF TABLES

Table 1.             MEA Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Table 2.             MEA Fiber Optic Gyroscope Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 3.             South Africa: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)

Table 4.             South Africa: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)

Table 5.             South Africa: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 6.             Saudi Arabia: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)

Table 7.             Saudi Arabia: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)

Table 8.             Saudi Arabia: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 9.             UAE: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)

Table 10.          UAE: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)

Table 11.          UAE: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 12.          Rest of MEA: Fiber Optic Gyroscope Market, by Sensing Axis – Revenue and Forecast to 2027 (US$ Million)

Table 13.          Rest of MEA: Fiber Optic Gyroscope Market, by Device – Revenue and Forecast to 2027 (US$ Million)

Table 14.          Rest of MEA: Fiber Optic Gyroscope Market, by Application – Revenue and Forecast to 2027 (US$ Million)

Table 15.            Glossary of Term: MEA Fiber Optic Gyroscope Market

LIST OF FIGURES

Figure 1.           MEA Fiber Optic Gyroscope Market Segmentation

Figure 2.           MEA Fiber Optic Gyroscope Market Segmentation – By Country

Figure 3.           MEA 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 Fiber Optic Gyroscope Market

Figure 7.           Rest of MEA to Show Great Traction During Forecast Period

Figure 8.           MEA PEST Analysis

Figure 9.           Expert Opinion

Figure 10.        MEA Fiber Optic Gyroscope Market Impact Analysis of Drivers and Restraints

Figure 11.        MEA Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12.        MEA Fiber Optic Gyroscope Market Revenue Share, by Sensing Axis (2019 and 2027)

Figure 13.        MEA 1-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14.        MEA 2-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15.        MEA 3-Axis: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16.        MEA Fiber Optic Gyroscope Market Revenue Share, by Device (2019 and 2027)

Figure 17.        MEA Gyrocompass: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18.        MEA Inertial Measurement Unit: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19.        MEA Inertial Navigation System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 20.        MEA Attitude Heading Reference System: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21.        MEA Fiber Optic Gyroscope Market Revenue Share, by Application (2019 and 2027)

Figure 22.        MEA Remotely Operated Vehicle Guidance: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23.        MEA Aeronautics and Aviation: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24.        MEA Robotics: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25.        MEA Industrial: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 26.        MEA Defense and Homeland Security: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 27.        MEA Tactical Grade Applications: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 28.        MEA: Fiber Optic Gyroscope Market Revenue Share, by Key Country (2019 and 2027)

Figure 29.        South Africa: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 30.        Saudi Arabia: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 31.        UAE: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 32.        Rest of MEA: Fiber Optic Gyroscope Market – Revenue and Forecast to 2027 (US$ Million)

Figure 33.          Impact of COVID-19 Pandemic in MEA Markets

  1. Cielo inertial Solutions Ltd
  2. Honeywell International Inc
  3. KVH Industries, Inc.
  4. NEDAERO
  5. Safran Colibrys SA

 

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA fiber optic gyroscope market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the MEA fiber optic gyroscope market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the fiber optic gyroscope market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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