Gyroscope Market

Technological innovations in gyroscopes are driving the market growth

Market CAGR for gyroscopes is driven by the growing technological innovations in gyroscopes. Technological innovations are shaping the gyroscope market. The performance of Inertial navigation systems, attention and heading reference systems, or inertial measurement units for manned and unmanned aircraft, marine, spacecraft, and surface vehicles have influenced technological innovations in gyroscopes. For instance, in May 2022, Magnum Wings LLP, a Hyderabad-based electronic firm, established its first commercially available UAV- MW Viper, in India. The MW Viper's enhanced operating capabilities and mission flexibility make the ground survey, payload delivery, and surveillance missions all easier.

The perpendicular take-off and landing capacity of the MW Viper allows it to hover, take off, and land vertically with a payload varying from 5 to 60 kg.

Additionally, the market is witnessing various developments from national and international players seeking a competitive edge. For instance, in September 2022, South Korea's defense technology development agency developed an atomic spin gyroscope that can be utilized for navigation devices in weapon systems. The Agency for Defense Development (ADD) worked on developing cost-effective gyroscopes that can miniaturize and reduce the power consumption of weapons-grade navigation devices.

The rapidly increasing adoption of drones and unmanned aerial vehicles in the defense and commercial sector has been anticipated to be a major driver in the market. An unmanned Aerial Vehicle is an airborne system, or an aircraft worked remotely by a human worker or autonomously by an onboard computer for warfare and surveillance. Due to the expansion in research and development, the adoption rate of UAVs is rising. For instance, according to National Defense, worldwide research, development, and procurement spending on UAVs is projected to increase from $11.1 billion in 2020 to $14.3 billion by 2029.

Moreover, R&D spending is predicted to extend from $3.2 billion in 2020 to $4 billion in 2029, and procurement assistance is predicted to ramp up from $7.9 billion in 2020 to approximately $10.3 billion by the end of the decade. Such increasing adoption of drones and UAVs is driving the gyroscope market revenue.

Moreover, the rising disposable income, as well as the inclination of customers to use fancy & technologically advanced electronic gadgets, have also raised the production of smartphones, tablets, laptops, etc., subsequently boosting the demand for gyroscopes, as they are used for multiple purposes like for the autorotation of the screen & view on the screen whenever a phone is rotated and several other things.

The Global Gyroscope Market Industry is projected to experience substantial growth in the coming years, with estimates indicating a market value of 2.7 USD Billion in 2024 and a potential increase to 4.39 USD Billion by 2035. This growth trajectory reflects a compound annual growth rate of 4.51% from 2025 to 2035, driven by advancements in technology and increasing applications across various sectors. The market's expansion is indicative of the growing reliance on gyroscopic systems in diverse industries, highlighting their essential role in modern technology.

The Global Gyroscope Market Industry is experiencing rapid technological advancements that enhance the performance and capabilities of gyroscopes. Innovations in micro-electromechanical systems (MEMS) technology have led to the development of smaller, more efficient gyroscopes that are increasingly utilized in consumer electronics, automotive applications, and aerospace. For instance, the integration of gyroscopes in smartphones and drones has become commonplace, driving demand. As the industry evolves, the market is projected to reach 2.7 USD Billion in 2024, with a compound annual growth rate of 4.51% anticipated from 2025 to 2035, indicating a robust growth trajectory fueled by these advancements.

The automotive sector significantly influences the Global Gyroscope Market Industry, as gyroscopes are essential components in advanced driver-assistance systems (ADAS) and vehicle stability control systems. The increasing focus on safety and automation in vehicles has led to a surge in the adoption of gyroscopes for navigation and motion sensing. As manufacturers strive to enhance vehicle performance and safety features, the market is expected to expand. By 2035, the market value is projected to reach 4.39 USD Billion, reflecting the automotive industry's pivotal role in driving gyroscope demand and innovation.

Aerospace applications are a critical driver of the Global Gyroscope Market Industry, as gyroscopes are integral to navigation and control systems in aircraft and spacecraft. The increasing complexity of aerospace systems necessitates precise motion sensing and stabilization, which gyroscopes provide. With the expansion of commercial and military aviation, the demand for advanced gyroscopic systems is expected to rise. This sector's growth contributes to the overall market expansion, as aerospace manufacturers increasingly invest in cutting-edge gyroscope technology to enhance safety and operational efficiency.

The rise of robotics and automation across various industries is propelling the Global Gyroscope Market Industry forward. Gyroscopes play a vital role in providing stability and orientation for robotic systems, enabling precise movements and operations. As industries such as manufacturing, healthcare, and logistics increasingly adopt robotic solutions, the demand for gyroscopic technology is likely to grow. This trend may lead to a more significant market presence, as companies seek to enhance the capabilities of their robotic systems through advanced gyroscope integration.

The Global Gyroscope Market Industry is witnessing a surge in demand due to emerging applications in consumer electronics. Gyroscopes are now integral to various devices, including smartphones, gaming consoles, and virtual reality headsets, enhancing user experience through motion tracking and orientation sensing. As consumer preferences shift towards more interactive and immersive technologies, the need for sophisticated gyroscopic systems is expected to increase. This trend suggests a promising future for the market, as manufacturers continue to innovate and integrate gyroscopes into their products.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific gyroscope market will dominate, owing to the expansion & development of aircraft & automobile manufacturing units in the nations, mainly India, Japan, China, etc. The growing investments by the companies aligned with the government efforts & support to leverage the economy by producing aircraft, vehicles, etc., locally are promulgating the demand for gyroscopes in the region. Moreover, China’s gyroscope market held the largest market share, and the Indian gyroscope market was the fastest-growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Gyroscope Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's gyroscope market accounts for the second-largest market share due to the highly developed technological advancement in the region. Further, the German gyroscope market held the largest market share, and the UK gyroscope market was the fastest-growing market in the European region.

The North American gyroscope Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increasing production and sales of consumer electronics and the strong presence of leading accelerometers and gyroscope manufacturers constantly striving to introduce new products in this region. Moreover, the US gyroscope market held the largest market share, and the Canadian gyroscope market was the fastest-growing market in the North American region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the gyroscope market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the gyroscope industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global gyroscope industry to benefit clients and increase the market sector. Major players in the Gyroscope market, including Honeywell International Inc, Bosch Sensortec GmbH, Analog Devices, Inc., Trimble Inc., Murata Manufacturing Co., Ltd, Silicon Sensing Systems Limited, Parker Hannifin Corp, and others, are attempting to increase market demand by investing in research and development operations.

STMicroelectronics NV is a manufacturer and provider of semiconductors. The company develops and markets a huge range of products, such as custom devices and semi-custom devices and application-specific standard and integrated circuits. It also produces and sells power modules, switches, clocks, data converters, automotive ADAS devices, imaging and photonics solutions, silicon chips and smartcards. STM uses various chip fabrication technologies, including advanced FD-SOI, CMOS, embedded non-volatile memories, RF-SOI, optical sensing, analog and MEMS, mixed signal, and smart power processes. It serves consumers in several markets, including industrial, automotive, personal electronics, computers, communications equipment, and peripherals.

With its machine-learning (ML) core, STMicroelectronics created the ASM330LHHX inertial measurement unit (IMU) in May 2022 to help the automotive industry's pursuit for increased levels of automation and to allow smart driving. The 2.5mm x 3mm x 0.83mm ASM330LHHX, which is automotive-qualified, features a 3-axis accelerometer and 3-axis gyroscope. The 6-axis module provides attitude and movement detection for digital stabilisation and vehicle placement.

Engineering and technology are the two main industries of Honeywell International Inc. The company develops and produces technology to address issues with energy, security, safety, productivity, and global urbanisation, among other issues. Specialty chemicals, process technologies, electrical and sophisticated materials, productivity, sensing, safety and security technology, and replacement parts are just a few of the things Honeywell offers. Additionally, it offers managerial, technical, repair, and maintenance services. In July 2022, Honeywell International Inc. collaborated with Civitanavi Systems to develop inertial measurement units, attitude heading reference systems, and inertial navigation systems for commercial & defense customers.

The system would include fiber-optic gyroscopes (FOG) & micro-electromechanical system (MEMS) accelerometers designed for improved pointing, stabilization, and short-duration navigation at low power & low noise.