Gyroscope Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2031)

Based on the 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. Micro-electro-mechanical gyroscopes accounted for the largest market share in 2022 owing to the compact size, ideal for small electronic devices including smartphones and wearables. Additionally, MEMS gyroscopes are designed to be power-efficient consuming less power as compared to larger counterparts, preserving battery life and contributing notably in promoting the market growth. Moreover, MEMS gyroscopes are popular due to their high stability and vibration-tolerant nature ana 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. 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 in fueling the market growth.

Digital ring laser gyroscope is anticipated to witness the fastest CAGR in the upcoming years owing to the high accuracy, stability, and reliability. The high accuracy of digital ring laser gyroscope is suitable for applications that require precise measurement of rotation and orientation. In addition, digital ring laser gyroscopes are less affected by environmental factors including temperature and vibration compared to traditional mechanical gyroscopes. Moreover, 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 growth. Subsequently, the aforementioned factors are collectively responsible in bolstering the growth of the digital ring laser gyroscope segment during the forecast period.

Based on the 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 the ability of triple axis gyroscopes to measure rotational movement around three different axis namely pitch, roll, and yaw. Additionally, the benefits offered by triple axis gyroscopes including improved stability, reduced drift, and the ability to provide an accurate orientation of an object also promote market growth. The accuracy offered by the triple axis is essential in tasks including navigation, motion control, and stabilization. Moreover, three axis gyroscopes 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 in bolstering the growth of the 3-axis gyroscope market.

Based on the 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. Navigation systems accounted for the largest market share in 2022 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) use gyroscopes to stabilize and control the aircraft during flight. Additionally, gyroscopes 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, gyroscopes, in combination with accelerometers, are utilized 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. In conclusion, the increasing adoption of gyroscopes in navigation systems is contributing significantly in bolstering the market growth.

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, gyroscopes 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, gyroscopes 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. Consequently, the expansion of the robotic industry is contributing notably in bolstering the growth of the gyroscope 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 in promoting the market growth.

Based on the End-User :

The end-user segment is divided into automotive, healthcare, aerospace, marine, industrial manufacturing, transportation, consumer electronics, and others. Automotive industry 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, gyroscopes 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. Gyroscopes measure the vehicle's roll rate and intervene by applying the brakes to specific wheels to prevent a rollover. In conclusion, the aforementioned factors are contributing notably in propelling the growth of the gyroscope market.

The consumer electronics segment is projected to witness the fastest growth in the gyroscope 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, gyroscopes enhance gaming experiences by enabling motion-controlled gameplay, by tilting the device controls in-game actions. Moreover, gyroscopes in smartphones and tablets 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. Subsequently, the expanding consumer electronics industry is contributing notably in boosting the growth of the gyroscope market.

Based on the 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 gyroscope 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 gyroscope components and systems. In addition, North America has a robust aerospace and defense industry, 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 growth. 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 industry and the increasing government investments are contributing significantly in driving the growth of the gyroscope market in North America.

Asia Pacific is predicted to witness the fastest CAGR of 7.0% in the gyroscope 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 gyroscope and oscilloscope. 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 consumer electronics industry is contributing remarkably in boosting the growth of the global gyroscope market during the forecast period.