Global Gyroscope Market Insights Forecasts to 2033

• The Global Gyroscope Market Size was Valued at USD 2.24 Billion in 2023
• The Market Size is Growing at a CAGR of 5.92% from 2023 to 2033
• The Worldwide Gyroscope Market Size is Expected to Reach USD 3.98 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Gyroscope Market Size is Anticipated to Exceed USD 3.98 Billion by 2033, Growing at a CAGR of 5.92% from 2023 to 2033.

Market Overview

A gyroscope is a device used to quantify or preserve orientation and angular velocity. A gyroscope typically involves a revolving wheel or floppy mounted on a frame, letting it resist orientation variations and maintain stability. Gyroscopes are used in compasses, automatic pilots on ships, aircraft, and ballistic missiles, the navigation mechanisms of torpedoes, the inertial direction systems installed in space launch vehicles, orbiting satellites, and virtual reality experiences. Furthermore, gyroscopes are devices used to track the twists, turns, and rolls of an item in motion. Some key forms of gyroscopes are Micro-Electro-Mechanical System (MEMS) gyroscopes, fiber optic gyroscopes, ring laser gyroscopes, hemispherical resonating gyroscopes, and dynamically tuned gyroscopes. They are motion sensors that sense and measure the angular motion of an item using a micro-electro-mechanical system (MEMS). Moreover, the global gyroscope market is expected to grow during the forecast period, owing to its constant installations in numerous end-user industries such as aerospace, defense, marine, consumer electronics, and automotive. In addition, the large-scale investments in the aerospace & defense industry, such as the manufacturing & development of military & commercial aircraft in North America, Europe, Asia-Pacific, and others, have been requiring the demand for numerous types of gyroscopes. Additionally, the growing demand for effective and highly progressive inertial steering systems in all kinds of aircraft has been enabling the execution of these devices as they progress the performance & accuracy of onboard steering systems.

Report Coverage

This research report categorizes the market for the global gyroscope market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global gyroscope market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global gyroscope market.

Driving Factors

Gyroscopes are used in smartphones, tablets, wearables, gaming consoles, and virtual reality gadgets for motion tracking and steadiness. Moreover, gyroscopes are used in cars for electronic stability control (ESC), airbags, and steering systems. Gyroscopes are vital for steering, direction, and stabilization in airplanes, drones, and missiles. Gyroscopes are used in robots, industrial mechanization systems, and medical gadgets for precise positioning and control. Furthermore, the combination of gyroscopes in aerospace and defense applications aids as a main driving factor for the gyroscope market. Gyroscopes create crucial components inside aerospace and defense systems, enabling perilous functions such as steering, guidance, and stabilization. The constant improvements in gyroscopic technology further drive market growth inside the aerospace and defense sectors. Inventions in gyroscopic sensors lead to improved accuracy, reliability, and performance of steering and guidance systems, meeting the developing demands of modern warfare scenarios.

Restraining Factors

Competition from other sensor technologies hampers the development of the gyroscopes market. Accelerometers and magnetometers, among others, develop as formidable competitors delivering analogous performance in precise applications at a lower cost. However, high initial costs and operational anxieties are the main factors estimated to restrain the growth of the studied market. Furthermore, as a crucial part of creating superior sensors, high-quality raw materials are vigorous for manufacturers. Vacillations in prices and supply of raw materials might also cause hindrances in the growth of the studied market.

Market Segmentation

The global gyroscope market share is classified into type and application.

• The MEMS gyroscope segment is expected to hold the largest share of the global gyroscope market during the forecast period.   

Based on the type, the global gyroscope market is divided into MEMS gyroscopes, fiber optic gyroscopes, ring laser gyroscopes, dynamically tuned gyroscopes, hemispherical resonating gyroscopes, and others. Among these, the MEMS gyroscope segment is expected to hold the largest share of the global gyroscope market during the forecast period. This is attributed to in emerging economies, category development is obsessed owing to the augmented proliferation of mobile devices. MEMS gyroscopes aid address the high motion sensing accuracy mandatory in smartphones.

• The aerospace and defense segment is expected to hold the largest share of the global gyroscope market during the forecast period.   

Based on the application, the global gyroscope market is divided into consumer electronics, aerospace and defense, industrial manufacturing, mining, marine, automotive, and others. Among these, the aerospace and defense segment is expected to hold the largest share of the global gyroscope market during the forecast period. This is attributed to gyroscopes being widely used in commercial airplanes, defense acts, and other areas. These gadgets are remotely straddling commercial aircraft, permitting the void path to replace around one of the flight's axes. Productivity can be utilized in equivalent instrumentation as well as automatic pilot systems.

Regional Segment Analysis of the Global Gyroscope Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global gyroscope market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global gyroscope market over the predicted timeframe. The Asia-Pacific gyroscope market will dominate, owing to the expansion & development of aircraft & automobile manufacturing units in the nations, mainly India, Japan, and China. The increasing investments by the businesses associated with the government efforts & support to influence the economy by creating aircraft, vehicles, etc., locally are circulating the demand for gyroscopes in the region. Moreover, China’s gyroscope market detained the largest market share, and the Indian gyroscope market was the fastest-growing market in the Asia-Pacific region. Furthermore, the automotive, semiconductor, and customer electronics businesses in Japan are some of the greatest protuberant and largest businesses in the world. The country is home to numerous leading automakers such as Toyota, Nissan, Honda, Suzuki, Mitsubishi, Daihatsu, Mazda, Subaru, Hino, Isuzu, Kawasaki, and Yamaha. The rising technological advancement in the automotive industry, the increase in sales of electric vehicles, and the incorporation of smart control systems in autonomous and connected vehicles make demand for gyroscopes for correct positioning and steering.

North America is expected to grow at the fastest pace in the global gyroscope market during the forecast period. This is due to the growing production and sales of customer electronics and the strong existence of leading accelerometers and gyroscope manufacturers continuously striving to introduce new products in this region. Moreover, the US gyroscope market seized the largest market share, and the Canadian gyroscope market was the fastest-growing market in the North American region. The market is obsessed with vigorous demand from the aerospace and defense sectors, wherever gyroscopes are widely used in steering systems for aircraft, missiles, and unmanned aerial vehicles (UAVs).

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global gyroscope market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Honeywell International Inc.
• Northrop Grumman Corporation
• Thales Group
• Safran Electronics & Defense
• Murata Manufacturing Co. Ltd.
• STMicroelectronics N.V.
• Analog Devices Inc.
• Bosch Sensortec GmbH
• InvenSense Inc.
• KVH Industries Inc.
• Colibrys
• Kionix Inc.
• Trimble Navigation Ltd.
• Moog Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, Murata Manufacturing announced the SCH16T-K01 sensor incorporating gyroscope and accelerometer capabilities for specific sensing in various applications, including machine control.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gyroscope market based on the below-mentioned segments: 

Global Gyroscope Market, By Type

• MEMS Gyroscope
• Fiber Optic Gyroscope
• Ring Laser Gyroscope
• Dynamically Tuned Gyroscope
• Hemispherical Resonating Gyroscope
• Others

Global Gyroscope Market, By Application

• Consumer Electronics,
• Aerospace and Defense,
• Industrial Manufacturing,
• Mining
• Marine
• Automotive
• Others

Global Gyroscope Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa