Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Gyrocompasses Market by Type (Magnetic, Electronic), By Application (Passenger Ships, Merchant Vessels, Offshore Vessels, Naval Vessels) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Gyrocompasses Market by Type (Magnetic, Electronic), By Application (Passenger Ships, Merchant Vessels, Offshore Vessels, Naval Vessels) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 155812 3300 Machinery & Equipment 377 243 Pages 4.9 (46)

Market Overview:

The global gyrocompasses market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for gyrocompasses in passenger ships, merchant vessels, offshore vessels, and naval vessels. Additionally, the growing demand for electronic gyrocompasses is also contributing to the growth of this market. North America dominates the global gyrocompasses market and is expected to continue its dominance during the forecast period.

Global Gyrocompasses Industry Outlook

Product Definition:

A gyrocompass is a type of compass that uses a spinning rotor to maintain its orientation relative to the Earth's magnetic field. This permits the instrument to remain stable and pointing in the same direction, even if the ship or aircraft pitches and rolls.


Magnetic is a natural phenomenon which occurs in the earth's crustal plates. The magnetic field varies with time and location. There are three types of magnets: permanent, electromagnets, and electric dipoles (eddy currents). Magnetic dipoles can be generated by electricity or by moving charges; they produce a magnetic field when placed in proximity to an electrical current or through the interaction of charged particles (ions) with liquid crystals.


Electronic is a combination of semiconductor devices and electronic circuits which are used to measure angles. Gyrocompasses use electronic components such as sensors, transducers, amplifiers and digital signal processing units to determine the direction in which the ship or aircraft is pointing. Electronic compasses are more accurate than magnetic compasses but they take longer time for bearing measurement because of their slow speed compared to magnetic type.

Application Insights:

The global gyrocompasses market is segmented by application into passenger ships, merchant vessels, offshore vessels and naval vessels. The merchant vessel segment held the largest share of over 50% in 2017. This is attributed to the growing demand for cruise liners that offer luxury services to their passengers across various destinations. As a result, there has been an increase in investments from liner operators for purchasing state-of-the-art technology and equipment for enhancing passenger experience on board their ships.

Gyrocompass systems are installed on large seagoing vessels such as oil platforms, bulk carriers and container ships as they enable precise navigation even in high seas with rolling waves caused by wind or current influence. These systems provide accurate heading information during critical operations such as entering a harbor when pilotage is required or when sailing close alongshore currents or against the wind direction which requires constant monitoring of course corrections while maneuvering through narrow channels at anchorages where precise positioning is required for mooring etc.

Regional Analysis:

North America accounted for the largest share of over 40% in 2017. The region is expected to witness a CAGR of XX% from 2018 to 2030 owing to increasing offshore and marine activities in the U.S., Canada, and Mexico. Moreover, rising demand for cruise tourism is also anticipated to drive regional growth over the forecast period.

Asia Pacific gyrocompass market was valued at USD X million in 2017.

Growth Factors:

  • Increasing demand for accurate navigation in maritime and aviation industries
  • Growing popularity of unmanned aerial vehicles (UAVs) and autonomous ships
  • Proliferation of digital technologies in marine and aerospace applications
  • Development of advanced gyrocompass systems with enhanced features
  • Expansion of global trade and rise in shipping activities

Scope Of The Report

Report Attributes

Report Details

Report Title

Gyrocompasses Market Research Report

By Type

Magnetic, Electronic

By Application

Passenger Ships, Merchant Vessels, Offshore Vessels, Naval Vessels

By Companies

Sperry Marine, Raytheon Anschütz, B & G, GEM Elettronica

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Gyrocompasses Market Report Segments:

The global Gyrocompasses market is segmented on the basis of:


Magnetic, Electronic

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Passenger Ships, Merchant Vessels, Offshore Vessels, Naval Vessels

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Sperry Marine
  2. Raytheon Anschütz
  3. B & G
  4. GEM Elettronica

Global Gyrocompasses Market Overview

Highlights of The Gyrocompasses Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Magnetic
    2. Electronic
  1. By Application:

    1. Passenger Ships
    2. Merchant Vessels
    3. Offshore Vessels
    4. Naval Vessels
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Gyrocompasses Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Gyrocompasses Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

A gyrocompass is a navigational instrument that uses the Earth's rotation to maintain its orientation.

Some of the major companies in the gyrocompasses market are Sperry Marine, Raytheon AnschƒÂ¼tz, B & G, GEM Elettronica.

The gyrocompasses market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Gyrocompasses Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Gyrocompasses Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Gyrocompasses Market - Supply Chain
   4.5. Global Gyrocompasses Market Forecast
      4.5.1. Gyrocompasses Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Gyrocompasses Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Gyrocompasses Market Absolute $ Opportunity

5. Global Gyrocompasses Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Gyrocompasses Market Size and Volume Forecast by Type
      5.3.1. Magnetic
      5.3.2. Electronic
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Gyrocompasses Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Gyrocompasses Market Size and Volume Forecast by Application
      6.3.1. Passenger Ships
      6.3.2. Merchant Vessels
      6.3.3. Offshore Vessels
      6.3.4. Naval Vessels
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Gyrocompasses Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Gyrocompasses Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Gyrocompasses Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Gyrocompasses Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Gyrocompasses Demand Share Forecast, 2019-2026

9. North America Gyrocompasses Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Gyrocompasses Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Gyrocompasses Market Size and Volume Forecast by Application
      9.4.1. Passenger Ships
      9.4.2. Merchant Vessels
      9.4.3. Offshore Vessels
      9.4.4. Naval Vessels
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Gyrocompasses Market Size and Volume Forecast by Type
      9.7.1. Magnetic
      9.7.2. Electronic
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Gyrocompasses Demand Share Forecast, 2019-2026

10. Latin America Gyrocompasses Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Gyrocompasses Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Gyrocompasses Market Size and Volume Forecast by Application
      10.4.1. Passenger Ships
      10.4.2. Merchant Vessels
      10.4.3. Offshore Vessels
      10.4.4. Naval Vessels
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Gyrocompasses Market Size and Volume Forecast by Type
      10.7.1. Magnetic
      10.7.2. Electronic
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Gyrocompasses Demand Share Forecast, 2019-2026

11. Europe Gyrocompasses Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Gyrocompasses Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Gyrocompasses Market Size and Volume Forecast by Application
      11.4.1. Passenger Ships
      11.4.2. Merchant Vessels
      11.4.3. Offshore Vessels
      11.4.4. Naval Vessels
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Gyrocompasses Market Size and Volume Forecast by Type
      11.7.1. Magnetic
      11.7.2. Electronic
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Gyrocompasses Demand Share, 2019-2026

12. Asia Pacific Gyrocompasses Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Gyrocompasses Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Gyrocompasses Market Size and Volume Forecast by Application
      12.4.1. Passenger Ships
      12.4.2. Merchant Vessels
      12.4.3. Offshore Vessels
      12.4.4. Naval Vessels
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Gyrocompasses Market Size and Volume Forecast by Type
      12.7.1. Magnetic
      12.7.2. Electronic
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Gyrocompasses Demand Share, 2019-2026

13. Middle East & Africa Gyrocompasses Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Gyrocompasses Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Gyrocompasses Market Size and Volume Forecast by Application
      13.4.1. Passenger Ships
      13.4.2. Merchant Vessels
      13.4.3. Offshore Vessels
      13.4.4. Naval Vessels
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Gyrocompasses Market Size and Volume Forecast by Type
      13.7.1. Magnetic
      13.7.2. Electronic
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Gyrocompasses Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Gyrocompasses Market: Market Share Analysis
   14.2. Gyrocompasses Distributors and Customers
   14.3. Gyrocompasses Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Sperry Marine Overview Financials Developments Strategic Outlook
      14.4.2. Raytheon Anschütz Overview Financials Developments Strategic Outlook
      14.4.3. B & G Overview Financials Developments Strategic Outlook
      14.4.4. GEM Elettronica Overview Financials Developments Strategic Outlook
      14.4.5. COMPANY5 Overview Financials Developments Strategic Outlook
      14.4.6. COMPANY6 Overview Financials Developments Strategic Outlook
      14.4.7. COMPANY7 Overview Financials Developments Strategic Outlook
      14.4.8. COMPANY8 Overview Financials Developments Strategic Outlook
      14.4.9. COMPANY9 Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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