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.
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:
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:
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
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
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:
Types
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.
Applications
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:
- Sperry Marine
- Raytheon Anschütz
- B & G
- GEM Elettronica
Highlights of The Gyrocompasses Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Magnetic
- Electronic
- By Application:
- Passenger Ships
- Merchant Vessels
- Offshore Vessels
- Naval Vessels
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- 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
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Raytheon Anschütz
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. B & G
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. GEM Elettronica
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. COMPANY5
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook