Gyrocompass

A gyrocompass or Gyrocompassing is a type of non-magnetic compass which is based on a fast-spinning disc and the rotation of the Earth to find geographical direction automatically. A gyrocompass makes use of one of the seven fundamental ways to determine the heading of a vehicle. A gyroscope is an essential component of a gyrocompass, but they are different devices; a gyrocompass is built to use the effect of gyroscopic precession, which is a distinctive aspect of the general gyroscopic effect.

Gyrocompasses, such as the fibre optic gyrocompass are widely used to provide a heading for navigation on ships.
This is because they have two significant advantages over magnetic compasses:they find true north as determined by the axis of the Earth's rotation, which is different from, and navigationally more useful than, magnetic north, and they have a greater degree of accuracy because they are unaffected by ferromagnetic materials, such as in a ship's steel hull, which distort the magnetic field.

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Source: Wikipedia · Image: Wikimedia Commons · CC BY-SA 3.0