A gyrocompass is a type of non-magnetic compass which is based on a fast-spinning disc and the rotation of the Earth (or another planetary body if used elsewhere in the universe) to find geographical direction automatically. Although one important component of a gyrocompass is a gyroscope, these are not the same devices; a gyrocompass is built to use the effect of gyroscopic precession, which is a distinctive aspect of the general gyroscopic effect. Gyrocompasses are widely used for navigation on ships, because they have two significant advantages over magnetic compasses:
Aircraft commonly use gyroscopic instruments (but not a gyrocompass) for navigation and attitude monitoring; for details, see Flight instruments and Gyroscopic autopilot.
A gyroscope, not to be confused with gyrocompass, is a spinning wheel mounted on a set of gimbals so that its axis is free to orient itself in any way. When it is spun up to speed with its axis pointing in some direction, due to the law of conservation of angular momentum, such a wheel will normally maintain its original orientation to a fixed point in outer space (not to a fixed point on Earth). Since our planet rotates, it appears to a stationary observer on Earth that a gyroscope's axis is completing a full rotation once every 24 hours. Such a rotating gyroscope is used for navigation in some cases, for example on aircraft, where it is known as heading indicator or directional gyro, but cannot ordinarily be used for long-term marine navigation. The crucial additional ingredient needed to turn a gyroscope into a gyrocompass, so it would automatically position to true north, is some mechanism that results in an application of torque whenever the compass's axis is not pointing north.