Correction of gyroscopic measurements for directional drilling

A method of estimating a directional parameter of a downhole component, comprising:

• deploying a rotatable borehole string in a borehole, the borehole string including the downhole component, the downhole component being rotatable with the borehole string, the downhole component including a gyroscope device and a magnetometer device;
• collecting gyroscope measurement data from the gyroscope device and oscillating magnetic field measurement data from the magnetometer device during rotation of the gyroscope device and the magnetometer device with the borehole string;
• and
• estimating, by a processor, the directional parameter of the downhole component, wherein the estimating includes correcting the gyroscope measurement data to remove an oscillating signal component from the gyroscope measurement data using the oscillating magnetic field measurement data, the oscillating signal component from the gyroscope measurement data and the oscillating magnetic field measurement data related to the rotation of the borehole string.