There is definitely a practical application where a gyroscope is concerned. It is helpful to many when looking for directions. It is a fascinating device that is very simple yet offers a world of navigational use. Air professionals like pilots and even auto pilot mechanisms are helped by the gyroscope.
The spinning wheel can even guide in space because of the gravity force it eximplifies which gives directions. Therefore it is applicable for satellite and space vehicle orientation. The practical applications of such a simple things as a gyroscope is nothing short of amazing.