Line-of-sight rate is the key parameter that enables inertial stabilized platforms to implement guidance laws successfully for target tracking or attacking. It is always obtained by experiments. In this article, a theoretical model of the line-of-sight rate is established for the first time, starting with the gimbal motion. The strategy to acquire line-of-sight rate is based on the servo control circuit. The measurement equations for line-of-sight rate are derived using a coordinate transformation. An error model is then obtained with the help of differentiation. The error of an inertial stabilized platform prototype is measured, showing that the line-of-sight rate error can be predicted accurately. Finally, a high-precision inertial stabilized platform is successfully designed and analyzed, with the accuracy of 0.06°/s and 0.37°/s when line-of-sight rates are set to 1.5°/s and 9°/s, respectively.