Rising concerns for reduction in travel time, is demanding for air travel, which is increasing the number of aircrafts across the global airspace. Owing to this fact, the market for aerospace data recorders is projected to surge at a CAGR of 5.8%.
Published Date : 31/10/2017
According to a new market research study titled 'Aerospace Data Recorders Market to 2025 - Global Analysis and Forecasts by Types and Application, the global aerospace data recorders market was valued at US$ 1460.9 Mn in 2016 and is estimated to reach US$ 2379.5 Mn by 2025. The report highlights the current trends in the global aerospace data recorders market and the factors influencing the growth of the market along with inhabitant factors.
The rising demand for air travel across the globe has increased significantly, which is demanding for more, technologically enhanced aircraft. In order to meet the rising demand of passengers, the number of aircraft orders and deliveries are also increasing rapidly. The factor is highly beneficial for the aerospace data recorders manufacturers as they can offer and deliver the new, lightweight, compact, technologically robust data and voice recorders. In addition, the aircraft manufacturers are witnessing a substantial growth in modernization of aircrafts from commercial as well as military sectors in order to enhance the technicalities of the aircrafts. Owing to this factor, the aircraft manufacturers are increasing the number of aerospace data recorders numbers, as a result of which, the market for aerospace data recorders is growing at fair rate over the periods. However, the vulnerability to cyber-attack is restraining the growth of the market for aerospace data recorders.
The aerospace data recorders market is highly poised to grow over the forecast period due to the emergence of new technologies. The development of data and voice recorders with enhanced recording time is expected to gain interest among the end users of aerospace data recorders. According to Federal Aviation Administration, the maximum time a recorder can store recording was 2 hours. However, the time of data storage is being increased to 25 hours, owing to insufficiency of relevant information from the conventional data and voice recorders.
The global aerospace data recorders market is segmented based on types, application and geography. On basis of types, the market for aerospace data recorders in classified as cockpit voice recorders, flight data recorders, data loggers and quick access recorders. The market for aerospace data recorders find application in the commercial aircrafts segment and military aircrafts segments. Geographically, the aerospace data recorders market is segregated on basis of five strategic regions namely North America, Europe, Asia Pacific, Middle East and Africa and South America.
The end users of aerospace data recorder are expected to witness an exponential growth in the near future, attributing to the research and developments carried out by the data and voice recorder manufacturers across the globe. The leading market players in the field of aerospace data recorders are Honeywell International Inc. (United States), L-3 Technologies Inc. (United States), Teledyne Technologies Inc. (United States), RUAG AG (Switzerland), Universal Avionics Systems Corporation (United States), FLYHT Aerospace Solutions (Canada), AstroNova Inc. (United States), Leonardo DRS (United States), Curtiss-Wright Defense Solutions (United States) and MadgeTech Inc. (United States) among others.
The report segments the global Aerospace Data Recorders market as follows:
Global Aerospace Data Recorders Market - By Type
Cockpit Voice Recorder
Flight Data Recorder
Quick Access Recorder
Global Aerospace Data Recorders Market - By Application
Global Aerospace Data Recorders Market - By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of Middle East and Africa
South America (SAM)
Rest of South America