In terms of revenue, the global aerospace data recorders market was valued at US$ 1,460.9 market million in 2016 and is projected to reach US$ 2,379.5 million by 2025; it is expected to grow at a CAGR of 5.8% during the forecast period from 2017 to 2025.
The aerospace data recorders market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. North America is the major investor in the aerospace data recorder market, due to presence of large number of manufacturers in the region. Moreover, the United States Department of Defense is the major contributor in the defense industry across the globe. Europe trails North America in terms of expenditure in the aerospace data recorders market. The aircraft manufacturer giant, Airbus is one of the major revenue generator in the region in the aerospace data recorder market. Asia Pacific region is poised to generate healthy revenue in the coming years due to emerging aerospace technological companies in the region. Countries such as China, India, Japan and South Korea are investing heavily in order to manufacture advanced aircraft components
Lucrative Regional Aerospace Data Recorders Market
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Market Insights–Aerospace Data Recorders Market
Increased Aircraft Modernization Programs
The global aerospace industry is witnessing a rapid increase in air traffic, which is demanding for advanced aircrafts, in both commercial as well as military sectors. Due to this, the commercial airlines as well as the defense forces are transforming the conventional systems to robust technologies on their fixed wing aircrafts, rotary wing aircrafts and unmanned aerial vehicles. The modernization of aircrafts includes new engines, modern digital communication systems, technologically enhanced landing gears and brakes, advanced armaments and navigation flight systems, inflight entertainment systems, and data recorders among others. The modernization of aircrafts is beneficial for the data recorder manufacturers as the new data recorders are smaller, more reliable, faster, high capacity to store data, more accurate, as well as lightweight. These benefits of new data recorders increase the interest among the defense forces and commercial airliners to modernize the data acquisition systems in order to ease the investigation process. Thus, the modernization of aircrafts, helicopters, and unmanned aerial vehicles catalyzes the growth of aerospace data recorders.
Type Segment Insights
Based on type, the flight data recorders segment dominated the global aerospace data recorders market in 2016. Owing to the development of flight data recorders in terms of recording time, recording parameters, and real time data transmission to ground, the flight data recorders market is expected to surge over the period.
Application Segment Insights
Based on application, the commercial aircrafts segment held the largest share in global aerospace data recorders market in 2016. the commercial aviation is growing at a rapid pace across the globe, leading to significant rise in aircraft orders and manufacturing. The leading commercial airlines are increasing the fleets across the globe in order to meet the demand of increasing demand. Another major factor driving the aerospace data recorders market through commercial aviation is the rising demand for real time data transmission from air to ground.
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Aerospace Data Recorders Market: Strategic Insights
Market Size Value in US$ 1,460.9 market Million in 2016 Market Size Value by US$ 2,379.5 Million by 2025 Growth rate CAGR of 5.8% from 2017-2025 Forecast Period 2017-2025 Base Year 2017
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Aerospace Data Recorders Market: Strategic Insights
| Market Size Value in | US$ 1,460.9 market Million in 2016 |
| Market Size Value by | US$ 2,379.5 Million by 2025 |
| Growth rate | CAGR of 5.8% from 2017-2025 |
| Forecast Period | 2017-2025 |
| Base Year | 2017 |
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2017, Airbus, with collaboration of L3 technologies, is launching new fixed and deployable flight data and voice recorder. This recorder will have the extended duration of 25 hours.
- In 2017, RUAG Holdings AG marked the completion of 15,000 flight data recorder maintenance. The company guarantees the maximum maintenance time period of 3 days for a single component of flight data recorder.
- In 2016, Honeywell International Inc. will upgrade GoAir’s flight data recorders with its advanced data recorders which will facilitate the airlines with robust situational awareness and more information about the flight.
The global aerospace data recorders market has been segmented as follows:
Aerospace Data Recorders Market – By Types
- Cockpit Voice Recorders
- Flight Data Recorders
- Data Loggers
- Quick Access Recorders
Aerospace Data Recorders Market – By Application
- Commercial
- Military
Aerospace Data Recorders Market- By Region
North America
- US
- Canada
- Mexico
Europe
- Germany
- UK
- Russia
- Italy
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Aerospace Data Recorders Market – Companies Profiles
- Honeywell International Inc.
- Teledyne Technologies
- RUAG AG
- Universal Avionics Systems Corporation
- L3Harris Technologies
- Curtiss-Wright Defense Solutions
- AstroNova Inc.
- FLYHT Aerospace Solutions Ltd.
- Leonardo DRS
- MadgeTech Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Types & Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 10
2 Introduction 13
2.1 Scope of the Study 13
2.2 The Insight Partners Research Report Guidance 13
3 Key Takeaways 15
4 Market Landscape 18
4.1 Market Overview 18
4.2 Market Segmentation 19
4.2.1 Global Aerospace Data Recorders Market - By Types 21
4.2.2 Global Aerospace Data Recorder Market - By Application 21
4.2.3 Global Aerospace Data Recorders Market - By Geography 21
4.3 Porter’s Five Forces 23
4.3.1 Bargaining Power of Buyers 23
4.3.2 Bargaining Power of Suppliers 24
4.3.3 Threats to Substitute Products 24
4.3.4 Threats to New Entrants 24
4.3.5 Competitive Rivalry 24
4.4 Value Chain Analysis - Aerospace Data Recorders Market 26
4.4.1 Raw Material Suppliers 26
4.4.2 System Integrators 27
4.4.3 End Users 27
4.4.4 Suppliers and Distributors 28
5 Global Aerospace Data Recorder Market - Key Industry Dynamics 29
5.1 Key Market Drivers 29
5.1.1 Rapid Increase in Air Traffic 29
5.1.2 Rising Demand for Real Time Data Transmission 29
5.1.3 Increased Aircraft Modernization Programs 30
5.2 Key Market Restraints 31
5.2.1 High Cost of Next Generation Data Recorders 31
5.2.2 Vulnerability to Cyber-Attacks 31
5.3 Key Market Opporunities 32
5.3.1 Increasing Demand for Lightweight Cockpit Voice Recorders 32
5.3.2 Implementation of Data Recorders with Increased Recording Time 32
5.4 Future Trends 33
5.4.1 Development of Crash Protected Fixed and Deployable Voice and Data Recorders 33
5.5 Impact Analysis of Drivers and Restraints 33
6 Aerospace Data Recorder Market - Global 35
6.1 Global Aerospace Data Recorder Market Overview 35
6.2 Global Aerospace Data Recorder Market Forecast and Analysis 37
7 Global Aerospace Data Recorder Market Analysis - By Types 38
7.1 Overview 38
7.2 Cockpit Voice Recorder 39
7.2.1 Overview 39
7.2.2 Global Cockpit Voice Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 39
7.3 Flight Data Recorder 41
7.3.1 Overview 41
7.3.2 Global Flight Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 41
7.4 Data Loggers 43
7.4.1 Overview 43
7.4.2 Global Data Loggers Market Revenue and Forecasts to 2025 (US$ Mn) 43
7.5 Quick Access Recorder 44
7.5.1 Overview 44
7.5.2 Global Quick Access Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 44
8 Global Aerospace Data Recorder Market Analysis - By Application 45
8.1 Overview 45
8.2 Commercial Aircrafts 46
8.2.1 Overview 46
8.2.2 Global Commercial Aircrafts Revenue and Forecasts to 2025 (US$ Mn) 46
8.3 Military Aircrafts 48
8.3.1 Overview 48
8.3.2 Global Military Aircrafts Market Revenue and Forecasts to 2025 (US$ Mn) 48
9 Global Aerospace Data Recorder Market - Geographical Analysis 50
9.1 Overview 50
9.2 North America Aerospace Data Recorder Market Revenue and Forecasts to 2025 51
9.2.1 Overview 51
9.2.2 North America Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 52
9.2.3 North America Aerospace Data Recorder Market Breakdown by Key Countries 53
9.2.3.1 U.S. Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 54
9.2.3.2 Canada Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 55
9.2.3.3 Mexico Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 56
9.2.4 North America Aerospace Data Recorder Market Breakdown by Types 57
9.2.5 North America Aerospace Data Recorder Market Breakdown by Application 58
9.3 Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 60
9.3.1 Overview 60
9.3.2 Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 61
9.3.3 Europe Aerospace Data Recorder Market Breakdown by Key Countries 62
9.3.3.1 Italy Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 63
9.3.3.2 Germany Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 64
9.3.3.3 Russia Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 65
9.3.3.4 UK Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 66
9.3.3.5 Rest of Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 67
9.3.4 Europe Aerospace Data Recorder Market Breakdown by Types 68
9.3.5 Europe Aerospace Data Recorder Market Breakdown by Application 69
9.4 Asia Pacific (APAC) Aerospace Data Recorder Market Revenue and Forecasts to 2025 71
9.4.1 Overview 71
9.4.2 Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 72
9.4.3 Asia Pacific Aerospace Data Recorder Market Breakdown by Key Countries 73
9.4.3.1 Japan Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 74
9.4.3.2 China Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 75
9.4.3.3 India Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 77
9.4.3.4 Rest of Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 79
9.4.4 Asia Pacific Aerospace Data Recorder Market Breakdown by Types 80
9.4.5 Asia Pacific Aerospace Data Recorder Market Breakdown by Application 81
9.5 Middle East & Africa (MEA) Aerospace Data Recorder Market Revenue and Forecasts to 2025 83
9.5.1 Overview 83
9.5.2 Middle East & Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 84
9.5.3 Middle East & Africa Aerospace Data Recorder Market Breakdown by Key Countries 85
9.5.3.1 Saudi Arabia Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 86
9.5.3.2 UAE Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 87
9.5.3.3 South Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 88
9.5.3.4 Rest of Middle East and Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 89
9.5.4 Middle East and Africa Aerospace Data Recorder Market Breakdown by Types 90
9.5.5 Middle East and Africa Aerospace Data Recorder Market Breakdown by Application 91
9.6 South America Aerospace Data Recorder Market Revenue and Forecasts to 2025 93
9.6.1 Overview 93
9.6.2 South America Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 93
9.6.3 South America Aerospace Data Recorder Market Breakdown by Key Countries 94
9.6.3.1 Brazil Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 95
9.6.3.2 Rest of South Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 96
9.6.4 South America Aerospace Data Recorder Market Breakdown by Types 97
9.6.5 South America Aerospace Data Recorder Market Breakdown by Application 98
10 Industry Landscape 100
10.1 Market Initiative 100
10.2 New Developments 100
11 Competitive Landscape 101
11.1 Competitive Product Mapping 101
11.2 Market Positioning - Global Top 5 Players Ranking 102
11.3 Competitor Positions 104
12 Global Aerospace Data Recorder Market - Key Company Profiles 105
12.1 Honeywell International Inc. 105
12.1.1 Key Facts 105
12.1.2 Business Description 105
12.1.3 Financial Overview 106
12.1.4 SWOT Analysis 106
12.1.5 Key Developments 108
12.2 L3 Technologies, Inc 109
12.2.1 Key Facts 109
12.2.2 Business Description 109
12.2.3 Financial Overview 110
12.2.4 SWOT Analysis 110
12.2.5 Key Developments 112
12.3 Teledyne Technologies, Inc. 113
12.3.1 Key Facts 113
12.3.2 Business Description 113
12.3.3 Financial Overview 114
12.3.4 SWOT Analysis 114
12.3.5 Key Developments 117
12.4 RUAG Holdings AG 118
12.4.1 Key Facts 118
12.4.2 Business Description 118
12.4.3 Financial Overview 119
12.4.4 SWOT Analysis 119
12.4.5 Key Developments 122
12.5 AstroNova Inc. 123
12.5.1 Key Facts 123
12.5.2 Business Description 123
12.5.3 Financial Overview 124
12.5.4 SWOT Analysis 124
12.5.5 Key Developments 126
12.6 Universal Avionics Systems Corporation 127
12.6.1 Key Facts 127
12.6.2 Business Description 127
12.6.3 Financial Overview 128
12.6.4 SWOT Analysis 128
12.6.5 Key Developments 130
12.7 Curtiss-Wright Defense Solutions 131
12.7.1 Key Facts 131
12.7.2 Business Description 131
12.7.3 Financial Overview 132
12.7.4 SWOT Analysis 132
12.7.5 Key Developments 134
12.8 FLYHT Aerospace Solutions Ltd. 135
12.8.1 Key Facts 135
12.8.2 Business Description 135
12.8.3 Financial Overview 136
12.8.4 SWOT Analysis 137
12.8.5 Key Developments 139
12.9 Leonardo DRS 140
12.9.1 Key Facts 140
12.9.2 Business Description 140
12.9.3 Financial Overview 141
12.9.4 SWOT Analysis 141
12.9.5 Key Developments 143
12.10 MadgeTech Inc. 144
12.10.1 Key Facts 144
12.10.2 Business Description 144
12.10.3 Financial Overview 145
12.10.4 SWOT Analysis 145
12.10.5 Key Developments 146
13 Appendix 147
13.1 About The Insight Partners 147
13.2 Glossary of Terms 148
13.3 Methodology 148
13.3.1 Coverage 148
13.3.2 Secondary Research 149
13.3.3 Primary Research 149
13.4 Contact Us 150
13.5 Disclaimer 151
List of Tables
Table 1: Global Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 38
Table 2: North America Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Types (US$ Mn) 58
Table 3: North America Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Application (US$ Mn) 60
Table 4: Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Types (US$ Mn) 69
Table 5: Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Application (US$ Mn) 71
Table 6: Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Types (US$ Mn) 81
Table 7: Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Application (US$ Mn) 83
Table 8: Middle East and Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Types (US$ Mn) 91
Table 9: Middle East and Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Application (US$ Mn) 93
Table 10: South America Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Types (US$ Mn) 98
Table 11: South America Aerospace Data Recorder Market Revenue and Forecasts to 2025 - By Components (US$ Mn) 100
Table 12: Glossary of Terms, Aerospace Data Recorder Market 149
List of Figures
Figure 1: Asia Pacific Aerospace Data Recorder Market, Revenue (US$ Mn), 2016 & 2025 15
Figure 2: Global Aerospace Data Recorder Market by Types, Revenue (US$ Mn), 2017 16
Figure 3: Aerospace Data Recorder Market Segmentation 19
Figure 4: Aerospace Data Recorder Market Segmentation 20
Figure 5: Porter’s Five Forces 23
Figure 6: Global Aerospace Data Recorder Market 35
Figure 7: Global Aerospace Data Recorder Market Breakdown By Systems, 2016 & 2025 (%) 38
Figure 8: Global Cockpit Voice Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 40
Figure 9: Global Flight Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 42
Figure 10: Global Data Loggers Market Revenue and Forecasts to 2025 (US$ Mn) 43
Figure 11: Global Quick Access Recorders Market Revenue and Forecasts to 2025 (US$ Mn) 44
Figure 12: Global Quick Access Recorders Market Revenue and Forecasts to 2025 (US$ Mn) 45
Figure 13: Global Commercial Aircrafts Market Revenue and Forecasts to 2025 (US$ Mn) 47
Figure 14: Global Military Aircrafts Market Revenue and Forecasts to 2025 (US$ Mn) 49
Figure 15: Aerospace Data Recorder Market, Global Breakdown by Regions, 2016 (%) 50
Figure 16: North America Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 52
Figure 17: North America Aerospace Data Recorder Market Breakdown by Key Countries, 2016 & 2025 (%) 53
Figure 18: U.S. Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 54
Figure 19: Canada Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 55
Figure 20: Mexico Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 56
Figure 21: North America Aerospace Data Recorder Market Breakdown by Types, 2016 & 2025 (%) 57
Figure 22: North America Aerospace Data Recorder Market Breakdown by Application, 2016 & 2025 (%) 58
Figure 23: Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 61
Figure 24: Europe Aerospace Data Recorder Market Breakdown by Key Countries, 2016 & 2025 (%) 62
Figure 25: Italy Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 63
Figure 26: Germany Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 64
Figure 27: Russia Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 65
Figure 28: UK Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 66
Figure 29: Rest of Europe Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 67
Figure 30: Europe Aerospace Data Recorder Market Breakdown by Types, 2016 & 2025 (%) 68
Figure 31: Europe Aerospace Data Recorder Market Breakdown by Application, 2016 & 2025 (%) 69
Figure 32: Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 72
Figure 33: Asia Pacific Aerospace Data Recorder Market Breakdown by Key Countries, 2016 & 2025 (%) 73
Figure 34: Japan Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 74
Figure 35: China Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 76
Figure 36: India Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 78
Figure 37: Rest of Asia Pacific Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 79
Figure 38: Asia Pacific Aerospace Data Recorder Market Breakdown by Types, 2016 & 2025 (%) 80
Figure 39: Asia Pacific Aerospace Data Recorder Market Breakdown by Application, 2016 & 2025 (%) 81
Figure 40: Middle East & Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 84
Figure 41: Middle East & Africa Aerospace Data Recorder Market Breakdown by Key Countries, 2016 (%) 85
Figure 42: Saudi Arabia Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 86
Figure 43: UAE Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 87
Figure 44: South Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 88
Figure 45: South Africa Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 89
Figure 46: Middle East and Africa Aerospace Data Recorder Market Breakdown by Types, 2016 & 2025 (%) 90
Figure 47: Middle East and Africa Aerospace Data Recorder Market Breakdown by Application, 2016 & 2025 (%) 91
Figure 48: South America Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 93
Figure 49: South America Aerospace Data Recorder Market Breakdown by Key Countries, 2016 & 2025 (%) 94
Figure 50: Brazil Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 95
Figure 51: Brazil Aerospace Data Recorder Market Revenue and Forecasts to 2025 (US$ Mn) 96
Figure 52: South America Aerospace Data Recorder Market Breakdown by Types, 2016 & 2025 (%) 97
Figure 53: South America Aerospace Data Recorder Market Breakdown by Application, 2016 & 2025 (%) 98
Figure 54: Aerospace Data Recorder Market Competitive Product Mapping 101
- Honeywell International Inc.
- L3 Technologies, Inc
- Teledyne Technologies, Inc.
- RUAG Holdings AG
- AstroNova Inc.
- Universal Avionics Systems Corporation
- Curtiss-Wright Defense Solutions
- FLYHT Aerospace Solutions Ltd.
- Leonardo DRS
- MadgeTech Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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