Aerospace Data Recorders Market 2025 - Global Analysis and Forecasts
NEW YORK, Nov. 13, 2017 /PRNewswire/ -- The aerospace data recorders are electronics systems that are used to track and record every on-flight information, flight data such as altitude, speed, position and cockpit conversation. These recorded data or information facilitates in investigation during an aircraft accident or incident.
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The growth of aerospace data recorders market is highly influenced by the public private partnerships in the developed nations and in some of the emerging economies. The government of various developed countries are encouraging the public airlines as well as defense forces to partner with different private companies in order to procure aircraft components. This has given rise to aircraft modernization practices, which is a major trend in the developed nations and few developing countries.
Additionally, the aircraft manufacturers are witnessing a demand in real time data transmission, which in turn is pressuring the aerospace data recorders manufacturers to design and develop robust technologies in order to meet the demand of real time data transmission. The real time data transmission involves use of Internet of Things and other computer languages, which helps in transmitting the recorded data collected by the recorders to the ground while the aircraft is airborne.
The global aerospace data recorder market is anticipated to surge over the period from 2017 to 2025 at a CAGR of 5.8% to account for US$ 2379.5 million as compared to US$ 1460.9 million in 2016. The report segments the market on basis of types, application and geographical locations.
The various types of aerospace data recorders are cockpit voice recorders, flight data recorders, data loggers and quick access recorders. Based on application, the market for aerospace data recorders is bifurcated as commercial aircrafts and military aircrafts. The geographical segmentation is considered on basis of five regions as North America, Europe, Asia Pacific, Middle East and Africa and South America.
The flight data recorder held the largest market share in aerospace data recorders in 2016, while the cockpit voice recorder segment is expected to be the fastest growing type segment during the forecast period from 2017 to 2025. The rising demand for recording every details of pilot's conversation with the first office, air traffic controls, on board crews in order to fetch maximum data from the recorders during any investigation, the manufacturers are integrating cockpit voice recorders with enhanced technologies. This is leading to more procurement of enhanced cockpit voice recorders, as a result, the segment is estimated to be the fastest growing type segment.
On basis of application, the commercial aviation captured the maximum market share and the segment is estimated to be the fastest growing segment. This is due to significant growth in air traffic and is also expected that the global airspace will witness double the present air traffic in the near future.
Owing to this fact, the commercial airlines are ordering more aircrafts to satisfy the demand of passengers. The increase in number of commercial aircrafts is directly proportional to increase in number of data and voice recorders procurement. Thus, the commercial aircraft segment is helping the market for aerospace data recorders to grow over the period from 2017 to 2025.
Geographically, North America dominated the market for aerospace data recorders with the largest market share, due to presence of large numbers of established and emerging players in the market. Moreover, the United States Department of Defense invests significant amounts in research and development of robust technologies in order to enhance the technicalities of military as well as commercial aircrafts.
However, extraordinary growth of commercial aviation in Asia Pacific region is anticipated to be the reason behind the region to grow at a significant rate in the aerospace data recorders market. Countries such as China, India, Australia among others are witnessing rapid increase in air traffic, demanding for more aircrafts in the region. This is leading the region to dominate during the forecast period from 2017 to 2025.
From the military aircrafts point of view, the major defense forces are investing huge amounts to develop and procure advanced data and voice recorders in order to equip their aircrafts with enhanced technologies. Attributing to these factors, the region is projected to be the fastest growing region during the forecast period from 2017 to 2025.
The established as well as emerging players operating in the market for aerospace data recorder are considered in the research report. These includes Honeywell International Inc.
(United States), Teledyne Technologies Inc. (United States), AstroNova Inc. (United States), L-3 Technologies Inc. (United States), FLYHT Aerospace Solutions (Canada), Curitss-Wright Defense Solutions (United States), Leonardo DRS (United States), MadgeTech Inc. (United States), Universal Avionics Systems Corporation (United States) and RUAG AG (Switzerland) among others.
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