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(Wireless-NewsWire.Com, November 17, 2017 ) 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 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. 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.
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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.
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, and 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.
Companies List
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.
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