According to The Insight Partners 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.
Rising concerns for reduction in travel time, is demanding for air travel, which is increasing the number of aircrafts across the global airspace.
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.
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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
Data Loggers
Quick Access Recorder
Global Aerospace Data Recorders Market – By Application
Commercial Aircrafts
Military Aircrafts
Global Aerospace Data Recorders Market – By Geography
North America: U.S., Canada, Mexico
Europe: France, Germany, Italy, Spain, U.K. and Rest of Europe.
Asia Pacific (APAC): Australia, China, India, Japan and Rest of APAC.
Middle East and Africa (MEA): Saudi Arabia, U.A.E., South Africa and Rest of Middle East and Africa.
South America (SAM): Brazil and Rest of SAM
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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 Market 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 Aerospace Data Recorders Market.
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.
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
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.
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