Data Recorder Market - Evolving Industry Trends

Posted by Akshata Sharma on November 7th, 2019

Philippines, Nov-07, 2019 /(Aerospace NEWS)-- The data recorder market for aerospace and marine is estimated to be at ,380.40 Million in 2014. The market is expected to register a CAGR of 4.52% to reach ,799.50 Million by 2020.

Technologies are reaching maturity, development tools are up and running, and everybody has focused their energies on common goal. The next step is to integrate this innovative approach to gather the data from the single unit.

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The report carries in-depth analysis of the data recorder market. It provides information on the various types of technology used in aerospace and marine. The analysis has been carried out with respect to geography, technology, and the current market scenario.

It throws light on current market trends, the drivers and restraints, the challenges faced, and the opportunities that will impact growth in this market.

The report also delivers information about the technology roadmap that underlines the trends for the data recorder market, and also highlights the technologies that is expected to dominate the market in the future.

Asia-Pacific (APAC) is expected to restore its technology platform in the future, to meet the changing demands of the stakeholders in this industry. The APAC region is projected to grow significantly during the forecast period.

Despite the economic downturn in the North American and European region, there is expected to be a demand for these systems, owing to the technology advancements and strong R&D initiatives by major players in this region. The APAC countries are slated to focus on growth and direct their region’s economies on a higher path for the long run.

The report contains a competitive landscape for data recorder systems market and gives the market share of companies based on the usage of data recorder technology in aircraft industry.

The regions taken into consideration are Europe, North America, Latin America, the Middle East, and Asia Pacific.

Market covered

The data recorder market is categorized on the basis of types, geography, and country.

Source: MarketsandMarkets Analysis

The data recorder market for aerospace and marine is estimated to be at ,380.40 Million in 2014. The market is expected to register a CAGR of 4.52% to reach ,799.50 Million by 2020.

Technological advancements, coupled with more stringent maritime safety standards imposed by the International Maritime Organization (IMO), have led to ships being equipped with more sophisticated navigational equipment these days.

However, most ships may also have on board a course recorder, echo sounder, ECDIS, AIS, VDR, engine telegraph recorder and/or GPS navigator printer on the bridge. The data retrieved from these navigational devices is evidence of a high order as each device is an independent source of contemporaneous evidence and will enable the investigator to confirm and verify the observations of the ships leading to the collision.

Flight recorders are designed to survive both high-speed impact and post-impact fire. They are, however, not invulnerable and are sometimes destroyed. The recorder is designed to ensure that data, rather than the recorder itself, survives an accident. The data storage medium (tape or microchips) is mounted inside an impact-resistant and fire-resistant container.

This report covers the analysis and forecast of the data recorder market. It is segmented on the basis of types, regions, and countries. The report highlights factors driving the market, along with its restraints, challenges, opportunities and burning issues. It also contains brief about latest technologies, market and industry trends and describes industry business cycle.

The data recorder market analysis exemplifies the forecast for five major data recorder types: cockpit voice recorder, flight data recorder, voyage data recorder, quick access recorder, and data loggers. The geographical analysis describes the data recorder forecast for major regions including North America, Europe, Asia-Pacific (APAC), the Middle East, and Rest of World. Currently, North America and Europe are currently dominating the market; however, the APAC region is expected to register the highest CAGR by 2020.

The report offers the profile of leading competitors in the data recorder market; it includes the general overview of companies, along with their financial position, key products, and market sizes. The key players in this market include L-3 Aviation Recorder (U.S), HR Smith group (U.K.), Teledyne Technologies, Inc. (U.K.), Honeywell International, Inc. (U.S.), and Danelec Marine A/S (U.S.).