Market Overview
Flight Data Recorder (FDR) Market Size is expected to reach USD 1,380.39 Million by 2030, registering a CAGR of 4.51% during 2020-2030.
Aerospace data recorders are basically electronic devices that are used to record or collect any electronic signals sent to the aircraft as well as to record the conversation between the pilots' and the on-board crews and air traffic controller. Cockpit voice And flight data recorder market size market is witnessing significant growth, mainly due to the rapidly rising air passenger traffic and the subsequent demand for more aircraft fleet to manage the increasing air traffic.
As of 2016, there were more than 22,000 active aircraft across the globe. The existing fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years, and the global fleet is likely to reach 45,000 aircraft by 2036. Moreover, the high demand for air travel in the emerging regions, such as Asia, Latin America, and the Middle East, leads to an increase in the number of aircrafts in these regions. As a result, approximately 22,000 aircrafts are expected to be delivered to these regions in the next 20 years. On the other hand, it is expected that over 15,000 aircrafts would be delivered in developed regions such as North America and Europe, by 2036. Modernization of aircraft fleets with the latest technology, stringent government regulations and demand for accurate and precise flight data among the airline operators and defense forces are some of the other primary factors driving the demand in the cockpit voice And flight data recorder market development.
Key Players:
The key players in the global cockpit voice And flight data recorder market size market are AstroNova Inc. (US), Curtiss-Wright Defense Solutions (US), FLHYT Aerospace Solutions Ltd (Canada), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Leonardo DRS (US), RUAG Group (Switzerland), SLN Technologies (India), Teledyne Technologies Incorporated (US), and Universal Avionics Systems Corporation (US).
Market segmentation
The cockpit voice And flight data recorder market size market is segmented on type, technology, and region. Based on type, the market has been segmented into a cockpit voice recorder (CVR), quick access recorder, and data loggers. The CVR segment is expected to witness the highest CAGR during the forecast period. The high use of CVR to record the audio environment in the flight deck for accidents and incident investigation purposes is one of the key factors expected to propel the growth of this segment. Based on technology, the market has been segmented into flashcards, cloud computing, and solid-state cockpit voice recorder. The flashcards segment is expected to grow at the highest CAGR during the forecast period.
Regional Analysis
The market for Cockpit voice And flight data recorder market statistics size systems is expected to dominate in the North American region due to the rapidly rising research and development activities here. Established aviation industry and supporting infrastructure also aids in the market growth. Existence of sophisticated technology and major manufacturers in the North American region, have significantly contributed in the growth of the cockpit voice And flight data recorder market size market in the North American region.
Rapidly rising air passenger traffic in the Asia Pacific region, has been key to the high growth rate in this region. Rising government investment into the development of new airports and upgradation of old ones, have been majorly driving the growth of this market.
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