The aerospace data recorders market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. 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 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. 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.
Based on type, the flight data recorders segment dominated the global aerospace data recorders market in 2016. Owing to the development of flight data recorders in terms of recording time, recording parameters, and real time data transmission to ground, the flight data recorders market is expected to surge over the period.
Based on application, the commercial aircrafts segment held the largest share in global aerospace data recorders market in 2016. the commercial aviation is growing at a rapid pace across the globe, leading to significant rise in aircraft orders and manufacturing. The leading commercial airlines are increasing the fleets across the globe in order to meet the demand of increasing demand. Another major factor driving the aerospace data recorders market through commercial aviation is the rising demand for real time data transmission from air to ground.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
The regional trends and factors influencing the Aerospace Data Recorders Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aerospace Data Recorders Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2016 | US$ 1.46 Billion |
| Market Size by 2025 | US$ 2.38 Billion |
| Global CAGR (2016 - 2025) | 5.8% |
| Historical Data | 2014-2015 |
| Forecast period | 2017-2025 |
| Segments Covered |
By Types
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aerospace Data Recorders Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aerospace Data Recorders Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies