Newark, Jan. 15, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 473.83 Million in 2022 flight data recorder market will reach USD 790.39 Million by 2032. The growth of the flight data recorder market is influenced by the quantity of aircraft in operation. Therefore, it is expected that the global flight data recorder market would grow at a significant rate throughout the course of the projected period due to a growth in passenger density. The market for flight data recorders is also expanding as a result of ongoing research and development towards safer and lighter systems as well as the rise of the aviation industry.
Get more insights from the 230-page market research report @ https://www.thebrainyinsights.com/enquiry/sample-request/13926
Key Insight of the Flight Data Recorder Market
Europe is anticipated to expand at the highest CAGR of 8.24% over the projection period.
Europe is expected to grow at the highest CAGR of 8.24% over the forecast period. The continuous upgrading of defence and commercial aircraft, which is leading to investments in better technologies, is the primary driver of the region’s growth. Manufacturers of aerospace data recorders in Europe, for instance, have created a lightweight composite data recorder that can endure high-speed impacts and strong fire heat. This has clearly had a positive effect on Europe’s market for flight data recorders.
The Cockpit Voice Recorder (CVR) segment is expected to register the highest CAGR of 7.53% over the projected period in the flight data recorder market.
The Cockpit Voice Recorder (CVR) segment is anticipated to grow at the highest CAGR of 7.53% in the flight data recorder market. The CVR records the sounds in the cockpit, including the voices of the flight crew. The recorder’s “cockpit area microphone” is usually located on the upper instrument panel, halfway between the two pilots. A flight recorder is an electronic recording device that is installed in an aircraft with the goal of assisting in the investigation of aviation mishaps and accidents. Though it is no longer accurate because the device must be painted bright orange to aid in retrieval in the event of an accident, the term “black box” is nevertheless widely used in common speech.
Over the projected period, the civil & commercial aircraft segment is expected to register the highest CAGR of 8.95% in the flight data recorder market.
Over the forecasted period, the civil & commercial aircraft segment is anticipated to grow at the highest CAGR of 8.95% in the flight data recorder market. The introduction of new technology, a rise in air traffic passengers, and an increase in aircraft deliveries in the commercial aviation sector have all contributed to the market’s recent expansion. Commercial aviation is the branch of civil aviation that involves flying aircraft for pay or employment, as opposed to private aviation.
Custom Requirements can be requested for this report @ https://www.thebrainyinsights.com/enquiry/request-customization/13926
Driver: Increase in aircraft deliveries over the globe
The increasing demand for foreign deliveries around the world has led to an increased necessity for aerial delivery. The best transportation method has to be scheduled with frequent flight monitoring. This has led to a current need for data recorders in the aircraft sector. Thus, it is expected that a major factor driving the flight data recorder market would be the rise in aircraft deliveries that are taking place all over the world. The need for the global aviation industry to continue a variety of commercial operations will cause the number of aircraft to rise, which will increase traffic in the industry. This will require the adoption of suitable scheduling and monitoring systems for aeroplanes in order to prevent mishaps.
Restraint: Complexity in the flight data recorder (FDR) data integration
The integration of flight data recorders requires adherence to numerous regulations and norms, including those established by the International Civil Aviation Organisation (ICAO) and the Federal Aviation Administration (FAA). Extensive documentation and adherence to specific procedures are necessary to guarantee compliance. The flight data recorder market is expected to face substantial obstacles to its expansion because of the limited quantity of data that these compliances can retain in FDR. FDRs may be triggered by unauthorised access or cyberattacks. Access to FDR data is strictly controlled due to its sensitive nature. Only authorised persons with a legitimate need to know can access the data. Additionally, cybersecurity measures are implemented to protect FDR data from internet threats such as hacking.
Opportunity: Increasing demand for air travel in developing markets
Developing countries have invested in enhancing their airport infrastructure to manage the surge in air traffic. This includes expanding the current airports, developing new ones, and modernising airport services and technology in order to boost efficiency and improve the visitor experience. The growing use of aviation in emerging economies is expected to fuel the growth of the flight data recorder market.
Challenge: Data security
For FDRs, data security remains a top worry in spite of the safeguards. In view of potential new risks and challenges resulting from technology innovation, aviation authorities must continuously evaluate and improve current safety procedures to ensure that the FDR remains a reliable source of information for accident investigation.
|Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
|Asia Pacific, Europe, South America, North America, and Middle East & Africa
|USD 790.39 Million
|Data Warehousing Market CAGR
|Type, End User
Some of the major players operating in the flight data recorder market are:
• Raytheon Technologies Corporation
• Honeywell International Inc.
• Leonardo DRS
• Curtiss-Wright Corporation
• AstroNova, Inc.
• FLIGHT DATA SYSTEMS
• SLN Technologies
• Flight Data Vision
• FLYHT Aerospace Solutions Ltd.
• Latitude Technologies Corporation
• Elbit Systems Ltd.
• GENERAL ELECTRIC
• Teledyne Controls LLC
• HR Smith Group of Companies
• L3Harris Technologies, Inc.
• AMETEK. Inc.
• SECO S.p.a.
• Aversan Inc.
Key Segments cover in the market:
• Cockpit Voice Recorder (CVR)
• Flight Data Recorder (FDR)
• Quick Access Recorder (QAR)
By End User:
• Military Aircraft
• Civil & Commercial Aircraft
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Have a question? Speak to Research Analyst @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13926
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
Head of Business Development
Email: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.