New Defense market report from Markets and Markets: "Cockpit Voice (Black Box), Towed Pinger Locator, Distress Radio Beacons, Flight Data Recorder Market - Forecast and Analysis to 2014 - 2020"
Boston, MA -- (SBWIRE) -- 10/13/2014 -- Cockpit Voice (Black Box), Towed Pinger Locator, Distress Radio Beacons, Flight Data Recorder Market by Application( Commercial, Military, UAV's) by Geography( North America, Latin America, The Middle East, APAC, And Europe)- Forecast and Analysis to 2014 - 2020
The global cockpit voice recorder (CVR), flight data recorder (FDR), towed pinger locator (TPL), and distress radio beacon (DRB) market is estimated to be $136.74 billion in 2014. The market is expected to register a CAGR of 3.22% to reach approximately $166.03 billion by 2020.
The growth in this market is driven by the need to investigate accidents and related incidents in avionics. CVRs and FDRs play a vital role in recording radio transmission and sounds in the aircraft alongside monitoring parameters such as altitude, airspeed, and heading. Commercial and military aircraft are equipped with two black boxes. These devices can be mounted on a unique or on separate platforms. The failure to retrieve the black box on the Malaysian airline flight MH370 has created a need to reduce the dependence on FDRs and CVRs; and come up with a new foolproof technology that can transmit flight data in real-time to the ground station.
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The report elaborates the drivers, challenges, opportunities, and restraints of the market. It gives an insight into the market and industry trends. It profiles the leading competitors in this market and provides a general overview of these companies with their products and services, financial analysis, and their key developments.
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