Albany, NY -- (SBWIRE) -- 11/27/2017 -- The aerospace industry across the globe has been experiencing rapid escalation in air traffic in the past few years. In order to meet the rising air traffic, the airline operator are ordering for more aircrafts, integrated with latest technologies. This trend is expected to grow the market for aerospace data recorder market in the current scenario. The aerospace data recorder are the electronic devices used to record or collect any electronic signals sent to the aircraft as well as the conversation between the pilots' and the on board crews and air traffic controller. These devices are used by the aircraft accident investigation agencies and the aircraft operators during any aircraft accident or incidents.
Global Aerospace Data Recorder Market: Drivers and Trends
The demand for accurate and precise flight data among the airline operators and defense forces across the globe are fuelling the growth of market for aerospace data recorder. Another factor bolstering the growth of the aerospace data recorder market during the forecast period from 2017 to 2025 is the modernization of the existing aircraft with latest technology. The latest technology will offer the commercial airlines and defense forces with enhanced safety and operation benefits. The modernization of aircrafts are evoking the interest among the manufacturers to incorporate robust data recorders.
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The benefits of flight recorders can help the airliners and investigation agencies to identify and detect the cause of the accident or incident. In order to meet the surging demand for modernization of aircrafts, the manufacturers are procuring the data recorders in large numbers, which in turn is helping the aerospace data recorder market to grow over the period
The market for aerospace data recorder is poised to grow in future due to introduction of expanded underwater locator beacon. The manufacturers of flight recorders have developed a new underwater locator beacon which can operate under water for maximum of 90 days, which was limited to 30 days in the conventional aerospace data recorders. This development is anticipated to impact heavily on the growth of market for aerospace data recorder in the coming years.
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Geographically, the aerospace data recorder market is categorized on basis of five key regions as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The majority of the market share was contributed by North America in 2016 followed by Europe. Due to extensive research and development being carried out in the North America region in order to manufacture technologically robust flight recorder, the region is leading the market in 2016. Asia Pacific is witnessing huge demand for air traffic especially in the countries such as China, India, Japan and South Korea among others, due to which the region is estimated to be the fastest growing region globally.
Global Aerospace Data Recorder Market: Competitive Analysis
Across five key regions globally, the top ten participants operating in the market for aerospace data recorder has been profiled in this report. The participants are Honeywell International Inc. (U.S), Teledyne Technologies Incorporated (U.S), AstroNova Inc. (U.S), SLN Technologies (India), FLHYT Aerospace Solutions Ltd. (Canada), Leonardo DRS (U.S), RUAG Group (Switzerland), Curtiss-Wright Defense Solutions (U.S), L-3 Technologies Inc. (U.S), Universal Avionics Systems Corporation (U.S).
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