The global Aerospace Data Recorders Market was valued at US$ 1.8 billion in 2022 and it is anticipated to grow up to US$ 2.8 billion by 2032, at a CAGR of 4.8% during the forecast period.
Download Free Sample of Report- https://www.globalinsightservices.com/request-sample/GIS25922
An aerospace data recorder is a device put in an aircraft that captures pertinent data while the aircraft is in flight. This data is retrieved after the flight to improve safety and operational efficiency and to aid in the investigation of aviation accidents and other events. In the worldwide market, an aeronautical data recorder or flight data recorder is sometimes known as a misnomer black box.
Market Drivers and Trends
One of the key factors driving the growth of the worldwide Aerospace Data Recorders Market is the government has legislated laws and regulations relevant to aviation safety. For example, the International Civil Aviation Organization (ICAO) has mandated various standards for installing Flight Data recorders based on aircraft type. As a result, the government and Flight Data Recorder manufacturers are spending substantial money to install flight data recorder systems in current aircraft fleets, which will boost Flight Data Recorder sales.
Furthermore, the expansion of the Flight Data Recorder market is dependent on the size of the aircraft fleet. As a result, considerable increases in passenger density are likely to drive the worldwide Flight Data Recorder market throughout the predicted time period. Furthermore, the expansion of the aviation sector and the research and development undertaken to create lighter and more efficient safety systems have ushered it into a boom phase in an area of innovation in the Flight Data Recorder market. These drivers are likely to propel market expansion.
Report Overview- https://www.globalinsightservices.com/reports/aerospace-data-recorders-market/
Market Restraints and Challenges
One of the restraints for the Aerospace Data Recorder Market is the high cost of installation. Along with the extensive legal and licenses necessary for the manufacture of aircraft components, the aircraft Data Recorder Market is hampered by tight standards and guidelines from governing bodies and the government.
Major Players in the Global Aerospace Data Recorders Market
The key players studied in the global Aerospace Data Recorders Market are Aversan Inc. , L3Harris Technologies, Inc., General Electric , Curtiss-Wright Corporation , Elbit Systems Ltd., Safran, Leonardo S.p.A, Flight Data Systems, Honeywell International Inc. , and Teledyne Controls LLC among others.
COVID-19 Impact
The COVID-19 epidemic had a significant impact on the commercial aviation sector. Reduced airline demand has resulted in fewer orders for new aircraft in recent years. Supply chain disruptions seen in the second and third quarters of 2020 throughout the world have presented problems to industry participants. The aviation sector is reviving, and new aircraft are being procured on a big scale throughout areas. This will very certainly increase demand for the whole aviation supply chain, including the aircraft flight recorder.
Get a customized scope to match your need, ask an expert – https://www.globalinsightservices.com/request-customization/GIS25922
Regulatory authorities like as EASA and ICAO are implementing changes to standards for installing new flight recorders (underwater locating devices and aircraft localization). As a consequence, many airlines are now in compliance with new requirements. This is likely to drive company expenditures in new products that comply with these rules, as well as demand for new recorders from aircraft OEMs and operators.
Global Aerospace Data Recorders Market Segmentation
By Type
- Cockpit Voice Recorders
- Flight Data Recorders
- Data Loggers
- Quick Access Recorders
By Application
- Commercial Aircrafts
- Military Aircrafts
Buy Now- https://www.globalinsightservices.com/checkout/single_user/GIS25922
With Global Insight Services, you receive:
- 10-year forecast to help you make strategic decisions
- In-depth segmentation which can be customized as per your requirements
- Free consultation with lead analyst of the report
- Excel data pack included with all report purchases
- Robust and transparent research methodology
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/