The global market for global Flight Data Recorder market is expected to witness significant growth between 2016 and 2023.
Aerospace data recorders are basically electronic devices that are used to record or collect any electronic signals sent to the aircraft as well as to record the conversation between the pilots' and the on board crews and air traffic controller. Flight data recorder market is witnessing significant growth, mainly due to the rapidly rising air passenger traffic and the subsequent demand for more aircraft fleet to manage the increasing air traffic.
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Global Flight Data Recorder Market:
As of 2016, there were more than 22,000 active aircraft across the globe. The existing fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years, and the global fleet is likely to reach 45,000 aircraft by 2036. Moreover, the high demand for air travel in the emerging regions, such as Asia, Latin America, and the Middle East, leads to an increase in the number of aircrafts in these regions. As a result, approximately 22,000 aircrafts are expected to be delivered to these regions in the next 20 years. On the other hand, it is expected that over 15,000 aircrafts would be delivered in developed regions such as North America and Europe, by 2036. Modernization of aircraft fleets with the latest technology, stringent government regulations and demand for accurate and precise flight data among the airline operators and defense forces are some of the other primary factors driving the demand in the flight data recorder market.
The key players of global Flight Data Recorder market 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).
Market Research Analysis:
The market for Flight Data Recorder systems is expected to dominate in the North American region due to the rapidly rising research and development activities here. Established aviation industry and supporting infrastructure also aids in the market growth. Existence of sophisticated technology and major manufacturers in the North American region, have significantly contributed in the growth of the flight data recorder market in the North American region.
Rapidly rising air passenger traffic in the Asia Pacific region, has been key to the high growth rate in this region. Rising government investment into the development of new airports and upgradation of old ones, have been majorly driving the growth of this market.
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