Cockpit Voice Recorder & Flight Data Recorder (2014-2020)
The cockpit voice recorder (CVR) and flight data recorder (FDR) market is estimated to be at $136.74 million in 2014 and is expected to register a CAGR of 3.22% to reach $166.08 million by 2020. The key growth regions include the Middle East and Asia-Pacific. China and Brazil will show consistent levels of growth.
There will be a slight decline in the global share of advanced markets. The decline cannot be attributed to reduction in defense expenditure of western markets (Europe and the U.S.), but rather to significant investment growth in most emerging markets (BRIC). The Middle East region will continue spending in the aircraft market.
The major driving factor for this market includes enhanced situational awareness. CVR and FDR will be used in commercial and military avionics that will provide ample opportunities for China and India in this market.
In the next six years, International and domestic carriers will continue to demand more airplanes given the improved technology and an expansion by airline companies in Asia. With more new aircraft, more data and voice recorders will be in demand. Coupled with the fact that price of steel is expected to remain stable, thereby ensuring constant costs and profit margins.
This CVR & FDR market research report is unique in its exclusive coverage of the emerging markets. It offers insights into the market size forecasts, along with the key drivers and restraints. It also discusses pricing and interchangeability of CVR & FDR, in detail. It also assesses which manufacturers are most likely to adopt new technology and provides a comprehensive competitive analysis.
Related Reports:
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
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