Aircraft Flight Recorder Market Revenues to Reach USD 135.25 million by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Aircraft Flight Recorder Market Report (2023-2028),” the market is estimated at USD 107.04 million in 2023. It is expected to register a CAGR of 4.79% during the forecast period.

A flight recorder of FDR or an aircraft black box is a device employed to record specific aircraft performance parameters. The aim of an FDR is to collect and record data from a variety of aircraft sensors onto a medium designed to survive an accident. The aircraft flight recorder market chiefly depends on the demand for new aircraft. The aviation industry is recovering, and procurement of new aircraft is being done on a large scale across various countries. This is likely to create demand for the entire aircraft supply chain, including the aircraft flight recorder.

Report Summary:

Who are the Top Companies in the Aircraft Flight Recorder Market?

The global aircraft flight recorder market is consolidated in nature.

The key players holding the global aircraft flight recorder market are:

• Aversan Inc.
• L3Harris Technologies Inc.
• The General Electric Company
• Curtiss-Wright Corporation
• Elbit Systems Ltd
• Safran
• Niron Systems & Projects
• Leonardo SpA
• Flight Data Systems
• Honeywell International Inc.

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Key Highlights from the Aircraft Flight Recorder Market Report:

Civil and Commercial Aviation Segment to Drive Market

• The civil and commercial aviation segment is estimated to grow with the highest CAGR during the forecast period. A cumulative number of aircraft deliveries, a rise in air traffic passengers, and the introduction of new technologies in the commercial aviation sector are critical factors that have fueled the market’s growth in recent times.
• Flight data recorders (FDRs) are utilized to record specific aircraft performance parameters. The FDRs collect and record data from a collection of aircraft sensors onto a medium designed to survive an accident.

APAC to Account for Major Market Growth

• Asia-Pacific is estimated to show the highest growth during the forecast period. Developing expenditure on the aviation sector and growing demand for new aircraft, especially from China and India, will boost the market growth across the region.
• As per the International Air Transport Association (IATA), China surpassed the United States and became the largest aviation market in the world in 2022. Besides, China is expected to reach a total of 1.5 billion aviation passengers by 2036.

What are the Latest Developments in the Aircraft Flight Recorder Market?  

• In February 2023, Hindustan Aeronautics Limited received the Indian Technical Standard Order (ITSO) from the Directorate General of Civil Aviation (DGCA) for its indigenously developed cockpit voice recorder and flight data recorder.
• In March 2022, The US Air Force awarded a USD 16 million firm-fixed-price indefinite-delivery/indefinite-quantity (IDIQ) contract to aerospace and defense industry technology company Mercury Systems.

 Mordor Intelligence has Segmented the Aircraft Flight Recorder Market Based on Type, End User, and Geography:

• • By Type
    • • Flight Data Recorder (FDR)
      • Cockpit Voice Recorder (CVR)
      • Cockpit Voice and Data Recorder (CVDR)
  • By End User
    • • Civil and Commercial Aviation
      • Military Aviation
  • By Geography
    • • North America
        • • United States  
          • Canada  
      • Europe  
        • • United Kingdom 
          • Germany  
          • France
          • Italy
          • Rest of Europe 
      • Asia-Pacific  
        • • China  
          • South Korea
          • Japan
          • India
          • Rest of Asia-Pacific  
      • Latin America
        • • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
        • • United Arab Emirates
          • South Africa
          • Egypt
          • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the  Aircraft Flight Recorder Market Report (2023-2028).

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About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Aircraft Flight Recorder Market - Mordor Intelligence