Global Voyage Data Recorder Market Report Scope and Research Methodology

The reports provide a comprehensive overview of the Global Voyage Data Recorder market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the statistics, tables, and figures in this report for strategic planning that leads to the organization's success. The Global Voyage Data Recorder market report covers the key players in the industry, including Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales, as well as an in-depth analysis of the market's competitive landscape and definite data on vendors and thorough subtleties of elements that will challenge the development of significant market vendors. SWOT analysis and Porter's Five Force Analysis are used to define, characterize and analyse the Global Voyage Data Recorder market competition landscape, with a focus on global key players.

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Global Voyage Data Recorder Market Segmentation

By system type, simplified voyage data recorder (S-VDR) segment dominated the market in 2021 and is expected to maintain its dominance at a CAGR of 3.42% during the forecast period. S-VDR is defined by the demands of IMO Performance Standard MSC.163 (78). It is a simplified version of VDR with very low cost. It is basically used to record information which is extremely essential for marine investigators. S-VDR provides the comprehensible reason of the accident to marine community and also provides various protective methods to enhance future marine safety. Thus, rising adoption and installation of S-VDR on passenger ships is accredited to the growth of the market.

By application, naval and cargo ship segments are dominating the market in 2021 and is projected to witness fast growth at a CAGR of 3.42%during the forecast period. Rising sea trade across the world and growing advancements in the cargo ships are attributed to the growth of the market. In addition, surge in the adoption of VDR on naval and cargo vessels as it provides detailed information about the accidents and also provides benefits such as performance efficiency monitoring, preventive maintenance, reduced running costs, analysis of the heavy weather damage and enhanced safety are expected to expand growth of the market during the forecast period.

Region-wise, Asia Pacific held the largest market share in 2021 and is expected to maintain its dominance at a CAGR of 3.42% during the forecast period. The countries such as China, Japan, India and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the increasing adoption of various vessel management systems across the region. Rapidly growing market for marine industry, wide adoption of efficient marine navigation systems and marine safety protocols, escalating demand to provide safety to life at sea, rising activities related with maritime transport, vast presence of improved freight transport and marine network, increasing support from governments to improve costal and port security and rising need to avoid marine accidents are driving the growth of the market in the Asia Pacific region.

Global Voyage Data Recorder Market Key Players

• DANELEC MARINE
• INTERSCHALT
• FURUNO ELECTRIC CO., LTD.
• Japan Radio Co.
• Northrop Grumman Sperry Marine B.V.
• Netwave Systems B.V.
• Beijing Highlander Digital Technology Co., Ltd.
• Consilium AB Publ.
• Totem Plus Ltd
• Orolia Maritime
• Wartsila
• Cargotec Corporation
• DCSI LTD
• Kelvin Hughes
• Jotron AS
• Maretron
• Raytheon Company

Key Offerings:

Market Share, Size & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by X, X, X and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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