Voyage Data Recorder (VDR) Market Key Players - Danelec Marine A/S , INTERSCHALT maritime systems GmbH , Furuno Electric CO., Ltd.

Market Scenario

Voyage data recorder (VDR) is a record-keeping device, invented specifically to be installed in a watercraft. It gathers information from different sensors on board, and stores it in an externally mounted protective storage unit. This recording is recovered, in a compressed and digitized format, and is used for investigation in the event of accidents. Improved safety standards in maritime industry is the primary factor driving the growth of the market. Organizations such as the Safety of Life at Sea (SOLAS), International Maritime Organization (IMO), and several other regional associations, have come up with major mandates to ensure safety of maritime industry. In addition, the demand for unmanned undersea vehicles (UUVs) is continuously increasing for naval intelligence, mine countermeasures (MCM) operations, ISR roles, and anti-submarine warfare missions. It creates an opportunity for the market during the forecast period. However, the high cost of next-generation black boxes, may hamper the growth of the market.

Global voyage data recorder is expected to reach USD 1,798.2 million by 2023, at a CAGR of 2.25% during the forecast period.

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Major Key Players
• Danelec Marine A/S (Denmark),
• INTERSCHALT maritime systems GmbH (Germany),
• Furuno Electric Co., Ltd. (Japan),
• Japan Radio Co. Ltd. (Japan),
• Northrop Grumman Sperry Marine B.V. (UK),
• Netwave Systems B.V. (The Netherlands),
• Digital Control Systems International Ltd. (Greece),
• Beijing Highlander Digital Technology Co. Ltd. (China),
• Consilium AB (Sweden),
• Totem Plus Ltd. (Israel).

Global Voyage Data Recorder market

North America is dominating market for the voyage data recorders with a share of 40.4% of the global market in 2016. North America leads the global market in terms of expenditure and technological advancements, and thus generates very high demand for the VDRs. Although, Canada makes some investments in the development of such systems, the market is primarily dominated by the U.S. In addition, U.S. has an advanced maritime industry and infrastructure, which signify its potential in the market. Furthermore, the increased expenditures on naval ships by both the countries (US and Canada), would add impetus to the market. Therefore, it is expected that the market for VDR in North America would grow at a CAGR of 2.00%, during the forecast period. Europe is the second largest region in the voyage data recorder market. Some major European countries such as the UK, France, Germany, and Russia, with vast coast lines, are home to a number of marine industries and organizations, apart from their large naval forces.

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Intended Audience

Naval authorities
VDR manufacturers
Government as well as Independent Regulatory Authorities

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