Voyage Data Recorder (VDR) Market Strategic Insights of Developing Industry by Top Growing Prominent Players, Technology Trend

Market Research Future Insights

Voyage Data Recorder (VDR) Market Size is expected to reach USD 18.74 billion by 2030, registering a CAGR of 3% during 2020-2030.

A voyage data recorder (VDR) is a device that is used to record and store data related to the operation of a vessel. VDRs are often referred to as “black boxes” because they are similar in function to the flight data recorders that are used in airplanes. VDRs are required on many types of vessels, including ships and offshore platforms, to help improve safety and facilitate investigations in the event of an accident or incident.

The COVID-19 pandemic has had some impact on the production and sales of voyage data recorders (VDRs). The demand for VDRs has remained relatively stable during the pandemic, as they are used in a variety of applications where safety is critical. Overall, the COVID-19 pandemic has had a limited impact on the production and sales of voyage data recorders (VDRs).

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Key Players

Some of the key market players are Japan radio, Danalec marine A/S, Furuno electric, INTERSCHALT maritime systems, HR Smith Group, Honeywell International, and Teledyne Technologies.

Market Segmentation

The Global Voyage Data Recorder (VDR) market has been segmented into type and application.

Based on the type, the market has been segmented into needle General Voyage Data Recorder and Simplified Voyage Data Recorder.

Based on the application, the market has been segmented into Cargo Ships, Naval ships, and Passenger ships.

Regional Analysis

North America is a powerful VDR market due to technological advancement and profitability. Heavy capital investments are crucial reasons for higher market growth. Europe has plenty of market growth opportunities due to product variation. Also, there are impressive growth opportunities that increase the overall profitability of the market. However, there is increased competition in Europe due to the entry of new market players. The performance of all these regions looks positive during the forecast period.

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