Global Voyage Data Recorders (VDR) Market Size, Status and Forecast 2019-2025

Voyage data recorder, or VDR, is a data recording system designed for all vessels required to comply with the IMO's International Convention SOLAS Requirements (IMO Res A861(20)) in order to collect data from various sensors on board the vessel. It then digitizes, compresses and stores this information in an externally mounted protective storage unit. The protective storage unit is a tamper-proof unit designed to withstand the extreme shock, impact, pressure and heat, which could be associated with a marine incident (fire, explosion, collision, sinking, etc.).
Passenger ships and ships other than passenger ships of 3000 gross tonnage and upwards constructed on or after 1 July 2002 must carry voyage data recorders (VDRs) to assist in accident investigations, under regulations adopted in 2000, which entered into force on 1 July 2002. The mandatory regulations are contained in chapter V on Safety of Navigation of the International Convention for the Safety of Life at Sea, 1974. Like the black boxes carried on aircraft, VDRs enable accident investigators to review procedures and instructions in the moments before an incident and help to identify the cause of any accident.

The market for Voyage Data Recorders (VDR) is not fragmented with players such as Japan Radio Co, Furuno, Interschalt, Maritime Systems, Consilium, L-3 Communications, Wärtsilä SAM Electronics, Kongsberg Maritime, Beijing Highlander, Raytheon Anschutz, Danelec Marine, Kelvin Hughes, Maretron, etc.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.

All manufactures in the world are committed to the improvement of product. These two years, some of Chinese manufactures can almost catch up with the world's leading technology too. Most technologies are developed by the manufacturers instead of importing from other companies. With the recovery of world shipbuilding industry and the increased proportion of output for high technology and high added - value ships, China will enter into the list of world powerful shipbuilding countries.

Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.

In 2018, the global Voyage Data Recorders (VDR) market size was 1500 million US$ and it is expected to reach 1500 million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.

This report focuses on the global Voyage Data Recorders (VDR) status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Voyage Data Recorders (VDR) development in United States, Europe and China.

The key players covered in this study
Japan Radio Co
Furuno
Interschalt Maritime Systems
Consilium
L-3 Communications
Wärtsilä SAM Electronics
Kongsberg Maritime
Beijing Highlander
Raytheon Anschutz
Danelec Marine
Kelvin Hughes
Maretron

Market analysis by product type
General Voyage Data Recorder
Simplified Voyage Data Recorder

Market analysis by market
Passenger Ship
Cargo Ship
Naval Ship
Others

Market analysis by Region
United States
Europe
China
Japan
Southeast Asia
India
Central & South America

The study objectives of this report are:
To analyze global Voyage Data Recorders (VDR) status, future forecast, growth opportunity, key market and key players.
To present the Voyage Data Recorders (VDR) development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Voyage Data Recorders (VDR) are as follows:
History Year: 2018-2019
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.