South Korea Voyage Data Recorders (VDR) Market Comprehensive Analysis, Growth Forecast from 2021 to 2025

According to a new research report titled Voyage Data Recorders (VDR) Market Global Industry Perspective, Comprehensive Analysis And Forecast by 2021 – 2025

This has brought along several changes in This report also covers the impact of COVID-19 on the global market.

The latest report on the Voyage Data Recorders (VDR) Market 2021 industry takes a closer look at the value chain assessment for the forecast period, 2021 to 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.

Global Voyage Data Recorders (VDR) market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of XX between 2021 and 2025.

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Key Competitors of the Global Voyage Data Recorders (VDR) Market are:
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

The ‘Global Voyage Data Recorders (VDR) Market Research Report’ is a comprehensive and informative study on the current state of the Global Voyage Data Recorders (VDR) Market industry with emphasis on the global industry. The report presents key statistics on the market status of the global Voyage Data Recorders (VDR) market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

Major Product Types covered are:

General Voyage Data Recorder
Simplified Voyage Data Recorder

Major Applications of Voyage Data Recorders (VDR) covered are:

Passenger Ship
Cargo Ship
Naval Ship
Others

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Regional Voyage Data Recorders (VDR) Market (Regional Output, Demand & Forecast by Countries):-
North America (United States, Canada, Mexico)
South America ( Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And More.

The research report studies the past, present, and future performance of the global market. The report further analyzes the present competitive scenario, prevalent business models, and the likely advancements in offerings by significant players in the coming years.

Key Questions answered by the Report

• What will be the growth rate of the Global Voyage Data Recorders (VDR) Market 2021 for the forecast period 2021 to 2025?
• What will be the market size during this estimated period?
• What will be the growth areas within the market space and where should the participant focus to gain maximum ROI?
• Who are the prominent industries players dominating the Global Voyage Data Recorders (VDR) Market and what are their business strategies to stay ahead in the competition against their rivals?
• What are kind of challenges hindering the development of the industry worldwide?
• Competitive landscape of the Global Voyage Data Recorders (VDR) Market
• What are the opportunities business owners can rely upon to earn more profits and stay competitive during the estimated period?
• Potential and niche segments/regions exhibiting promising growth
• A neutral perspective towards Global Voyage Data Recorders (VDR) market performance

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://reportsinsights.com/industry-forecast/Voyage-Data-Recorders--VDR--Market-268605

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