A drilling tool changer apparatus for a drilling rig includes a drill tower pivotable between a drilling orientation and a change-out orientation, the drill tower supporting a drill string comprising a drill pipe coupled to a drilling tool. The drilling tool changer apparatus also includes a drilling tool storage device pivotally movable about a hinge axis between a stowed position and a deployed position. The drilling tool storage device includes a drilling tool storage cassette including a replacement drilling tool. The drilling tool storage device and the drill tower are pivotally alignable in a substantially co-planar manner when the drilling tool storage device is in the deployed position and the drill tower is in the change-out orientation.