The aircraft health monitoring market is estimated to be USD 3.3 billion in 2020 and is projected to reach USD 5.5 billion by 2025, at a CAGR of 10.8% during the forecast period. Some of the factors fueling the market’s growth include increasing use of engine condition monitoring (ECM) by airlines and real-time information for enhanced health management of aircraft. The increasing demand to lower the operational and rising inclination toward aircraft upgradation and replacement are some of the lucrative opportunities for aircraft health monitoring system providers during the forecast period.
The COVID-19 has taken a colossal toll on the world’s economic activity with individuals, organizations, governments, and businesses having to adapt to the challenges of the crisis.Air travel restrictions across various regions for both domestic and international flights have led to inactive fleets across the globe.
Like many other sectors, the aircraft health monitoring market is also heavily impacted by the COVID-19 pandemic. Various stakeholders such as component providers, system manufacturers, government agencies, suppliers, distributors, aircraft & engine manufacturers, and MRO companies are impacted significantly due to the slowdown of transportation, border closures, and increase in the number of inactive fleets.
Based on end user, the MRO segment accounts for the largest market size during the forecast period The aircraft health monitoring market has been segmented into MRO, OEMs and Airlines are considered in the aircraft health monitoring market.The MRO is estimated to be account for the largest share in the aircraft health monitoring market.
Increase in aircraft modernization programs is one of the most significant factors driving the MRO segment in the aircraft health monitoring market.
Based on the platform, the commercial aviation segment is projected to grow at the highest CAGR during the forecast period The aircraft health monitoring market has been segmented into commercial aviation, business and general aviation and military aviation.Commercial aviation will register the fastest growth in the aircraft health monitoring market owing to the high demand for health monitoring systems, solutions, and services.
Airlines in the commercial sector are focused on implementing these solutions to reduce the operating costs of their air fleets, which will support the market growth over the projected timeframe.
Based on solution, the hardware segment accounts for the largest market size during the forecast period The aircraft health monitoring market is segmented into hardware, software and services. the aircraft health monitoring market is estimated to be dominated by the hardware segment with a market share of highest market share in 2020. This growth can be attributed to increasing use of sensors in engines to analyze real-time condition data for preemptive detection of failures will drive aircraft health monitoring demand over the projected period.
Asia Pacific is projected to grow at the highest CAGR during the forecast period. Asia Pacific is projected to be the fastest-growing region in the aircraft health monitoring market during the forecast period, backed by significant development in air transport, The region is a diverse mix of countries and aviation requirements; it is projected that by 2038, it will witness the highest number of aircraft deliveries than any other region.The increase in aircraft deliveries will eventually lead to the growth of the aircraft health monitoring market.
The increasing demand for aircraft models such as the A380, A350 XWB, B787 Dreamliner, B777, and other AHMS integrated aircraft models will support market demand in the region.Airbus and Boeing provide their own health monitoring systems, AiRTHM (Airbus Real-Time Health Monitoring) and AHM (Airplane Health Management), respectively.
This, in turn, is expected to drive the aircraft health monitoring market in the Asia Pacific region.
The break-up of profile of primary participants in the aircraft health monitoring market: • By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14% • By Designation: C Level – 55%, Director Level – 27%, and Others – 18% • By Region: North America – 27%, Europe – 55%, Asia Pacific – 9%, RoW – 9%
Major players operating in the aircraft health monitoring market Safran S.A.(France), Airbus S.A.S (Netherlands), Raytheon Technologies Corporation (US), Honeywell international Inc (US), Teledyne Technologies Inc (US), among others.
Research Coverage: This research report categorizes the aircraft health monitoring market basis of platform (Commercial Aviation, Business & General Aviation, Military Aviation), end user (Airlines, OEMs, MRO), installation (On Board, On Ground), fit (Line Fit, Retrofit), solution (Hardware, Software, Services), operation mode (Real time, non-real-time), System (Engine Health Monitoring, Structural Health Monitoring, Component Monitoring) in these segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America and Africa.The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft health monitoring market.
A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the aircraft health monitoring market. Competitive analysis of upcoming startups in the aircraft health monitoring market ecosystem is covered in this report.
Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft health monitoring market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on aircraft health monitoring system offered by the top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aircraft health monitoring market • Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft health monitoring market across varied regions • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft health monitoring market • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the aircraft health monitoring market
Our reports have been used by over 10K customers, including:
Increasing demand for effective heating and cooling in commercial aircrafts is driving the aircraft heat exchanger market. The aircraft heat exchanger market is expected to grow from an estimated USD 1.3 billion in 2021 to USD 2.0 billion by 2026, at a CAGR of 9.2% during the forecast period of 2021-2026. Some of the factors fueling the...
The global aircraft pumps market size is projected to grow from USD 3.3 billion in 2021 to USD 4.5 billion by 2026, at a CAGR of 6.3% from 2021 to 2026. The market is driven by various factors, such as increase in aircraft renewals and need for more flexible and light aircraft with improved, lightweight systems and compact pumping systems. The...
The global airborne optronics market size is projected to grow from USD 1.4 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 12.7% from 2020 to 2025. The market is driven by various factors, such as growing fleet of commercial and combat aircraft and increased deployment of electro-optics in unmanned vehicles. The airborne optronics...
The hydrogen aircraft market is estimated to be USD 143 billion in 2020 and is projected to grow from USD 1,411 million in 2025 to USD 7,427 million by 2030, at a CAGR of 28.9% from 2025 to 2030. The aviation industry contributes significantly towards carbon emissions with approximately 2.5% of the global CO2 emissions. Since the massive reduction...
The aircraft wire & cable market in APAC is expected to grow from US$ 141.82 million in 2020 to US$ 265.44 million by 2028; it is estimated to grow at a CAGR of 9.1% from 2021 to 2028. At present, the aircraft wires and cables manufacturers can explore potential business opportunities through conducting extensive research & development (R&D)...
The global aircraft transparencies market size is projected to grow from USD 1.0 billion in 2020 to USD 1.5 billion by 2025, at a CAGR of 7.7% from 2020 to 2025. The market is driven by various factors, such as increase in number of aircraft deliveries and adoption of aircraft transparencies to increase aircraft performance, efficiency and...
In terms of revenue, the global aircraft wire & cable market was valued at US$ 716.63 million in 2020 and is projected to reach US$ 1,153.64 million by 2028; it is expected to grow at a CAGR of 6.8% from 2021 to 2028. The global aviation industry is growing at an unprecedented rate, recording substantial number of production volumes...
The market for the business jet was valued at USD 15.25 billion in 2020 and is anticipated to register a CAGR of 2.50% during the forecast period (2021-2026), to reach a market value of USD 17.86 billion by 2026. The COVID-19 pandemic affected the business jet market in the short term as the orders and deliveries witnessed a decline...
The global aircraft seat actuation system market size is projected to grow from USD 496 million in 2020 to USD 763 million by 2025, at a CAGR of 9.0% from 2020 to 2025. The market is driven by various factors, such as increase in demand for premium economy seats and maintenance & retrofitting of existing aircraft. The aircraft seat...
The commercial aircraft landing gear market is valued at USD 14.72 billion in 2020 and is anticipated to register a CAGR of 4.18% during the forecast period to reach USD 20.13 billion by 2026. Over the years, there is an increase in aircraft orders from various airlines around the world. This is primarily due to an increase in the number...
Air Passenger Traffic
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.