Report Id: SNS/A&D/1644 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Aircraft Health Monitoring Market Size was valued at USD 4.32 billion in 2021 and US$ 4.80 billion in 2022, expected to reach USD 8.98 billion by 2028, and grow at a CAGR of 11% over the forecast period 2022-2028.
Because of its critical role in increasing overall aviation safety, the worldwide aircraft health monitoring market has grown steadily over the years. The aircraft health monitoring system integrates a wide range of software and hardware tools, procedures, approaches, and solutions for monitoring aeroplane data in order to understand aircraft performance and serviceability. This technology makes use of large amounts of aviation data to provide improved analytical output while also ensuring the safety of various planes. AHMS implementation aids in the reduction of operating and maintenance costs.
The market is being driven by an increased desire to improve aircraft safety, performance, and operational efficiency, as well as an increase in demand for real-time aircraft data monitoring systems. Another key factor supporting the growth of the aviation health monitoring systems market is the increased adoption of connected aircraft solutions.
The need to cut MRO costs is another reason influencing the adoption of advanced aircraft health monitoring systems. Continuous monitoring of aircraft systems prevents the need for quick parts and component replacements. The aviation health monitoring system market is expanding due to increased need for real-time problem management, custom alerting and analysis solutions, and performance monitoring. Furthermore, growing aerospace IT investment in developing countries, as well as technical developments for workflow optimization, drive demand for advanced analytical systems, propelling market growth.
Rising engine condition monitoring system use
Lack of Uniform data
database management system requirement
Improve Cloud storage
High speed internet connectivity
THE IMPACT OF COVID-19
The COVID-19 influence on the aircraft health monitoring system industry is unknown, although it is expected to last for a few years. The COVID-19 outbreak compelled governments around the world to impose strict lockdowns and ban import–export activities for the majority of 2020 and a few months in 2021. This resulted in a sharp drop in demand for air travel, and thousands of flights were grounded around the world. Furthermore, nationwide lockdowns led aircraft health monitoring system manufacturing sites to shut down partially or fully. The COVID-19 pandemic has caused global delays in actions and initiatives aimed at developing enhanced aviation health monitoring systems.
The aircraft health monitoring market has been classified based on end user. MRO, OEMs, and airlines are all considered in the aircraft health monitoring industry. According to estimates, the aircraft health monitoring market is dominated by MRO. One of the most important factors driving the MRO segment in the aircraft health monitoring market is the increase in aircraft modernization programmers.
The aircraft health monitoring market has been divided into three segments based on the platform: commercial aviation, business and general aviation, and military aviation. Because of the strong need for health monitoring systems, solutions, and services, commercial aviation will have the highest growth in the aircraft health monitoring market. Commercial airlines are focusing on deploying these solutions to lower the operational expenses of their air fleets, which will drive market growth throughout the forecast timeframe. The aviation health monitoring market is divided into three segments based on solution: hardware, software, and services. The hardware sector is expected to lead the aviation health monitoring market in 2022, with the highest market share. The increased use of sensors in engines to assess real-time condition data for preemptive failure detection will drive aviation health monitoring demand over the forecast period.
MARKET KEY PLAYER
Key players in this aircraft health monitoring system market Honeywell International Inc, Airbus, FLYHT Aerospace Solutions Ltd., General Electric, Meggitt PLC, RSL Electronics Ltd, Raytheon Technologies Corporation, and The Boeing Company, Rolls-Royce PLC, Teledyne Controls LLC, and other players.
KEY MARKET SEGMENTATION:
by End User:
by Aircraft Type:
Fixed Wing Aircraft
Business & General
During the forecast period, Asia Pacific is expected to be the fastest-growing region in the aircraft health monitoring market, owing to significant increase in air transport. The region contains a diverse mix of countries and aviation needs; by 2038, it is expected to have the largest number of aircraft deliveries of any region. The increased delivery of aircraft will eventually contribute to the expansion of the aviation health monitoring business. The growing demand for aircraft models such as the A380, A350 XWB, B787 Dreamliner, B777, and other AHMS integrated aircraft types will sustain regional market demand. Airbus Real-Time Health Monitoring and Airplane Health Management are the health monitoring systems provided by Airbus and Boeing, respectively. This, in turn, leads to drive the aircraft health monitoring market in APAC region
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 4.32 Billion|
|Market Size by 2028||US$ 8.98 Billion|
|CAGR||CAGR of 11% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By End User (Oems, Mro, Airlines)
• By Solution (Hardware, Software, Services)
• By Installation (Onboard, On Ground)
• By Fit (Line-fit, Retrofit)
• By Aircraft Type (Fixed Wing Aircraft, Helicopter)
• By Platform (Commercial, Business & General, Military Aviation)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Honeywell International Inc, Airbus, FLYHT Aerospace Solutions Ltd., General Electric, Meggitt PLC, RSL Electronics Ltd, Raytheon Technologies Corporation, and The Boeing Company, Rolls-Royce PLC, Teledyne Controls LLC, and other players.|
|DRIVERS||• Rising engine condition monitoring system use
• Fuel efficiency
|RESTRAINTS||• Lack of Uniform data
• database management system requirement
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Aircraft Health Monitoring Market, by Solution
9. Aircraft Health Monitoring Market, by End User
10. Aircraft Health Monitoring Market, by Aircraft Type
10.1 Fixed Wing Aircraft
11. Aircraft Health Monitoring Market, by Platform
11.2 Business & General
11.3 Military Aviation
12. Aircraft Health Monitoring Market, by Installation
12.1 On board
12.2 On Ground
13. Aircraft Health Monitoring Market, by Fit
14. Regional Analysis
14.2 North America
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4.2 South Korea
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.3 South Africa
14.6 Latin America
14.6.3 Rest of Latin America
15. Company Profiles
15.1 Honeywell International Inc
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS view
15.3 FLYHT Aerospace Solutions Ltd.
15.4 General Electric
15.5 Meggitt PLC
15.6 RSL Electronics Ltd
15.7 Raytheon Technologies Corporation
15.8 The Boeing Company
15.9 Rolls-Royce PLC
15.10 Teledyne Controls LLC.
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share analysis
16.3 Recent Developments
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