Aircraft Health Monitoring Market Forecasts to 2028 – Global Analysis By Technology (Adaptive Control, Diagnostics), End User (Original Equipment Manufacturers (OEMs), Maintenance, Repair, Operating Supply) and By Geography
According to Stratistics MRC, the Global Aircraft Health Monitoring Market is accounted for $3.36 billion in 2020 and is expected to reach $8.81 billion by 2028 growing at a CAGR of 12.8% during the forecast period. Increasing use of engine condition monitoring (ECM) by airlines, real-time information for enhanced health management of aircraft and reduced maintenance costs with predictive monitoring and management of aircraft are driving the market growth. However, lack of uniform data standards and susceptibility to harsh working conditions is hampering the growth of the market.
Aircraft health monitoring systems are used to identify problems in the aircraft status and provide alternatives to fix the problems. Aircraft health monitoring systems are utilized as prognosis, diagnosis, detection and mitigation assistance devices. These systems are mainly used to reduce the operational and maintenance costs and improve flight safety.
Based on the platform, the commercial aviation segment is going to have lucrative growth during the forecast period 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 period of time. By geography, Asia Pacific is going to have high growth during the forecast period due to increase in aircraft deliveries in the region.
Some of the key players profiled in the Aircraft Health Monitoring Market include Airbus Group, BAE Systems, Boeing International, Bombardier Inc., Embraer S.A, General Electric, Gulfstream Technology, Honeywell Inc., Meggitt PLC, Rockwell Collins, Rolls Royce Holdings, RSL Electronics Inc, Safran (Sagem), Ultra Electronics Holdings and United Technologies Corporation.
Estimated Market Size in 2020:
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
Tables, Graphs & Figures
Platform, Installation, Fit, Solution, Operation Mode, System, Technology, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Business & General
• Military Aviation
• On Ground
Operation Modes Covered:
• Real Time
• Non-Real-Time/ Post Flight
• Component Monitoring
• Engine Health Monitoring
• Structural Health Monitoring
• Adaptive Control
End Users Covered:
• Original Equipment Manufacturers (OEMs)
• Maintenance, Repair, and Operating Supply (MRO)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Aircraft Health Monitoring Market is majorly driven by increasing use of engine condition monitoring (ECM) by airlines, real-time information for enhanced health management of aircraft and reduced maintenance costs with predictive monitoring and management of aircraft.
The commercial segment is growing at a highest CAGR owing to high demand for health monitoring systems, solutions, and services.
North America dominated with a significant market share due to the factors such as presence of key market players and countries like USA acting as growth engines.
Asia Pacific market is growing at a highest CAGR owing to significant development in air transport.
Key players in Aircraft Health Monitoring Market include Airbus Group, BAE Systems, Boeing International, Bombardier Inc., Embraer S.A, General Electric, Gulfstream Technology, Honeywell Inc., Meggitt PLC, Rockwell Collins, Rolls Royce Holdings, RSL Electronics Inc, Safran (Sagem), Ultra Electronics Holdings and United Technologies Corporation.
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