The global aircraft health monitoring systems market is anticipated to grow at a significant CAGR of nearly 5.5% during the forecast period. The major factor that drives the growth of the market include the implementation of aircraft health monitoring systems that assist in minimizing the overall maintenance, operational costs, detection &diagnosis, prognosis and mitigation of system failures. For instance, in January 2020, Safran S.A. announced the launch of a new service for aircraft health monitoring, enabling customers to track the health indicator of the aircraft engine. The service also features daily health indicators, monthly recommendations, full automation of engine performance with trend follow-up, and a new user-friendly online interface. Also, significant growth in the commercial and defense aviation industries is one of the key factors creating a positive outlook for the market.
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Moreover, growing need for enhanced situational awareness and increasing instances of aircraft accidents are also creating a positive impact on the demand for this solution. In addition to this, there is increasing adoption of connected aircraft solutions to meet the growing requirement for automation and the development of cost-effective maintenance alternatives. For instance, in December 2020, Intelsat announced the acquisition of Gogo Commercial Aviation (Intelsat Inflight LLC), worth $400 million. This deal is expected to support Intelsat to enhance its product portfolio in aircraft health monitoring and in-flight connectivity solutions and increase its market share. Moreover, lack of standardization of data and high maintenance and operational cost of health monitoring systems may slower their adoption. Furthermore, constant R&D in the development of new health monitoring systems coupled with advanced technology and sensors is projected to bring new growth opportunities during the forecast period.
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Global Aircraft Health Monitoring System Market Segmentation
By End-User
- OEMs
- Airlines
By Platform
- Commercial Aviation
- Business & General Aviation
- Military Aviation
By Installation
- On board
- On Ground
By Solution
- Hardware
- Software
- Services
By Operation Mode
- Real time
- Non-real-time
By Fit
- Line fit
- Retro fit
By System
- Engine health monitoring
- Structural health monitoring
- Component monitoring
- MRO
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Airbus SE
- The Boeing Co
- GE Aviation
- Collins Aerospace (United Technologies Corporation)
- Honeywell International Inc.
- Meggitt PLC
- Rolls-Royce
- FLYHT Aerospace Solutions Ltd
- Curtiss-Wright Corporation
- Safran S.A
- Esterline Technologies Corp.
- Ultra-Electronics Group
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