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Aircraft Health Monitoring System Market Report
Aircraft Health Monitoring System (AHMS) Market Size, Share, Trend, Forecast, & Competitive Analysis: 2022-2028
The aircraft health monitoring system market (AHMS) is estimated to grow from USD 3.87 billion in 2022 to USD 7.01 billion by 2028 at a CAGR of 10.26% during the forecast period.
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Health monitoring systems are gaining momentum in the aircraft industry as all the major aircraft OEMs are increasingly incorporating these systems into their best-selling aircraft in order to enhance flight safety as well as to reduce MRO costs.
Several factors are bolstering the demand for health monitoring systems in the aircraft industry. Some of these are-
The inception of a structural health monitoring system, a paradigm shift from non-destructive testing, has paved the path for enhanced aircraft health monitoring systems.
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Based on the aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, business jet, helicopter, and military aircraft. Narrow- and wide-body aircraft dominate the market and are estimated to remain the leading aircraft segments over the next five years as well. Increasing production rates of B737 and A320 including their fuel-efficient variants (A320neo and B737 max) coupled with the market entry of new players (COMAC and Irkut) are the major factors driving the overall narrow-body aircraft segment and so are the health monitoring systems for them. Similar to narrow-body aircraft, increasing production rates of B787 and A350XWB coupled with the introduction of fuel-efficient variants including B777x and A330neo are the major factors driving the demand for health monitoring systems in the wide-body aircraft segment.
Based on the installation type, the AHMS market is segmented as onboard and on-the-ground. It is estimated that the onboard segment is likely to depict a higher growth during the forecast period, propelled by the installation of different health monitoring system components, such as sensors, communication systems, and flight data management systems, with an aim to provide an increased passenger safety and reduce MRO cost.
In terms of regions, North America is expected to remain the largest market for aircraft health monitoring systems in the coming five years, whereas Asia-Pacific is likely to witness the highest growth during the same period. The USA is the growth engine of the North American market. Similarly, China, Japan, and India are the key sources of growth in the Asia-Pacific’s aircraft health monitoring system market. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region. This, in turn, will create a healthy demand for aircraft health monitoring systems in Asia-Pacific during the forecast period.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2013-2024 |
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Forecast |
10.26% CAGR During 2022-2028 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries/Subregions Covered |
The USA, Canada, Mexico, France, Germany, the UK, Spain, Russia, China, Japan, India, Latin America, the Middle East and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The market is segmented in the following ways:
Some of the major players in the AHMS market are
These major players are likely to remain the most dominant ones over the next five years as well. Several efforts are being made by these players to remain competitive and to quickly gain more shares in the market. Some of which are a regional expansion, execution of mergers & acquisitions and joint ventures, and advancement in technologies.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report, from Stratview Research, studies the aircraft health monitoring system market over the trend period from 2015 to 2021 and the forecast period from 2022 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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Driven by a number of factors like rising demand for advanced aircraft monitoring systems & increasing production rates of key aircraft programs, the aircraft health monitoring system market is expected to witness an impressive growth of 7.3% CAGR During 2019-24.
Airbus S.A.S., The Boeing Company, United Technologies Corporation, Honeywell International Inc., General Electric Company, Rockwell Collins, Inc., Meggitt PLC, Rolls-Royce Holdings PLC, Safran S.A., Air France Industries KLM Engineering & Maintenance, and Lufthansa Technik AG. are among the key players in the aircraft health monitoring system market.
North America is expected to remain the largest market for aircraft health monitoring systems during the forecast period of 2022-28.
Narrow- and wide-body aircraft are estimated to remain the leading aircraft segments over the next five years
Onboard segment is expected to depict the higher growth in the aircraft health monitoring system market during the next five years.
Asia-pacific is expected to witness the highest growth in the aircraft health monitoring system market in the coming years.
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