To get more information on Aircraft Health Monitoring Market - Request Free Sample Report
The Aircraft Health Monitoring Market Size was valued at USD 6.5 billion in 2023 and is expected to reach USD 11.36 billion by 2032 with a growing CAGR of 6.4% over the forecast period 2024-2032.
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.
MARKET DYNAMICS
KEY DRIVERS
Rising engine condition monitoring system use
Fuel efficiency
RESTRAINTS
Lack of Uniform data
database management system requirement
OPPORTUNITIES
Improve Cloud storage
High speed internet connectivity
CHALLENGES
High cost
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.
By Solution
Hardware
Software
Services
By End User
Oems
Mro
Airlines
By Aircraft Type
Fixed Wing Aircraft
Helicopter
By Platform
Commercial
Business & General
Military Aviation
By Installation
On board
On Ground
By Fit
Line-fit
Retrofit
REGIONAL ANALYSIS
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.
Need any customization research on Aircraft Health Monitoring Market - Enquiry Now
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The 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
The Major Players are Honeywell International Inc, Airbus, FLYHT Aerospace Solutions Ltd., General Electric, Meggitt PLC, RSL Electronics Ltd, Raytheon Technologies Corporation, The Boeing Company, Rolls-Royce PLC, Teledyne Controls LLC, and Other Players
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 6.5 Billion |
Market Size by 2032 | US$ 11.36 Billion |
CAGR | CAGR of 6.4% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
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 |
The market size of the Aircraft Health Monitoring Market is expected to reach USD 11.36 billion by 2032.
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, and Teledyne Controls LLC are leading players in the Aircraft Health Monitoring Market.
The growth rate of the Aircraft Health Monitoring Market is 6.4% during the forecast period.
Aircraft Health Monitoring Market is segmented into 6 categories: By Aircraft Type, By Solution, By Installation, By Fit, By Platform, and By End-user.
Asia Pacific region is expected to grow with highest CAGR during the forecast period.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Aircraft Health Monitoring Market Segmentation, By Solution
8.1 Hardware
8.2 Software
8.3 Services
9. Aircraft Health Monitoring Market Segmentation, By End User
9.1 Oems
9.2 Mro
9.3 Airlines
10. Aircraft Health Monitoring Market Segmentation, By Aircraft Type
10.1 Fixed Wing Aircraft
10.2 Helicopter
11. Aircraft Health Monitoring Market Segmentation, By Platform
11.1 Commercial
11.2 Business & General
11.3 Military Aviation
12. Aircraft Health Monitoring Market Segmentation, By Installation
12.1 On board
12.2 On Ground
13. Aircraft Health Monitoring Market Segmentation, By Fit
13.1 Line-fit
13.2 Retrofit
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 France
14.3.4 Italy
14.3.5 Spain
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4 Asia-Pacific
14.4.1 Japan
14.4.2 South Korea
14.4.3 China
14.4.4 India
14.4.5 Australia
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.1 Israel
14.5.2 UAE
14.5.3 South Africa
14.5.4 Rest
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Rest of Latin America
15. Company Profiles
15.1 Honeywell International Inc
15.1.1 Financial
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS view
15.2 Airbus
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
17. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Air and Missile Defense Radar (AMDR) Market was valued at USD 7.67 billion in 2023 and is projected to grow to USD 13.4 billion by 2032, achieving a CAGR of 6.34 % over the forecast period from 2024 to 2032.
The Attitude and Heading Reference Systems Market Size was valued at US$ 760.5 million in 2023, with an emerging CAGR of 5.08% by 2024-2032
The Aviation Engine MRO Market Size was valued at USD 33.5 billion in 2023 and is expected to grow to USD 53.3 billion by 2032, achieving a compound annual growth rate (CAGR) of 5.32% over the forecast period of 2024 to 2032.
The Aircraft Exhaust System Market size was USD 1029 Million in 2023 & is will reach USD 2028 Million by 2032 and with CAGR by 7.82% by 2024 to 2032
The Aircraft Lighting Market size was valued at USD 2.64 billion in 2023 and is expected to reach USD 6.00 billion by 2032 and grow at a CAGR of 9.56% over the forecast period 2024-2032.
The Military Drone Market Size was valued at USD 12.94 billion in 2023 and is expected to reach USD 22.72 billion by 2031 and grow at a CAGR of 7.2% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone