Aircraft health monitoring system (AHMS) is a group of activities, which includes data collection and analysis techniques used to ensure availability, reliability, and safety of aircraft. Activities similar to or sometimes used interchangeably with AHMS include, health usage and monitoring system (HUMS), operational data recording (ODR), and conditional-based maintenance (CBM). AHMS offers several benefits to the airlines such as improved safety, improved effectiveness of overall operations, reduction in maintenance costs, reduction in aircraft on ground (AOG) time, and reduction in fuel consumption.
Moreover, aircraft health monitoring systems include decision support systems, such as real-time fault management, performance measurement, and customer alerting & analysis, which help the aviation industry analyze the performance of different components of aircraft in real-time, predict the occurrence of the fault before it affects the aircraft and reduces aviation maintenance costs without compromising on the performance.
Increase in demand for real-time problem management and custom alerting & analysis solutions, and increase in demand for performance monitoring drive the growth of the aircraft health monitoring system market. Furthermore, rise in aerospace IT investment in emerging economies, as well as technical improvements for workflow optimization, increase the demand for advanced analytical systems, thus driving market growth. However, lack of qualified specialists is projected to hamper the market expansion. On the contrary, increase in application areas for aircraft integrated vehicle health management (IVHM) is likely to open up attractive opportunities for the aircraft health monitoring system market.
The aircraft health monitoring system market is segmented on the basis of type, solution, end user, aircraft type and region. By type, the market is categorized into commercial aviation and military aviation. On the basis of solution, the market is divided into hardware, software, and services. On the basis of end user, the market is divided into OEMs, MRO, and airlines. On the basis of aircraft type, it is categorized into fixed wing aircraft and helicopter. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include, Airbus, Honeywell International Inc., FLYHT Aerospace Solutions Ltd., General Electric, Meggitt PLC, Rolls-Royce PLC, RSL Electronics Ltd, Raytheon Technologies Corporation, Teledyne Controls LLC., and The Boeing Company.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the aircraft health monitoring system market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Moreover, aircraft health monitoring systems include decision support systems, such as real-time fault management, performance measurement, and customer alerting & analysis, which help the aviation industry analyze the performance of different components of aircraft in real-time, predict the occurrence of the fault before it affects the aircraft and reduces aviation maintenance costs without compromising on the performance.
Increase in demand for real-time problem management and custom alerting & analysis solutions, and increase in demand for performance monitoring drive the growth of the aircraft health monitoring system market. Furthermore, rise in aerospace IT investment in emerging economies, as well as technical improvements for workflow optimization, increase the demand for advanced analytical systems, thus driving market growth. However, lack of qualified specialists is projected to hamper the market expansion. On the contrary, increase in application areas for aircraft integrated vehicle health management (IVHM) is likely to open up attractive opportunities for the aircraft health monitoring system market.
The aircraft health monitoring system market is segmented on the basis of type, solution, end user, aircraft type and region. By type, the market is categorized into commercial aviation and military aviation. On the basis of solution, the market is divided into hardware, software, and services. On the basis of end user, the market is divided into OEMs, MRO, and airlines. On the basis of aircraft type, it is categorized into fixed wing aircraft and helicopter. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include, Airbus, Honeywell International Inc., FLYHT Aerospace Solutions Ltd., General Electric, Meggitt PLC, Rolls-Royce PLC, RSL Electronics Ltd, Raytheon Technologies Corporation, Teledyne Controls LLC., and The Boeing Company.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the aircraft health monitoring system market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Benefits For Stakeholders
- This study presents analytical depiction of the aircraft health monitoring system market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall aircraft health monitoring system market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the aircraft health monitoring system market with a detailed impact analysis.
- The current aircraft health monitoring system market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Key Market Segments
By Type
- Commercial Aviation
- Military Aviation
By Solution
- Hardware
- Software
- Services
By End User
- Oems
- Mro
- Airlines
By Aircraft Type
- Fixed Wing Aircraft
- Helicopter
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Airbus
- Flyht Aerospace Solutions Ltd.
- General Electric
- Honeywell International Inc.
- Meggitt PLC
- Raytheon Technologies Corporation
- Rolls-Royce PLC
- RSL Electronics Ltd
- Teledyne Controls LLC
- The Boeing Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY TYPE
CHAPTER 5: AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY SOLUTION
CHAPTER 6: AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY END USER
CHAPTER 7: AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY AIRCRAFT TYPE
CHAPTER 8: AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to a recent report, titled, 'Aircraft Health Monitoring System Market by Type, Solution, End User, and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,' the global aircraft health monitoring system market was valued at $3.58 billion in 2020, and is projected to reach 7.27 billion by 2030, registering a CAGR of 7.65%.Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. The U.S. dominated the global aircraft health monitoring system market share in North America in 2020, owing to increase in investment towards R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making reliable, and efficient aircraft health monitoring systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of aircraft health monitoring system across several Asian nations, for instance, China, India, Japan, and South Korea
By type, the aircraft health monitoring system market is segregated into commercial aviation and military aviation. The commercial aviation segment accounted for the highest revenue in 2020, owing to high demand for aircraft health monitoring systems for commercial aviation globally.
On the basis of solution, the market is segmented into hardware, software, and services. The hardware segment garnered the highest revenue in 2020, owing to high demand for sensors to gather data related to various aircraft systems.
On the basis of end user, the market is segmented into OEMs, MRO, and airlines. The MRO segment garnered the highest revenue in 2020, owing to high demand for aircraft health monitoring systems for aircraft maintenance, repair and overhaul (MRO) operations.
Depending on aircraft type, the aircraft health monitoring system market is fragmented into fixed wing aircraft and helicopter. The fixed wing aircraft segment was the highest revenue contributor in 2020, owing to high demand for aircraft health monitoring system, which are installed in fixed wing aircraft.
COVID-19 Impact Analysis
The COVID-19 impact on the aircraft health monitoring system market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import-export activities for most of 2020 & few months in 2021. This led to sudden fall in demand for air travel and thousands of planes were grounded across the globe.
Moreover, nationwide lockdowns forced IFE manufacturing facilities to partially or completely shut operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced aircraft health monitoring systems globally.
Key findings of the Study
- By type, the military aviation segment is expected to register a significant growth during the forecast period.
- On the basis of solution, the services segment is anticipated to exhibit significant growth in future.
- Depending on end user, the MRO segment is anticipated to exhibit significant growth in future.
- By aircraft type, the helicopter segment is expected to register a significant growth during the forecast period.
- Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Companies Mentioned
- Airbus
- Flyht Aerospace Solutions Ltd.
- General Electric
- Honeywell International Inc.
- Meggitt PLC
- Raytheon Technologies Corporation
- Rolls-Royce PLC
- RSL Electronics Ltd
- Teledyne Controls LLC
- The Boeing Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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