Aircraft Health Monitoring System Global Market Report 2024

The aircraft health monitoring system market size has grown strongly in recent years. It will grow from $4.69 billion in 2023 to $5.11 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed during the historical period can be attributed to several factors, including the implementation of stringent safety and maintenance regulations, pressures to reduce costs, the aging aircraft fleet, an increased emphasis on preventive maintenance practices, and a concerted focus on enhancing airline operational efficiency. These elements collectively contributed to the growth witnessed within that timeframe in the realm of aircraft health monitoring systems.

The aircraft health monitoring system market size is expected to see strong growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be primarily attributed to the escalation of air traffic and fleet expansion, increased integration with fleet management systems, a heightened emphasis on aircraft connectivity, the emergence and utilization of predictive analytics in aviation, as well as regulatory backing and standardization efforts. Key trends expected in the forecast period encompass advancements in sensor technologies tailored for aircraft health monitoring systems (AHMS), increased integration with flight operations data, the development of portable and wearable AHMS devices, expanded applications in Unmanned Aerial Vehicles (UAVs) and Urban Air Mobility (UAM), and a global collaborative effort aimed at standardizing AHMS practices and protocols. These trends collectively contribute to the projected growth within this period in the domain of aircraft health monitoring systems.

The anticipated increase in aircraft accidents is expected to be a driving force behind the growth of the aircraft health monitoring system (AHMS) market in the foreseeable future. Aircraft accidents, defined as incidents causing harm or damage to the aircraft, individuals, property, or items, underscore the critical need for effective monitoring systems. AHMS plays a pivotal role by identifying defects and abnormalities in vital systems in real-time, enabling proactive maintenance and preventing in-flight breakdowns that may lead to accidents. According to the International Air Transport Association (IATA), a Canada-based association for inter-airline cooperation, the year 2022 witnessed approximately 39 flight accidents, marking an increase from 29 in 2021. The average of 43 accidents between 2018 and 2022 further highlights the urgency of implementing robust AHMS solutions. Consequently, the rising incidence of aircraft accidents stands as a key driver propelling the aircraft health monitoring system market.

The burgeoning commercial aviation sector is poised to drive the growth of the aircraft health monitoring system market in the coming years. The commercial aviation sector, a segment of civil aviation involving aircraft operation for remuneration or hire, relies heavily on AHMS to enhance safety, reliability, efficiency, and overall aircraft performance. AHMS tools are instrumental in supporting the growth of the commercial aviation industry. According to the International Civil Aviation Organization, a US-based specialized agency, the aviation industry anticipates an average annual rise in demand for air travel of 4.3% over the next 20 years. By 2036, the sector is projected to generate $1.5 trillion in GDP and create 15.5 million direct jobs globally if its current growth trajectory is maintained. This robust growth in the commercial aviation sector underscores the essential role of AHMS in ensuring the safety and efficiency of aircraft operations. Therefore, the expanding commercial aviation sector emerges as a significant driver propelling the aircraft health monitoring system market.

Technological advancements stand out as a prominent and widely adopted trend in the aircraft health monitoring system (AHMS) market, with major companies actively introducing innovative products to maintain their competitive positions. A notable example is Pratt & Whitney, a US-based aerospace manufacturer, which, in June 2023, unveiled Percept, an artificial intelligence-based aircraft engine analysis system. This computer vision application operates on the Awiros Video Intelligence Operating System (OS), featuring a cloud-based interface that allows customers to capture photographs and videos of aircraft engines using mobile devices. The system provides real-time part availability responses, facilitating faster and more cost-effective turnover of leased engine assets. By automating the examination process, Percept significantly reduces the time required for inspection by approximately 90%, eliminating the need for inspectors to verify details individually.

Major players in the aircraft health monitoring system market are strategically embracing a partnership approach to sustain their market positions. Strategic partnerships play a crucial role in driving AHMS market success, fostering collaboration, accelerating innovation, and expanding market reach within the dynamic aviation industry. A noteworthy collaboration occurred in December 2023, when SIPAL S.P.A, an Italy-based engineering services company, joined forces with ODYSIGHT.AI, a US-based visualization and AI platform. Together, they aimed to create an advanced visual-based health monitoring system, leveraging Odysight's video-based sensors and AI algorithms along with SIPAL's Head Mounted Display technology. This collaboration seeks to redefine Prognostic Health Management, enabling real-time visual inspections of aircraft internal systems without panel removal. The goal is to enhance maintenance accuracy, reduce downtime, and improve safety for aerospace operations through innovative visual-based monitoring solutions.

In November 2021, Collins Aerospace, a prominent US-based provider of advanced technology solutions for aerospace and defense industries, successfully acquired FlightAware. The financial details of the acquisition were not disclosed. This strategic move by Collins Aerospace is aimed at bolstering its capabilities in data networks and connectivity solutions, enabling the company to offer more sophisticated digital solutions. FlightAware, a digital aviation company based in the US, specializes in providing flight-tracking solutions, predictive technology, analytics, and decision-making tools.

Major companies operating in the aircraft health monitoring system market report are General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Airbus SE, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., Safran Group, Rolls-Royce Holdings PLC, Textron Aviation Inc., Amphenol Corporation, Bombardier Inc., Lufthansa Technik AG, AMETEK Inc., Collins Aerospace (United Technologies Corporation), Teledyne Technologies Inc., Embraer S.A., Air France Industries KLM Engineering & Maintenance Group, Curtiss-Wright Corporation, Zodiac Aerospace, Meggitt PLC, SITA N.V., Ultra Electronics Holdings PLC, eInfochips, Intelsat S.A., GE Engine Services LLC, FLYHT Aerospace Solutions Ltd, Avionica Inc., RSL Electronics Ltd, Acellent Technologies Inc., Goodrich Corporation, Ventura Aerospace Inc.

Asia-Pacific was the largest region in the aircraft monitoring system market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft health monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aircraft health monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Key components within aircraft health monitoring systems consist of engine health monitoring, structural health monitoring, and component health monitoring. Engine health monitoring involves the transmission of data from an aircraft's engine to a ground-based operational unit, enabling the recording and tracking of the engine's performance. The subsystems involved cover aero-propulsion, avionics, ancillary systems, as well as aircraft structures installed both on board and on the ground. These systems incorporate various technologies such as prognostics systems, diagnostics systems, detection systems, adaptive control, among others. They serve diverse end-users, including both commercial and military entities, providing crucial insights into the condition and performance of critical aircraft systems.

The aircraft health monitoring systems market research report is one of a series of new reports that provides aircraft health monitoring systems market statistics, including aircraft health monitoring systems industry global market size, regional shares, competitors with a aircraft health monitoring systems market share, detailed aircraft health monitoring systems market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft health monitoring systems industry. This aircraft health monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aircraft health monitoring system market consists of revenues earned by entities by providing aircraft safety solutions and services such as monitoring of gas turbine engines, analysis of airframe structure, gearbox, and bearing, monitoring of an auxiliary power unit, diagnostic features, and engine parameter tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The aircraft health monitoring system market also includes sales of sensors, data processing units, and data storage systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.