Aircraft Health Monitoring Market by Component (Hardware, Software, Service), by Installation (On Board, Ground), by Operation (Real-Time, Post Flight), by Aircraft Type (Commercial, Military), by Region (Asia Pacific, Europe, Middle East and Africa, South America, North America) – Global Forecast 2018 to 2025
Aircraft Health Monitoring Market: Summary
The Global Aircraft Health Monitoring Market is estimated to reach USD 4.3 Billion by 2025 at a CAGR of 7.5%, oberves forencis research (FSR).
Aircraft Health Monitoring is a system based on wireless technology that foresees the failure signs of an aircraft which further prevents any type of mishap by sending signals to the maintenance team. This system uses real-time data collected from numerous sensors mounted on an aircraft which increases the overall safety and security of the aircraft. The main objective of the system is to recognize faults in the system and pinpoint the fault source. The aircraft health monitoring system improves the functionality of the aircraft and also reduces the maintenance cycle by a huge margin.
Aircraft Health Monitoring Market: Drivers & Challenges
- Increasing Aviation Fatalities
The fatalities due to the air crash are experiencing a sharp rise. As per the aviation safety network, airline accidents had jumped 900%, over the years. The crucial aspect to be considered is loss-of-control related accidents. In loss-of-control, the aircraft deviates from the designated flight path towards a non-recoverable path, caused by a mechanical failure of any subsystem in the aircraft, human actions or environmental disturbances. The aircraft health monitoring system helps in reducing mechanical failures of the system by foreseeing them and preventing any fatalities. The airline manufacturers are striving to incorporate such monitoring systems to restrain any type of airline accidents.
Thus, increasing aviation fatalities may contribute to the growth of the aircraft health monitoring market, during the forecasted period.
- Reducing Fuel Consumption and Carbon Dioxide Emission
Globally, emission of carbon dioxide, carbon monoxide, and other such poisonous gases is a major environmental issue. Airline manufacturers are endeavoring for fuel-efficient aircrafts to support environmental initiatives in reducing the carbon footprint. The aircraft health monitoring system observes the performance of the aircraft, collects fuel usage information and calculates resultant carbon dioxide emission. The summary of this data gives airline operators total emission caused by every flight, which helps manufacturers to enhance the environmental performance of an aircraft.
Thus, reducing fuel consumption and carbon dioxide emission is expected to drive the overall growth of the aircraft health monitoring market, during the forecast period.
- High Maintenance Cost
The aircraft health monitoring system is a complex system comprising of numerous sensors, and other hardware components connected with the software platform communicating with the on-ground system. The robustness and reliability of all the installed components becomes crucial. The component network needs to be fail-safe and if any component of the system breaks it may hinder the performance monitoring of the aircraft components. Maintenance of all these components during the lifecycle of the aircraft adds to the additional cost.
Thus, high maintenance costs can be challenging for the growth of the aircraft health monitoring market, during the forecast period.
Aircraft Health Monitoring Market: Key Segments
- Segmentation based on component covers: Hardware, Software, and
- Segmentation based on installation covers: On-Board System, and Ground System.
- Segmentation based on operation covers: Real-Time and Post Flight.
- Segmentation based on aircraft type covers: Commercial, Helicopter, Business Jet and
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Aircraft Health Monitoring Market: Report Scope
The report on the aircraft health monitoring market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2025 (2020 estimated year, forecasted up to 2025)
Value (USD Million)
Component, Installation, Operation, Aircraft Type, and Region
Asia-Pacific, Europe, Middle East and Africa, South Africa and North America
KEY Companies Covered
- Airbus SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Boeing Co
- Meggitt PLC
- Honeywell International Inc.
- Safran S.A.
- United Technologies Corporation
- General Electric Company
- Embraer S.A.
- Other Key Companies
Aircraft Health Monitoring Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aircraft Health Monitoring Market, by Component
Aircraft Health Monitoring Market, by Installation
- On-Board System
- Ground System
Aircraft Health Monitoring Market, by Operation
- Post Flight
Aircraft Health Monitoring Market, by Aircraft Type
- Business Jet
Aircraft Health Monitoring Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of the global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- Aircraft Health Monitoring Market Providers
- Aircraft Health Monitoring Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Aircraft health monitoring Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AIRCRAFT HEALTH MONITORING MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Increasing Aviation Fatalities
4.2.2. Reducing Fuel Consumption and Carbon Dioxide Emission
4.3.1. Wireless Sensor Network
4.4.1. High Maintenance Cost
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY COMPONENT, Market Size in USD Million (2018—2025)
7 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY INSTALLATION, Market Size in USD Million (2018—2025)
7.2 On-Board System
7.3 Ground System
8 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY OPERATION, Market Size in USD Million (2018—2025)
8.3 Post Flight
9 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY AIRCRAFT TYPE, Market Size in USD Million (2018—2025)
9.4 Business Jet
10 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY REGION, Market Size in USD Million (2018—2025)
10.1 North America
10.2.6 Rest of Europe
10.3.4 South Korea
10.3.5 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 Saudi Arabia
10.4.3 Rest of Middle East and Africa
10.5 South America
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 Airbus SE
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Boeing Co
12.3 Meggitt PLC
12.4 Honeywell International Inc.
12.5 Safran S.A.
12.6 United Technologies Corporation
12.7 General Electric Company
12.10 Embraer S.A.
12.11 Other Key Companies
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.
About Forencis Research
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Key Questions Answered by the Report
- Major factors impacting the market and its growth
- Evolving Types of the various products in the Market
- Evolving Application of the various products in the Market
- Growing countries in the Global Market
- Effects of the developments in the market on the industry and on the market players
- Key market developments undertaken by the leading players
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