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.
Market Drivers:
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.
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.
Market Challenges:
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.
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.
|
Report Features |
Specifics |
|
Historical/Estimated/Forecasted Market Size Years |
2018-2025 |
|
Base Year for Market Calculation |
2019 |
|
Forecasted Period |
2020-2025 (2020 estimated year, forecasted up to 2025) |
|
Measured Units |
Value (USD Million) |
|
Segments Included |
Component, Installation, Operation, Aircraft Type, and Region |
|
Regional Coverage |
Asia-Pacific, Europe, Middle East and Africa, South Africa and North America |
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
Aircraft Health Monitoring Market, by Operation
Aircraft Health Monitoring Market, by Aircraft Type
Aircraft Health Monitoring Market, by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
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
4.1 Introduction
4.2 Drivers
4.2.1. Increasing Aviation Fatalities
4.2.2. Reducing Fuel Consumption and Carbon Dioxide Emission
4.3 Opportunities
4.3.1. Wireless Sensor Network
4.4 Challenges
4.4.1. High Maintenance Cost
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
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)
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
7 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY INSTALLATION, Market Size in USD Million (2018—2025)
7.1 Introduction
7.2 On-Board System
7.3 Ground System
8 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY OPERATION, Market Size in USD Million (2018—2025)
8.1 Introduction
8.2 Real-Time
8.3 Post Flight
9 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY AIRCRAFT TYPE, Market Size in USD Million (2018—2025)
9.1 Introduction
9.2 Commercial
9.3 Helicopter
9.4 Business Jet
9.5 Military
10 GLOBAL AIRCRAFT HEALTH MONITORING MARKET BY REGION, Market Size in USD Million (2018—2025)
10.1 North America
10.1.1 US
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 UK
10.2.5 Russia
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 India
10.3.3 Japan
10.3.4 South Korea
10.3.5 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 Saudi Arabia
10.4.2 UAE
10.4.3 Rest of Middle East and Africa
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.1 Introduction
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
12.8 Rolls-Royce
12.9 FLYHT
12.10 Embraer S.A.
12.11 Other Key Companies
13 APPENDIX
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