Aircraft Health Monitoring Market To Reach USD 4.3 Billion By 2025 | CAGR 7.5% - Forencis Research

Aircraft Health Monitoring Market Size, Share, Trends, Growth, Analysis, Research

Global Aircraft Health Monitoring Market: Key Highlights

  • According to the new market research report Aircraft Health Monitoring Market By Component (Hardware, Software, Service), By Installation (On-Board System, Ground System), By Operation (Real-Time, Post Flight), By Aircraft Type (Commercial, Helicopter, Business Jet, Military), By Region (Asia Pacific, Europe, Middle East And Africa, South America, North America) – Global Forecast (2018 To 2025)”, the global aircraft health monitoring market is estimated to reach USD 4.3 Billion by 2025 at a CAGR of 7.7% during forecast period 2020 to 2025.
  • The increasing need for reducing fuel consumption and growing need for reducing carbon dioxide emissions are few factors among others which are expected to drive the aircraft health monitoring market during the forecast period.
  • However, the high cost of maintenance is expected to challenge the growth of the market during the forecast period.

Aircraft Health Monitoring Market

Global Aircraft Health Monitoring Market: Key Market Dynamics

  • Increasing aviation fatalities is expected to drive the market of aircraft health monitoring system as the system helps in the identification of any mechanical failure in the aircraft and thus preventing any fatalities to the aircraft.
  • Reducing fuel consumption and carbon dioxide emission is expected to drive the growth of the market as the system observes the performance of the aircraft, collects fuel usage information and calculates resulting in carbon dioxide emission.
  • The demand for Wireless Sensor Network is expected to rise the market in the near future as it will reduce the installation and maintenance cost and reduce the complexity of the system.
  • High maintenance cost can hinder the growth of the market as the system is complex containing many sensors and advanced hardware components which requires additional maintenance.

Global Aircraft Health Monitoring Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is the fastest growing market in the aircraft health monitoring systems. Aircraft health monitoring is expected to show remarkable long term growth in the Asia-Pacific region. This high growth rate is likely to continue in the coming decades, a large number of aircraft are scheduled for future delivery to the airline operators in the region. This growth is predicted to impact the regional economic growth of the aviation industry in the region.

  • Europe

The aircraft health monitoring market is predicted to expand substantially in the European region. The aspects compelling growth of the market in this region covers technological advancements and significant investments in research and development. Current international projects for the development and trials of the aircraft health monitoring in Europe caters to the opportunity to attain improvement for current technology towards practical application. Thus, growing investments in technological advancements for aircraft monitoring system is expected to expand the market in the region.

Global Aircraft Health Monitoring Market: Key Players Overview

  • Airbus SE:

Airbus SE is an international pioneer in the aerospace industry. In April 2019, Airbus launched Skywise Health Monitoring (SHM) – with Allegiant Air on its A320s. With this monitoring system, Airbus provides a complete offering for diagnostics and troubleshooting activities, the airline can choose between a service provided by Airbus with AiRTHM or the autonomy of its maintenance control center with AIRMAN-web Expert.

  • Boeing Co:

Boeing Company is an aerospace company which designs, produces and sells aircraft, helicopters, satellites, information and communication system among other products worldwide. Aircraft health management is a part of Boeing services which offers information for better operational performance to the airline by converting available data with airline into insightful information.

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Rep Id : AnD 038

Published : 2020-01-23