Commercial Aircraft Health Monitoring Systems Market Size To Expand at a Notable CAGR Of 6% During 2023 - 2030

January 2030/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Commercial Aircraft Health Monitoring Systems Market. 

Market Scenario

The global commercial aircraft health monitoring systems market is predicted to register 6% CAGR during the forecast period (2023-2030) owing to the benefits of structural health monitoring, asserts Market Research Future (MRFR). Aircraft health monitoring systems help to collect real-time data from the aircraft fleet and ensures that it is available to the ground operations. Sensors are installed at several damage hotspot locations via aircraft engine or structure and offer early detection of anomaly. The systems help to take preventive measures on-time which further minimizes the chances of major system failure and critical damage.

Drivers and Constraints Impacting the Market

The global commercial aircraft health monitoring systems market is considered to register a stellar CAGR owing to several driving factors. With the need for aircraft real-time damage detection, advantages of structural health monitoring, growing demand for automation, and rising trends towards electric aircraft the global market for commercial aircraft health monitoring systems is considered to flourish during the estimated period. Moreover, increasing utilization of asset, reducing unscheduled maintenance, rise in situation awareness to drive operations, and cost-effective maintenance are some of the other factors estimated to drive the market in the coming years. Aircraft health monitoring systems also provide several advantages over conventional damage detection techniques, such as implemented health monitoring capabilities with the help sensors mounted on the aircraft, which is further considered to flourish the market growth. Moreover, commercial aircraft health monitoring systems facilitates condition-based maintenance and helps to eliminate the need for disassembly of the aircraft components for damage evaluation.  This is regarded as the primary factor fueling the market growth.

On the flip side, the durability and reliability of damage detection sensors or techniques pose a major threat to the growth of global commercial aircraft health monitoring systems market. Moreover, the major challenges faced by the increasing number of aircraft operators are the need for frequent inspection and improved damage detection.

Global Commercial Aircraft Health Monitoring Systems Market: Segmental Analysis

The global commercial aircraft health monitoring systems market has been segmented on the basis of IVHM technology, sub-system, fit, and region.

By mode of IVHM technology, the global commercial aircraft health monitoring systems market has been segmented into diagnostic, prognostic, and CBM & adaptive control.

By mode of sub system, the global commercial aircraft health monitoring systems market has been segmented into aircraft structure, aero-propulsion, and avionics and ancillary system.

By mode of fit, the global commercial aircraft health monitoring systems market has been segmented into retro fit and line fit. Among these, the retrofit segment is anticipated to expand at a higher CAGR during the appraisal period owing to rising retrofit by the airlines in their current fleet of aircraft.

Regional Insights

Geographically, the commercial aircraft health monitoring systems market span across regions namely, America, Asia Pacific, Europe, and the Middle East and Africa.

Among all the regions, the European region is considered to dominate the global commercial aircraft health monitoring systems market and is likely to maintain its dominance throughout. The growth is attributed to the growth in the number of passengers along with aircraft movements. Major market players in this region like the U.K. and Germany have experienced growth in the number of aircraft movements and passengers which is further fueling the growth in this region.

The Asia Pacific region occupies the second-largest position owing to several factors such as growth in global air passenger traffic which have triggered the demand for commercial aircraft health monitoring systems in this region.

Industry Updates

March 2018: Honeywell Aerospace have recently announced a new Health and Usage Monitoring System technology, termed RECON which helps the civil and defense helicopter operators to ensure aircraft safety and also reduce the operating and marginal cost.

Competitive Dashboard

The prominent players operating the global commercial aircraft health monitoring systems market are GE Aviation, Airbus, Meggitt, United Technologies, Rockwell Collins, Accellent Technologies, BeanAir, RSL Electronics, Ultra Electronics Holdings, Rolls-Royce Holdings, and Boeing.