Global Aircraft Health Monitoring market Size & Analysis – Forecasts To 2026 By Solution (Hardware, Software, Services), By Installation (Onboard, On Ground), By Fit (Line fit, Retrofit), By Operation Type (Real-time, Non-real time), By Aircraft Type (Commercial, Business Jets, Rotary Wing, Military), By Region (North America, Europe, Asia Pacific, CSA, MEA); Vendor Landscape, Company Market Share & Competitor Analysis
Global Aircraft Health Monitoring Market Insights
The Global Aircraft Health Monitoring is estimated to grow at a significant market share during the forecast period. Technological advancement in methods of aircraft monitoring coupled with widespread availability of real-time information for decision making is further expected to boost demand for aircraft health monitoring during the forecast period. Growing number of aviation accidents across the world is further estimated to boost the market for aircraft health monitoring during the coming years. Aircraft health monitoring systems play an important role in improving the overall security of aircrafts, which in turn reduce operational costs and maintenance to a great extent. Use of wireless sensors in aircraft health monitoring has led to improved accuracy and efficient monitoring of aircrafts. However, concerns with respect to data security and regulatory clearance are some factors expected to restrain growth in the aircraft health monitoring market.
Aircraft Health Monitoring Market: Solution Insights
The Global Aircraft Health Monitoring can be classified into hardware, software and services on the basis of solution. The hardware segment is estimated to hold the largest market share in terms of revenue during the forecast period. This growth can be attributed to growing use of sensors, aviation systems and components of connected aircrafts among others. The services segment is also estimated to grow at a significant CAGR during the forecast period.
Aircraft Health Monitoring Market: Installation Insights
Based on end user, the Global Aircraft Health Monitoring can be segmented into onboard, and on ground. The onboard segment is expected to hold the larger market share in terms of revenue. This can be attributed to significant rise in safety features, sensors and health monitoring systems inside commercial as well as military aircrafts. Onboard aircraft health monitoring plays an important role in ensuring safety of passengers in the aircraft, which is further expected to drive the market.
Aircraft Health Monitoring Market: Fit Insights
The Global Aircraft Health Monitoring is classified on the basis of fit into line fit and retrofit among others. The retrofit segment is estimated to hold the larger market share in terms of revenue. Retrofit avionics holds a significant market share, which is further expected to boost use of the technology for aircraft health monitoring.
Aircraft Health Monitoring Market: Operation Type Insights
Based on operation type, the Aircraft Health Monitoring Market is classified into Real-time and Non-real time among others. Real time aircraft health monitoring is estimated to grow at the highest CAGR, and is expected to hold the largest market share during the coming years. Real time aircraft health monitoring enables constant monitoring of various components inside and outside the aircraft, which increases operational efficiency to a great extent.
Aircraft Health Monitoring Market: Aircraft Type Insights
On the basis of aircraft type, the aircraft health monitoring market can be classified into commercial, business jets, rotary wing, and military among others. The commercial aircraft segment is estimated to hold the largest market share in terms of revenue during the coming years. This can be attributed to rapid growth in the commercial airline industry which is driven by rising disposable income of individuals.
Aircraft Health Monitoring Market: Regional Insights
North America is estimated to dominate the market for aircraft health monitoring during the forecast period, followed by the Asia Pacific region. This growth can be attributed to availability of advanced health monitoring systems in developed countries such as the U.S. and Canada, and growing awareness about efficient aircraft health monitoring. Growing number of aviation accidents is also an important contributing factor towards growth in demand for aircraft health monitoring systems. The Asia Pacific region is projected to grow at a high CAGR, followed by the Middle Eastern region due to fast-growing airline industry in the region.
Aircraft Health Monitoring Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase aircraft health monitoring systems over the coming years.
Aircraft Health Monitoring Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Aircraft Health Monitoring Market Share & Competitor Analysis
Major players in the Aircraft Health Monitoring Market are Airbus, Boeing, United Technologies Corporation, Honeywell International, Inc, and General Electric, Rolls Royce, Rockwell Collins, Safran, FLYHT, Curtiss-Wright, Esterline, Meggitt, and SITA among others.
In April 2019, Airbus launched Skywise Health Monitoring services
In June 2017, GE Aviation and AT&T enabled deployment of aircraft health monitoring services
The global aircraft health monitoring market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the aircraft health monitoring market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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