Aircraft Health Monitoring Market: How the Market Will Perform In Upcoming Years
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
Market Drivers:
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.
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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 operator’s 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:
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.
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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.
List of the leading companies operating in the Aircraft Health Monitoring Market include:
- 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
- Rolls-Royce
- FLYHT
- 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
- Hardware
- Software
- Service
Aircraft Health Monitoring Market, by Installation
- On-Board System
- Ground System
Aircraft Health Monitoring Market, by Operation
- Real-Time
- Post Flight
Aircraft Health Monitoring Market, by Aircraft Type
- Commercial
- Helicopter
- Business Jet
- Military
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Aircraft Health Monitoring Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, 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?
Table of Content
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
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