What is the Historic and Current Scenario of the Aircraft Health Monitoring System Market?
The aircraft health monitoring system market has seen considerable growth due to a variety of factors.
•The market for aircraft health monitoring systems has experienced robust growth in the past few years. Market projections reveal an increase from $5.01 billion in 2024 to $5.43 billion in 2025, representing a compound annual growth rate (CAGR) of 8.4%.
Factors driving the growth during the historical timeline include safety and maintenance directives, the pressure to cut costs, the issue of an aging airplane fleet, the emphasis on preventive upkeep, and the drive for more efficient operations in the airline industry.
What are the Forecasted Growth and Key Factors of the Aircraft Health Monitoring System Market?
The aircraft health monitoring system market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations reflect a robust surge in the aircraft health monitoring system market size within the forthcoming years. It is projected to scale up to $7.35 billion in 2029, with a compound annual growth rate (CAGR) of 7.9%.
The said growth during the forecast period can be ascribed to the uptick in air traffic and fleet enlargement, union with fleet management systems, an increased emphasis on aircraft connectivity, the advent of predictive analytics, and regulatory backing and standardization. The forecast period also forecasts major trends such as advancements in sensor technologies, conjunction with flight operations data, the creation of portable and wearable AHMS gadgets, proliferation of unmanned aerial vehicles (UAVs) and urban air mobility (UAM), including global collaborations for AHMS standardization.
What Are the Critical Driver Fuelling the Aircraft Health Monitoring System Market's Growth?
The aircraft health monitoring system market is anticipated to grow due to the rising rate of aircraft mishaps. An aircraft accident includes any occurrence where an aircraft or any person, property, or object gets damaged or hurt. Aircraft health monitoring systems (AHMS) can detect real-time defects and anomalies in essential systems, which paves the way for preventive maintenance and prevents in-flight failures that could lead to accidents. For example, the International Air Transport Association (IATA), a Canada-based inter-airline cooperation association, reported about 39 flight mishaps in 2022, increased from 29 in 2021, with an average of 43 accidents from 2018 to 2022, in March 2023. Hence, the rise in aircraft accidents fuels the demand for aircraft health monitoring systems.
How Is the Aircraft Health Monitoring System Market segmented?
The aircraft health monitoring system market covered in this report is segmented –
1) By System: Engine Health Monitoring, Structural Health Monitoring, Component Health Monitoring
2) By Subsystem: Aero-propulsion, Avionics, Ancillary Systems, Aircraft Structures
3) By Installation: On Board, On Ground
4) By Technology: Prognostics System, Diagnostics System, Detection System, Adaptive Control, Other Technologies
5) By End User: Commercial, Military
Subsegments:
1) By Engine Health Monitoring: Real-Time Monitoring Systems, Data Acquisition Systems, Engine Performance Analysis Tools
2) By Structural Health Monitoring: Sensor-Based Monitoring Systems, Fatigue Monitoring Systems, Damage Detection Systems
3) By Component Health Monitoring: Avionics Health Monitoring Systems, Landing Gear Monitoring Systems, Fuel System Monitoring System
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What New Trends Are Influencing the Aircraft Health Monitoring System Market?
The emergence of technological innovations is becoming a significant trend in the aircraft health monitoring system sector. Major firms that are part of this market are launching revolutionary products to maintain market dominance. For instance, in June 2023, Pratt & Whitney, an aerospace manufacturer based in the US, released Percept, a system for aircraft engine analysis based on artificial intelligence. The system utilizes the Awiros Video Intelligence Operating System (OS) to facilitate a cloud-based interface that lets clients capture images and videos of aircraft engines using mobile gadgets and receive instant replies about part availability. This leads to quicker and more cost-efficient turnover of leased engine assets. The solution allows for automated inspections, which reduces the time spent by approximately 90% as compared to a manual inspection where each detail has to be individually verified by an inspector.
Who Are the Key Players in the Aircraft Health Monitoring System Market?
Major companies operating in the aircraft health monitoring system market include:
• General Electric Company
• Raytheon Technologies Corporation
• The Boeing Company
• Airbus SE
• Honeywell International Inc.
• Mitsubishi Heavy Industries Ltd.
• Safran Group
• Rolls-Royce Holdings PLC
• Textron Aviation Inc.
• Amphenol Corporation
• Bombardier Inc.
• Lufthansa Technik AG
• AMETEK Inc.
• Collins Aerospace (United Technologies Corporation)
• Teledyne Technologies Inc.
• Embraer S.A.
• Air France Industries KLM Engineering & Maintenance Group
• Curtiss-Wright Corporation
• Zodiac Aerospace
• Meggitt PLC
• SITA N.V.
• Ultra Electronics Holdings PLC
• eInfochips
• Intelsat S.A.
• GE Engine Services LLC
• FLYHT Aerospace Solutions Ltd
• Avionica Inc.
• RSL Electronics Ltd
• Acellent Technologies Inc.
• Ventura Aerospace Inc.
What Is The Most Dominant Region In The Aircraft Health Monitoring System Market?
Asia-Pacific was the largest region in the aircraft monitoring system market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft health monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
