The global aircraft health monitoring systems is anticipated to grow at a CAGR of nearly 5.5% during the forecast period (2024-2031). The increasing inclination of airlines toward ECM will positively increase the demand of the aircraft health monitoring system, which in turn drive the market growth during the projected forecast period. Several airliners are signing contracts with industry players for enhanced support for their fleets. For instance, in March 2020, Red Wings Airlines and Lufthansa Technik signed a six-year contract for providing support to engines such as the IAE V2500 and CFM56-5B of its Airbus fleet. This contract includes a range of services that include ECM. In March 2020, Lufthansa Technik also signed a contract with Smartavia, a Russian airline, for providing technical services to the fleet of Boeing 737 aircraft.
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The market growth is also driven by the presence of major players and their contribution towards market growth. The market players in the AHMS market are include Safran S.A, Airbus S.A.S, Raytheon Technologies Corp, Honeywell international Inc, Teledyne Technologies Inc, and among others. These market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, in order to provide Aircraft Health Awareness System (AHAS), General Electric, a subsidiary of GE Aviation was chosen by Bell Textron Inc, a subsidiary of Textron Inc. The AHAS system is expected to be installed in the Bell 360 Invictus prototype, which is a part of the Future Attack Reconnaissance Aircraft (FARA) program of the US Army.
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Market Coverage
- Segment Covered-
o By End-User
o By Platform
o By Installation
o By Solution
o By Operation Mode
o By Fit
o By System
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Safran S.A, Airbus S.A.S, Raytheon Technologies Corp, Honeywell international Inc, Teledyne Technologies Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Aircraft Health Monitoring Systems Market Report Segment
By End-User
- OEMs
- Airlines
By Platform
- Commercial Aviation
- Business & General Aviation
- Military Aviation
By Installation
- On board
- On Ground
By Solution
- Hardware
- Software
- Services
By Operation
- Real Time
- Non-real time
By Fit
- Line Fit
- Retro Fit
By System
- Engine health monitoring
- Structural health monitoring
- Component monitoring
- MRO
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