openPR Logo
Press release

Aircraft Health Monitoring System Market Size, Analysis, Share, Research, Business Growth and Forecast to 2027

04-13-2022 06:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FORTUNE BUSINESS INSIGHTS

Aircraft Health Monitoring System Market Size, Analysis,

The global aircraft health monitoring system market size is projected to reach USD 4,987.9 million by 2027, exhibiting a CAGR of 11.56% during the forecast period. The value of the market stood at USD 4,202.4 million in 2019, according to Fortune Business Insights™ in its report, titled "Aircraft Health Monitoring System Market, 2020-2027". The demand for air travel has plummeted due to the imposition of travel bans, weakened tourist activities, and social distancing. As a result, in 2020, the market declined by a staggering -44.8% and reached a value of USD 2,319.7 million.

Boeing Signs Multiple Aircraft Deals at the Paris Airshow

In June 2019, Boeing, through its fast-growing Boeing Global unit, signed a series of worth more than USD 100 million at the Paris Airshow. Among the various contracts inked by Boeing was an aircraft health monitoring system (AHMS) agreement that the company signed with Go2Sky, the Slovak charter airline operator. This, along with the other deals, is part of Boeing's ongoing push to establish and expand its higher-end, digital services catering to the growing need of airline companies for advanced aircraft maintenance and analytics solutions.

Request Sample PDF Brochure:-

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/aircraft-health-monitoring-system-market-105027



List of Key Players Profiled in the AHMS Market Report:

Meggitt (UK)
Curtiss-Wright (US)
SAFRAN (France)
General Electric Company (US)
United Technologies Corporation (US)
Airbus S.A.S. (The Netherlands)
Lufthansa Technik (Germany)
Tech Mahindra (India)
FLYHT (Canada)
Rolls Royce (UK)
Honeywell International, Inc. (US)
Boeing (US)
Development of Electric Aircraft to Brighten Market Outlook

With a view to advance sustainability in the aviation industry, several aircraft innovators, especially startups, have been engineering and introducing electric airplanes, which has stoked the aircraft health monitoring system market growth. In September 2020, for instance, the Swedish startup, Heart Aerospace, unveiled its industry-leading battery technology and electric drivetrain as part of its mission to build a full-fledged electric airplane for regional flights. Similarly, in June 2019, Israel-based Eviation launched Alice, a breakthrough zero-emission, all-electric 9-seater aircraft, at the Paris Airshow. The innovations represented by these companies are stoking the demand for aircraft health monitoring systems as the maintenance requirements of battery-powered airplanes will be niche and these systems will be needed to ensure the smooth functioning of all the components.

Market Segments

On the basis of the sub-system, the market has been segregated into aero-propulsion systems, airframes, ancillary systems, software, and others. By technology, the market is segmented into prognostic systems, diagnostic systems, detection systems, adaptive control, and others. Based on the platform, the market is classified into commercial aircraft, business jets, and regional & military aircraft. Based on fit, the market has been bifurcated into retrofit and line-fit. In terms of geography, the market has been grouped into North America, Europe, Asia Pacific, and the Rest of the World.

North America to Bolster Its Apex Market Position; Asia Pacific to Register Highest CAGR

With a size of USD 1,386.8 million in 2019, North America is poised to dominate the aircraft health monitoring system market share during the forecast period. The principal reason for the region's unassailable position in the global market is the strong presence of aviation industry giants, such as Bombardier and Boeing, in the US and Canada. These companies have been heavily investing in advanced aircraft maintenance technologies, which have ensured the enduring growth of the regional market.

Asia Pacific is slated to showcase the highest CAGR, supported by the rapidly increasing air passenger traffic in the region. This is primarily attributable to the phenomenal economic growth and development of India and China over the past few decades. Furthermore, domestic airline companies are also making strategic investments in modern fleet management technologies, such as aircraft health monitoring systems, to broaden their business horizons.

Inquire Before Buying This Research Report:-

https://www.fortunebusinessinsights.com/enquiry/queries/aircraft-health-monitoring-system-market-105027

Aerospace Bigwigs to Dictate Competitive Dynamics

The competitive landscape of this market is characterized by the dominant activities of bigwigs, such as Airbus and Honeywell, in the aerospace industry. Their robust finances and strong portfolios have allowed these companies to continuously invest in the development of next-generation aircraft health monitoring systems. However, the governing dynamics of this market are now being reshaped due to the entry of startups that are specializing in inventive technologies and enhance this market's potential.

Industry Development:

December 2020: Safran Helicopter Engines inked a Support-by-Hour contract with China-based State Grid General Aviation Company (SGGAC). Under the contract, Safran will provide maintenance, repair, and overhaul (MRO) services to SGGAC, covering its H225 and H215 fleets.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower, Baner-Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.

Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com

Fortune Business Insights™

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Aircraft Health Monitoring System Market Size, Analysis, Share, Research, Business Growth and Forecast to 2027 here

News-ID: 2601613 • Views: 121

More Releases from FORTUNE BUSINESS INSIGHTS

Carbon Black Market price is expected to showcase considerable growth by reachin …
As Per Report Published By Fortune Business Insights™ the global carbon black market price is expected to showcase considerable growth by reaching USD 17,027.1 million by 2027 while exhibiting a CAGR of 4.4% between 2020 and 2027. This growth is attributed to the rising rubber industry and the increasing incidence of road fatalities that is propelling the demand for advanced carbon black globally. This information is published by Fortune
Document Capture Software Market Industry Analysis, Size, Share, Trends, Demand, …
The global document capture software market size is expected to gain momentum from the increasing demand for Software-as-a-service based documents and software solutions. An unpublished report by Fortune Business Insights titled, "Document Capture Software Market Size, Share & Industry Analysis, By Deployment (On-Premise, Cloud-Based), By Solution (Multiple-channel Capture, Cognitive Capture, Mobile Capture), By Application Area (Retail, Banking, BFSI, Healthcare, IT, Telecom, Government, Other) and Regional Forecast, 2021-2028," discusses the prime
Oleochemicals Market size is expected to reach USD 52.04 billion by 2028 | Know …
The global oleochemicals market size is expected to reach USD 52.04 billion by 2028, exhibiting a CAGR of 6.4% between 2021 and 2028. The growing emphasis on natural oils & fats obtained from living feedstock, including plants, animals, and oilseeds, will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled "Oleochemicals Market, 2021-2028." The market size stood at USD 31.42 billion in 2020. Get Sample PDF
Acrylonitrile Butadiene Styrene Market share is projected to reach USD 42,809.5 …
The global acrylonitrile butadiene styrene market share is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. The phenomenal growth in the global construction industry will be a prime growth driver for this market, states Fortune Business Insights™ The construction industry has entered a phase of prolific expansion due to the rapid growth in world population and the proliferation of residential and

All 5 Releases


More Releases for Boeing

Aircraft Market Future Prospects 2025 | Airbus, Boeing, Bombardier
The Aircraft Market has witnessed continuous growth in the last few years and is projected to grow even further during the forecast period of 2020-2026. The exploration provides a 360 view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies
Satellite Launch Vehicle (SLV) Market | Research Study for Forecast Period with …
Satellite Launch Vehicle Market size is estimated to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing frequency of satellite launches for scientific, R&D, navigation and communication applications will drive the industry share. The technological revolution in satellite design, and launch will reduce the overall costs, thereby fueling the satellite launch vehicle market from 2018 to 2024. For instance, in 2017,
Global Aerospace Adhesives Market 2018 - Airbus, Boeing, Bombardier
Apex Market Reports, recently published a detailed market research study focused on the “Aerospace Adhesives Market” across the global, regional and country level. The report provides 360° analysis of “Aerospace Adhesives Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Aerospace Adhesives on
Global Trunk Aircraft Market 2018 - Boeing, Airbus
Apex Market Reports, recently published a detailed market research study focused on the “Trunk Aircraft Market” across the global, regional and country level. The report provides 360° analysis of “Trunk Aircraft Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Trunk Aircraft on
C4ISR Market Forecasts – Lockheed Martin Corporation, Boeing
MarketStudyReport.com Add New Global C4ISR Market by Manufacturers, Countries, Type and Application, Forecast to 2023 to its research database. The report presents a deep study of the market growth factors and drivers. The report spread across 103 pages with table and figures in it. """C4ISR is a military terminology, it is by the C2 (Command, Control) evolved, usually translated as command automation system. It is abbreviated of Command, Control, Communications, Computers,
C4ISR Market 2017- Lockheed Martin Corporation, Boeing, Raytheon
C4ISR Market 2017 Industry research report provides important information to identify and analyze the market need, market size and competition. This market research report used in maintaining competitiveness over competitors. C4ISR is a military terminology, it is by the C2 (Command, Control) evolved, usually translated as command automation system. It is abbreviated of Command, Control, Communications, Computers, Intelligence Surveillance, Reconnaissance. C4ISR system to provide military information command and management system, improve