Aircraft Predictive Maintenance Market will reach at $ 26.43 billion by 2032, Upcoming Trends, Segmented by Type, Application, End-User and Region -Collins Aerospace, Lufthansa, Infosys Limited, Skywise, Aerogility Limited, Honeywell

The global predictive maintenance market size was USD 4.15 Billion in 2021 and is expected to register a revenue CAGR of 30.6% during the forecast period. This market will reach at $ 26.43 billion by 2032. Increasing need for maximizing asset availability and minimizing maintenance costs, owing to rapid deployment of Internet of Things (IoT) & rising investments in predictive maintenance are factors expected to drive market revenue growth during the forecast period. Predictive maintenance is a strategy that employs data analysis tools and procedures to spot abnormalities in operation and potential problems in processes and equipment so that these can be fixed before the process encounters any errors. Predictive maintenance predicts issues by using historic and actual data from many sections of a business.

Key Takeaways
Components Outlook:
On the basis of components, the global predictive maintenance market has been segmented into solutions and services. Services segment is expected to register a rapid revenue growth rate during the forecast period, owing to increasing adoption of these services by large number of companies as it is possible to predict when a component, equipment, or product could break down as well as malfunction through the use of predictive maintenance services. Manufacturers utilize IoT to collect data through sensors embedded in the equipment at client sites. Manufacturing companies are able to offer customers predictive maintenance services by analyzing this data, which is streamed and predicatively analyzed, on a regular basis. In order to develop a competitive advantage as well as create new recurring revenue streams, companies are increasingly turning to subscription-based solutions that utilize predictive maintenance.

The Global Aircraft Predictive Maintenance Market Size is Projected to Reach a CAGR of 39% during 2022-2029.

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Major Market Players Profiled in the Report include:

Collins Aerospace, Lufthansa, Infosys Limited, Skywise, Aerogility Limited, Honeywell

Competitive Landscape:
Competitive landscape of the global predictive maintenance market is moderately fragmented with various key companies operating at global and regional levels. Major companies are engaged in Research & Development (R&D) initiatives and testing and entering into alliances to develop and introduce more novel and innovative products and devices.

Some major companies in the global market report include IBM Corporation, SAP, Siemens, Microsoft, General Electric, Intel Corporation, Robert Bosch GmbH, Cisco Systems, Inc., ABB, and SKF.

On 4 February 2021, OPEX Group signed a deal with Dana Petroleum. The firms combined their experience in data research, software development, and oil and gas through this collaboration. The partnership will also assist their consumers in making better use of their data.
On 24 January 2022, Aizon announced the release of their new asset tracking tool for pharmaceutical and biotech industries. Aizon Asset Health, built on Aizon's GxP compliant AI SaaS Platform, gives intelligent historical maintenance analysis, proactively observes the condition of critical assets on real-time basis, identifies potential problems, and provides actionable maintenance recommendations to keep equipment running optimally.
Aircraft Predictive Maintenance Market Segmentation by Type:

Service, Software.

Aircraft Predictive Maintenance Market Segmentation by Application:

MROs, Airlines

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Drivers

For business, holidays, get-togethers and many other reasons, the people around the world travel via airplane to save time. People select airplane as an option for rapid transportation. Nowadays, for most of the airline companies, delays and cancellation of flights are expensive problems. To rectify these problems, the companies are spending much more revenue in R&D departments.

For maintenance purposes, many companies are developing sensors to amend the parts of an aircraft. The primary factors, which are driving the predictive airplane maintenance market are delays and cancellation problems of flights. Many companies are developing innovative technologies and solutions to offer better maintenance, which is resulting into an increasing demand for predictive airplane maintenance from past few years.

Challenges

As the predictive airplane maintenance is used widely for in-time support, the airline companies are facing problems with typical parts of an airplane. Because industrial maintenance software platforms, sensors, and operations are currently highly fractured. Moreover, the connectivity of humans and automated machines in maintenances are the factors which may hamper the growth of the predictive airplane maintenance market in future.

Key Insights That Study Is Going to Provide:

The 360-degree Aircraft Predictive Maintenance Market overview is based on a global and regional level
Market Share & Sales Revenue by Key Players & Emerging Regional Players
Competitors - In this section, various Aircraft Predictive Maintenance industry leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
A separate chapter on Aircraft Predictive Maintenance Market Entropy to gain insights on Leader's aggressiveness towards market [Merger & Acquisition / Recent Investment and Key Developments]
Patent Analysis No of patents / Trademarks filed in recent years.
Table of Content:

Chapter 1: Introduction, market driving force product Objective of Study, and Research Scope Aircraft Predictive Maintenance Market

Chapter 2: Exclusive Summary - the basic information of the Aircraft Predictive Maintenance Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges of Aircraft Predictive Maintenance

Chapter 4: Presenting Aircraft Predictive Maintenance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying 2015-2020 by Type, End-User, and Region

Chapter 6: Evaluating the top manufacturers in the Aircraft Predictive Maintenance Market, including their Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, by countries, and by manufacturers with revenue share and sales by key countries in these various regions.

Chapter 8 & 9: Displaying the Appendix, Methodology, and Data Source

Conclusion: At the end of the Aircraft Predictive Maintenance Market report, all the findings and estimations are given. It also includes major drivers and opportunities along with regional analysis. The segment analysis is also provided in terms of type and application.

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The aircraft line maintenance market is projected to grow from USD 19.23 Billion in 2018 to USD 23.50 Billion by 2023, at a CAGR of 4.10% from 2018 to 2023. The growth of the aircraft line maintenance market across the globe can be attributed to the increasing number of flights per aircraft, rising number of new aircraft deliveries from OEMs, and increasing requirement for carrying out repair and maintenance of the existing aircraft fleets of airlines.

Based on service, the aircraft line maintenance market has been segmented into component replacement & rigging service, defect rectification service, engine & APU service, Aircraft on Ground (AOG) service, and line station setup & management service. The component replacement & rigging service segment is projected to lead the aircraft line maintenance market during the forecast period. The increased demand for component replacement & rigging services by various airlines for the replacement of their existing legacy aircraft systems is driving the growth of the component replacement & rigging service segment of the aircraft line maintenance market. The component replacement & rigging service segment has been further classified into hydraulic leak rectification, structural repairs, landing gear replacement & removal, windshield changes, and avionics repairs.

Based on type, the aircraft line maintenance market has been segmented into transit checks and routine checks. The routine checks type segment is projected to grow at a higher CAGR as compared to the transit checks segment from 2018 to 2023. Routine checks of an aircraft comprise maintenance pre-flight checks, post-flight checks, service checks, overnight checks, and weekly checks. When an aircraft completes 155 hours of flight, it goes for fill or change of oils and fluids such as hydraulic fluid, starter oil, engine oil, and generator drive fluids. As the number of flights per aircraft is rising, it is projected to lead to an increased requirement for routine checks of aircraft.

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