Aircraft Health Monitoring System Market Analysis, Trends, Segmentation, Regional Overview and Forecast 2027 At CAGR 11.56% Worth USD 4,987.9 Million | Airbus S.A.S. (The Netherlands),Boeing (US),United Technologies Corporation (US),Honeywell Internationa

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.

𝐆𝐞𝐭 𝐚𝐧 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐇𝐞𝐚𝐥𝐭𝐡 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

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

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.


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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭:

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

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.

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.

𝐓𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞:

https://www.fortunebusinessinsights.com/checkout-page/105027

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

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This release was published on openPR.