Market
News: The Aircraft Health Monitoring Market Is Projected To Grow From USD 3.74
Billion In 2018 To USD 5.43 Billion By 2023, At A CAGR Of 7.77% From 2018 To
2023
According
to the new market research report on "Aircraft
Health Monitoring Market by Aircraft Type (Commercial, Business, Rotary,
Military), Operation Time (Real-Time, Non-Real-Time), Installation (Onboard, On
Ground), Fit (Linefit, Retrofit), Solution, and Region - Global Forecast to
2023",. Availability of real-time information for better decision-making,
rise in the number of aviation accidents, increase in adoption of connected
aircraft solutions, and availability of massive amount of data generated from
sensors are major factors driving the aircraft health monitoring market.
Browse 163 market data Tables and 48
Figures spread through 199 Pages and in-depth TOC on "Aircraft Health
Monitoring Market - Global Forecast to 2023"
Press Release:
Based on installation, the onboard
segment is ta a higher rate during the forecast period.
Based
on installation, the onboard segment of the aircraft health monitoring market
is projected to grow at a higher CAGR during the forecast period as compared to
the on ground segment. The growth of the onboard segment can be attributed to
the increase in demand for highly connected aircraft systems.
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Based
on solution, the hardware segment is estimated to lead the AHM market in 2018.
Based
on solution, the hardware segment is estimated to lead the aircraft health monitoring market in 2018. The growth of this
segment can be attributed to the rise in the application of sensors in engines,
aerostructures, and other parts of the aircraft. Installation of ACARS and
flight data management systems in aircraft have also increased the adoption of
hardware solutions.
The Asia Pacific market is expected
to witness the highest growth during the forecast period.
Among
regions, the Asia Pacific aircraft health monitoring market is projected to
witness the highest growth during the forecast period. Factors responsible for
the growth of the aircraft health monitoring market in Asia Pacific include
According to IATA, the Revenue Passenger Kilometers (RPK) growth in this region
was 9.1% in 2017. The region is a diverse mix of countries and aviation
requirements; it is projected that by 2033, it will witness the highest number
of aircraft deliveries than any other region. The increase in aircraft deliveries
will eventually lead to the increase in the aircraft health monitoring market,
which will further drive the market for avionics systems.
Major
companies profiled in the aircraft health monitoring market report are Boeing (US), Airbus (Netherlands), United
Technologies Corporation (US), General Electric (US), Honeywell (US), and
Rockwell Collins (US), among others. Other major players include Rolls Royce
(UK), Safran (France), FLYHT (Canada), Curtiss-Wright (US), Esterline (US),
Meggitt (UK), GoGo (US), Inmarsat (UK), and SITA (Switzerland) among others.
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