According to a new market research report, Global Commercial Aircraft Health Monitoring Systems Market, the total Commercial Aircraft Health Monitoring Systems market is expected to reach $992.0 M by 2017 with a CAGR of 2.1%.
Global Commercial Aircraft Health Monitoring Systems Market is based on the data collected and researched; with the help of primary sources and secondary sources. The report covers the revenues and health monitoring systems installed on various types of aircraft models and the type of HMS which includes line fit and retrofit market.
Aircraft Health Monitoring systems collect diagnostic and prognostic information from an aircraft and have the capability to make appropriate decisions about maintenance actions based on available resources. An aircraft may develop cracks, structural damages due to ground handling, bird hit, lightening strike etc. These cracks or damages may grow to critical sizes over a period of time and can lead to failure. Hence health monitoring systems of an aircraft can reduce unscheduled maintenance and downtime and improve aircraft performance and safety.
The estimated revenue for aircraft health monitoring systems market has increased from $896.0 m in 2012 to $992.0 m in 2017 globally. The CAGR of 2012 to 2017 is estimated to be 2.1%. The revenues for aircraft health monitoring systems market show an increase over the forecasted period and will continue to be a fast evolving market.