“The Aircraft Health Monitoring (AHM) market is projected to grow at a CAGR of 7.77% from 2018 to 2023”
The AHM market is estimated to be USD 3.74 billion in 2018 and is projected to reach USD 5.43 billion by 2023, at a CAGR of 7.77% from 2018 to 2023. Increasing demand for smart connected aircraft from commercial and military operators to lower maintenance cost is expected to drive the growth of the AHM market during the forecast period. However, regulatory clearance and lack of common data standards and risks associated with cybersecurity restrain for the growth of this market.
“The commercial segment is projected to grow at the highest CAGR in the AHM market”
The commercial segment in AHM market is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the increase in air travel, the rise in disposable income of the middle-class population, and international trade and tourism. Commercial aviation companies invest in technologically-advanced aircraft to facilitate effective use of them. Moreover, they are constantly seeking ways to reduce and minimize operational costs, including unscheduled aircraft maintenance to improve the efficiency of aircraft.
“The linefit segment is estimated to account for a larger share in the AHM market in 2018”
The linefit segment in the AHM market is anticipated to account for a larger share in 2018, as compared to the retrofit segment. The larger market share can be attributed to the increasing demand for installation of health monitoring systems in new aircraft.
“The services segment is projected to grow at the highest CAGR in the AHM market”
The services segment in AHM market is anticipated to grow at the highest CAGR during the forecast period. The high growth can be attributed to the rise in demand for connected aircraft by airlines as well as increasing demand for flight data monitoring services.
“North American region is estimated to account for the largest share of the AHM market in 2018” North America is estimated to lead the AHM market in 2018. Countries in this region include the US and Canada. The growth in this region can be attributed to the rise in connected aircraft and flight data monitoring services.
Break-up of profile of primary participants for this report:
- By Company Type - Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
- By Designation - C level – 35%, Director level – 25%, Others – 40%
- By Region - North America - 30%, Europe – 20%, Asia Pacific – 30%, Middle East – 10%, and RoW – 10%
Key players profiled in the AHM market report include the Airbus (Netherlands), Boeing (US), United Technologies (US), Honeywell (US) and General Electric (US) among others. Other major players include Rockwell Collins (US), Safran (France), FLYHT (Canada), Rolls Royce (UK), Curtiss-Wright (US), Esterline (US), Meggitt (UK), and SITA (Switzerland) among others.
Reasons To Buy the report:
From an insight perspective, the AHM market report has focused on various levels of analysis ? industry analysis, market rank analysis of top players and company profiles, which together comprise and discuss the basic views on the competitive landscape, high-growth regions, and countries and their respective regulatory policies, drivers, restraints, and opportunities.
The AHM market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on AHM equipment offered by the top 25 market players
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, among others in the AHM market
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading market players