Global Aircraft Health Monitoring Market was valued US$3.50Bn in 2017 and is expected to reach US$6.80Bn by 2026 at a CAGR of about 8.66% during a forecast.
Global Aircraft Health Monitoring Market is segmented into by aircraft type, by operation time, by installation, by solution, and by region. Based on aircraft type, aircraft health monitoring market is classified into Commercial, Business, Rotary & Military. In operation time type are parted into Real-Time & Non-Real-Time. In the installation, the type is segmented into On-board & On-Ground. In solution are divided into Hardware, Software & Services. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Global Industry Analysis and forecast 2018-2026.
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Driving factors of aircraft health monitoring market are increased need for custom alerting & analysis solutions, increasing commercial aircrafts production, increase in adoption of connected aircraft solutions, growing IT expenditure among emerging nations and technological advancements for workflow optimization fuel the demand for advanced analytical systems, rising research & development activities to minimize weight, drag, and fuel consumption of aircraft, availability of massive amount of data generated from sensors, rise in the number of aviation accidents, and increases in the number of airport connections within the respective countries and reductions in fares will boost the market for aircraft health monitoring market.
Lack of management and scarcity of trained professionals can hamper the growth of aircraft health monitoring market.
In terms of Aircraft Type, Commercial aircraft segment shares the largest market during the forecast period. The strong global growth of both passenger and freight, increasing commercial aircrafts production, increasing demand for lightweight fairings, rising passenger footfall and cargo traffic, the rise in disposable income of the middle-class population and Commercial aviation companies invest in technologically-advanced aircraft to facilitate effective use of them will boost the demand for aircraft health monitoring market.
In terms of Installation, an On-board segment is projected to grow at fastest during the forecast period. The onboard segment is increased in demand for highly connected aircraft systems, many of todayâ€™s new aircraft fly with a central server on board, while the technology exists that allows maintenance troubleshooting traditionally performed on-board and With the computers doing more and humans needing to do less on-board will create more opportunity in aircraft health monitoring market.
Among region, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Emerging economies and owing to a low adoption base and developing aerospace infrastructure, Commercial airlines in the region are procuring aircraft in large numbers to meet the rising demand for air travel around the globe, increased flight frequency along with rising preference of air travel, the region rapid changes in regulations to make aviation more advancing on the technology front and Government organizations of numerous countries have introduced a number of initiatives to support and promote prominent players to establish commercial aircraft manufacturing facilities and can lead to better market expansion in aircraft health monitoring market.
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Accellent Technologies, BeanAir, Boeing, Airbus, United Technologies Corporation, General Electric, GE Aviation, RSL Electronics, Ultra Electronics Holdings, Honeywell, Rockwell Collins, Rolls Royce, Infosys, ASTYANAX, Safran, FLYHT, Curtiss-Wright, Esterline, Meggitt, GoGo, Inmarsat, and SITA.
Scope of the Global Aircraft Health Monitoring Market:
Global Aircraft Health Monitoring Market: By Aircraft Type
Global Aircraft Health Monitoring Market: By Operation Time
Global Aircraft Health Monitoring Market: By Installation
Global Aircraft Health Monitoring Market: By Solution
Global Aircraft Health Monitoring Market: By Region
Middle East & Africa
Key Player analysed in Global Aircraft Health Monitoring Market:
United Technologies Corporation
Ultra Electronics Holdings