Aircraft Health Monitoring System Market Growth Rate Analysis 2020 to 2026


The Aircraft Health Monitoring System Market is predicted to gain noteworthy growth on account of evolving federal norms that are centered around improving the airworthiness of aircraft. Airworthiness can usually be enhanced by strengthening connectivity between ground and aircraft operators. Rising adoption of connected technologies in aircraft has stimulated the deployment of aircraft health monitoring system.
Numerous display and communication technologies like Virtual Reality (VR) and Augmented Reality (AR) are currently being incorporated in the aerospace sector. Meanwhile, concerns to lower SOx and COx emissions have compelled aircraft makers to improve the operational efficiency of airplane. Technological advancement in blockchains and cloud computing could enhance operations in the aviation industry. Based on these growth drivers, Global Market Insights, Inc., estimates that the aircraft health monitoring system market size might reach USD 6 billion by the year 2026.
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In terms of platform, the industry is bifurcated into wide body aircraft, narrow body aircraft, business jet, regional aircraft, fighter jet, and helicopter. Out of these, the narrow body aircraft is expected to account for almost USD 2 billion by the end of 2026. This growth can be attributed to the surging number of inflight passengers across emerging economies due to increase in disposable income.

The advent of the Low-Cost Carrier (LCC) model to lower airfares could play a crucial role in fueling the product demand. As per the LCC model, a narrow body airplane with nominal inflight facilities would handle all domestic routes. Prominent airline companies are concentrating their efforts on expanding their fleets of narrow body aircraft to satisfy the growing demand for LCC operations.

Taking October 2019 for instance, India’s low-fare airline, Indigo placed an order of 300 Airbus airliners that consisted of a mix of A320neo, A321XLR, and A321neo. Apparently, this contract was valued at almost USD 33 billion, allowing Indigo to expand its presence in international and domestic markets.

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Growing inclination towards retrofitting could massively boost the demand for aircraft health monitoring systems. Estimates suggest that the retro fit segment is likely to register almost 7% CAGR by 2026. Governments across the world have laid significant emphasis on retrofitting ADS-B in new airplanes. In January 2020, FAA made ADS-B compulsory for all the airliners operating in the FAA’s jurisdiction.

Companies operating in the aircraft health monitoring system industry are primarily indulging in long-term service contracts and partnership agreements to get their hands on the latest technologies. These strategies enable industry players to expand their geographical presence and market share.
Citing an instance, recently in June 2020, GE Aviation joined forces with Bell Textron Inc., a division of Textron Inc., to deliver health awareness system for the Bell 360 Invictus competitive prototype, a section of the Future Attack Reconnaissance Aircraft (FARA) initiative of the U.S. Army.

Browse key industry insights spread across 250 pages with 280 market data tables and 23 figures & charts from the report, Aircraft Health Monitoring System Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aircraft-health-monitoring-system-market
Report Content
Chapter 3. Aircraft Health Monitoring System Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2015 – 2026

3.4. Impact of COVID-19

3.4.1. North America

3.4.2. Europe

3.4.3. Asia Pacific

3.4.4. Latin America

3.4.5. MEA

3.5. Evolution of aircraft health monitoring system

3.6. Industry ecosystem analysis

3.7. Technology & innovation landscape

3.8. Regulatory landscape

3.8.1. North America

3.8.2. Europe

3.8.3. APAC

3.8.4. LATAM

3.8.5. MEA

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.1.1.   Rising air traffic across the globe

3.9.1.2.   Increasing aircraft deliveries

3.9.1.3.   Shift in customer trend towards outsourcing MRO activities

3.9.1.4.   Establishment of new government regulations towards increasing airworthiness

   3.9.1.5.   Increasing green field and brown field investment in aviation sector

3.9.2. Industry pitfalls & challenges

3.9.2.1.    Cyber security threats

3.9.2.2.    Lack of real time data to perform R&D experiments

3.10.    Growth potential analysis

3.11.    Porter's analysis

3.12.    PESTEL analysis

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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