CHICAGO, March 8, 2021 /PRNewswire/ -- According to the new market research report "Aircraft Health Monitoring Market by Platform (Commercial, Business & General, Military Aviation), Installation (Onboard, On Ground), Fit (Linefit, Retrofit), End User, Solution, System, Operation Mode and Region - Global Forecast to 2025", published by MarketsandMarkets, the market size is projected to grow from an estimated USD 3.3 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 10.8% during the forecast period. This growth can be attributed to the increasing aircraft operational and flight safety activities.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=954
The MRO segment accounts for the largest market size during the forecast period
Based on end user, the aircraft health monitoring market has been segmented into MRO, OEMs and Airlines are considered in the aircraft health monitoring market. The MRO is estimated to be account for the largest share in the aircraft health monitoring market. Increase in aircraft modernization programs is one of the most significant factors driving the MRO segment in the aircraft health monitoring market.
The commercial aviation segment is projected to grow at the highest CAGR during the forecast period
Based on the platform, the aircraft health monitoring market has been segmented into commercial aviation, business and general aviation and military aviation. Commercial aviation will register the fastest growth in the aircraft health monitoring market owing to the high demand for health monitoring systems, solutions, and services. Airlines in the commercial sector are focused on implementing these solutions to reduce the operating costs of their air fleets, which will support the market growth over the projected timeframe.
Browse in-depth TOC on "Aircraft Health Monitoring Market"
400 - Tables
58 - Figures
331 - Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=954
The hardware segment accounts for the largest market size during the forecast period
Based on solution, the aircraft health monitoring market is segmented into hardware, software and services. the aircraft health monitoring market is estimated to be dominated by the hardware segment with a market share of highest market share in 2020. This growth can be attributed to increasing use of sensors in engines to analyze real-time condition data for preemptive detection of failures will drive aircraft health monitoring demand over the projected period.
"Asia Pacific is projected to grow at the highest CAGR during the forecast period."
Asia Pacific is projected to be the fastest-growing region in the aircraft health monitoring market during the forecast period, backed by significant development in air transport, The region is a diverse mix of countries and aviation requirements; it is projected that by 2038, it will witness the highest number of aircraft deliveries than any other region. The increase in aircraft deliveries will eventually lead to the growth of the aircraft health monitoring market. The increasing demand for aircraft models such as the A380, A350 XWB, B787 Dreamliner, B777, and other AHMS integrated aircraft models will support market demand in the region. Airbus and Boeing provide their own health monitoring systems, AiRTHM (Airbus Real-Time Health Monitoring) and AHM (Airplane Health Management), respectively. This, in turn, is expected to drive the aircraft health monitoring market in the Asia Pacific region.
Major players operating in the aircraft health monitoring market include Safran S.A.(France), Airbus S.A.S (Netherlands), Raytheon Technologies Corporation (US), Honeywell international Inc (US), Teledyne Technologies Inc (US), among others. These key players offer aircraft health monitoring across regions, and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, Middle East, African, and Latin American regions.
Related Reports:
Aircraft Sensors Market by Connectivity, Platform (UAV, EVTOL, Fixed, Rotary), Sensor (Pressure, Temperature, Speed, Proximity, Gyro) Application (Engine, Door, Environmental Control), End Use (OEM, Aftermarket), Region - Global Forecast to 2025
Flight Data Monitoring Market by Solution Type (On Board, On Ground), Component (FDM Service, FDM System, FDM Software), End User (Fleet Operators, Drone Operators, FDM Service Providers, Investigation Agencies), Region - Global Forecast to 2022
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/aircraft-health-monitoring-systems-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/aircraft-health-monitoring-systems.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
