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Base Year
Historical Year
Forecast Year
The global aircraft health monitoring market size reached approximately USD 5.33 billion in 2023. The market is estimated to grow at a CAGR of 7.3% in the forecast period of 2024-2032, reaching a value of around USD 10.05 billion by 2032.
Global Aircraft Health Monitoring Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 5.33 |
Market Size 2032 | USD Billion | 10.05 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 7.3% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 8.4% |
CAGR 2024-2032 - Market by Country | India | 6.6% |
CAGR 2024-2032 - Market by Country | China | 5.5% |
CAGR 2024-2032 - Market by Solution | Hardware | 8.2% |
CAGR 2024-2032 - Market by End User | OEM | 8.3% |
Market Share by Country 2023 | UK | 3.4% |
Aircraft health monitoring is a process that uses data collection, data analysis, and sensors to monitor the performance of an aircraft. It identifies potential failures and malfunctions and ensures the safety, operational efficiency, and reliability of flights.
Based on solution, the market is categorised into hardware, software, and services. On the basis of system, the market is divided into engine health monitoring, structural health monitoring, and component health monitoring. Based on platform, the market is bifurcated into civil and military. The aircraft health monitoring market segmentation, on the basis of operation mode, includes real-time and non-real-time.
Based on technology, the market is divided into diagnostic, prognostic, adaptive control, and prescriptive. On the basis of installation, the market is segmented into on board and on ground. Based on end user, the market is categorised into OEM, MRO, and airlines. The major regional markets of aircraft health monitoring are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
CAGR 2024-2032 - Market by | Country |
India | 6.6% |
China | 5.5% |
UK | 4.6% |
USA | 4.5% |
Italy | 3.5% |
Canada | XX% |
Germany | XX% |
France | XX% |
Japan | 3.4% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the aircraft health monitoring market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Prognostic occupies a significant portion of the aircraft health monitoring market share owing to the usage of predictive analytics and algorithms in this technology to detect any upcoming faults in components. It monitors potential issues in circuits, devices, equipment, and systems of aircraft and suggests required maintenance and optimisation to reduce the risk of system failure during flight. Furthermore, its ability to anticipate failures and issues before their actual occurrence saves maintenance and repair costs, resources, and flight delays and disruptions.
As per the aircraft health monitoring market analysis, the Asia Pacific accounts for a substantial share of the global market due to a rise in passenger traffic, leading to an increased manufacturing of aircraft. Furthermore, research and development efforts by regional players to enhance the performance of aircraft monitoring systems propel the market demand.
The expansion of maintenance and repair facilities in the region to reduce inspection time and facilitate the smooth functioning of aircraft also supports the market growth. Further, regulatory measures introduced by governments to ensure passenger safety during flights provide lucrative aircraft health monitoring market growth opportunities.
Honeywell International Inc. is a technology company, founded in 1906, and headquartered in North Carolina, the United States. The company provides aerospace, automation and productivity, advanced sensing technology, and safety products, among others.
RTX Corporation, established in 1920, is an aerospace and defence company, with its headquarters in Virginia, the United States. The company manufactures commercial and military aircraft engines, distribution systems, and flight systems, among others.
The Boeing Company, incorporated in 1916 and based in Virginia, the United States, is an aerospace company. It provides aeroplanes, rockets, satellites, telecommunications, and defence products, among others.
Other aircraft health monitoring market players include Airbus SAS, General Electric Company, Teledyne Technologies Incorporated, Meggitt PLC, Rolls-Royce PLC, Safran, and FLYHT Aerospace Solutions Ltd., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Solution |
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Breakup by System |
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Breakup by Platform |
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Breakup by Operation Mode |
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Breakup by Technology |
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Breakup by Installation |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the market reached an approximate value of USD 5.33 billion.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 10.05 billion by 2032.
The major market drivers are growth of the aviation sector and growing demand for enhancing the safety and operational efficiency of aircraft.
The key trends of the market include growing demand for advanced aircraft monitoring systems, adoption of electric aircraft, and technological advancements to improve the performance efficiency of aircraft.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various solutions are hardware, software, and services.
The key players in the market are Honeywell International Inc., RTX Corporation, The Boeing Company, Airbus SAS, General Electric Company, Teledyne Technologies Incorporated, Meggitt PLC, Rolls-Royce PLC, Safran, and FLYHT Aerospace Solutions Ltd., among others.
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