Aircraft Health Monitoring System (AHMS) Market to offer a healthy CAGR of 3.5% during 2019-24
February 18, 2020
Aircraft Health Monitoring System (AHMS) Market Overview:
Health monitoring systems are gaining momentum in the aircraft industry as all the major aircraft OEMs are increasingly incorporating these systems into their best-selling aircraft in order to enhance the flight safety as well as to reduce MRO cost. The aircraft health monitoring system market is one of the fastest-growing systems in the aircraft industry and is likely to grow at an above average growth rate of the overall aircraft industry (7.3% vs 3.5%) over the next five years.
Several factors are bolstering the demand for health monitoring systems in the aircraft industry. Some of which are rising demand for advanced aircraft monitoring systems to reduce the increasing aircraft accidents, increasing production rates of key aircraft programs, surging situational cognizance and cost-effective maintenance, increasing demand for connected aircraft solutions, and effective decision making due to the availability of real-time information. The inception of a structural health monitoring system, a paradigm shift from non-destructive testing, has paved the path for enhanced aircraft health monitoring systems.
Report Overview:
This new report from Stratview Research analyses the Aircraft Health Monitoring System (AHMS) Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Aircraft Health Monitoring System (AHMS) Market Segment Insights:
Dominance Of: Narrow- and Wide-body aircraft
Based on the aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, business jet, helicopter, and military aircraft. Narrow- and wide-body aircraft dominate the market and are estimated to remain the leading aircraft segments over the next five years as well. Increasing production rates of B737 and A320 including their fuel-efficient variants (A320neo and B737 max) coupled with the market entry of new players (COMAC and Irkut) are the major factors driving the overall narrow-body aircraft segment and so are the health monitoring systems for them. Similar to narrow-body aircraft, increasing production rates of B787 and A350XWB coupled with the introduction of fuel-efficient variants including B777x and A330neo are the major factors driving the demand for health monitoring systems in the wide-body aircraft segment.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/434/Aircraft-Health-Monitoring-System-Market.html
A highly/moderately/fragment consolidated Market
Some of the major players in the AHMS market are Airbus S.A.S., The Boeing Company, United Technologies Corporation, Honeywell International Inc., General Electric Company, Rockwell Collins, Inc., Meggitt PLC, Rolls-Royce Holdings PLC, Safran S.A., Air France Industries KLM Engineering & Maintenance, and Lufthansa Technik AG. These major players are likely to remain the most dominant ones over the next five years as well. Several efforts are being made by these players to remain competitive and to quickly gain more shares in the market. Some of which are a regional expansion, execution of mergers & acquisitions and joint ventures, and advancement in technologies.
Regional Hegemony of North America & the dominance of Onboard segment
In terms of regions, North America is expected to remain the largest market for aircraft health monitoring systems in the coming five years, whereas Asia-Pacific is likely to witness the highest growth during the same period. The USA is the growth engine of the North American market. Similarly, China, Japan, and India are the key sources of growth in the Asia-Pacific’s aircraft health monitoring system market. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region. This, in turn, will create a healthy demand for aircraft health monitoring systems in Asia-Pacific during the forecast period.
Based on the installation type, the AHMS market is segmented as onboard and on-the-ground. It is estimated that the onboard segment is likely to depict a higher growth during the forecast period, propelled by the installation of different health monitoring system components, such as sensors, communication systems, and flight data management systems, with an aim to provide an increased passenger safety and reduce MRO cost.
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