Aircraft Health Monitoring System Market Size By Platform (Narrow Body Aircraft, Wide Body Aircraft, Regional Aircraft, Business Jet, Helicopter, Fighter Jet), By Fit (Line Fit, Retro Fit), By System (Hardware, Software, Services), By Operation (Real Time Operation, No Real Time Operation) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026

Published Date: Jun 2020  |  Report ID: GMI4748  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 250   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Aircraft Health Monitoring System Market size surpassed USD 4 billion in 2019 and is estimated to grow at a CAGR of over 6% between 2020 and 2026. The market growth is driven by rapid adoption of comprehensive health monitoring systems in the aviation industry.
 

Major developed countries with huge military troops are allocating budget toward design and development of comprehensive aircraft health monitoring systems capable of managing a range of aircraft along with keeping records of their spare parts and MRO. Such fund allocations are generating significant market opportunities.
 

Aircraft Health Monitoring System Market

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Companies operating in the market are engaged in development of various software including Skywise and Commercially Augmented Space Inter Networked Operations (CASINO) capable of integrating with range of hardware including sensors and radars. User friendly & easy integration of these software into various devices to promote transparency is one of the primary objectives of these companies.
 

The aircraft health monitoring system market will experience moderate dip in 2020 due to the outbreak of COVID-19 pandemic. Global trade & travel limitation, closure of manufacturing, and research & development facilities are the major reasons limiting the market growth. The line fit segment will experience accelerated growth rate after the conclusion of COVID-19 pandemic to cater to urgent demand in the shipping industry.
 

Aircraft Health Monitoring System Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 4 Billion (2019)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6% 2026 Value Projection: USD 6 Billion (2026)
Pages: 250 Tables, Charts & Figures: 303
Geographies covered (19): U.S., Canada, France, UK, Russia, Germany, Turkey, Italy, China, India, Japan, South Korea, Australia, Brazil, Mexico, Israel, Saudi Arabia, UAE, South Africa
Segments covered: By System, By Operation, By Platform, By Fit and Region
Companies covered (15): Airbus, Boeing, United Technologies Corporation, Honeywell International, General Electric, Rockwell Collins, Meggitt, Rolls-Royce, Flyht, Curtiss-Wright, Safran, Air France Klm Engineering & Maintenance, Lufthansa Technik, Esterline, Embraer
Growth Drivers:
  • Rising air traffic across the globe
  • Increasing aircraft deliveries
  • Shift in customer trend towards outsourcing MRO activities
  • Establishment of new government regulations towards increasing airworthiness
  • Increasing green field and brown field investment in aviation sector
Pitfalls & Challenges:
  • Cyber security threats
  • Lack of real time data to perform R&D experiments

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Increasing number of HNWI to support the market growth of business jet segment

The business jet segment is poised to witness growth of more than 6% through 2026 impelled by increasing number of High Net Worth Individuals (HNWI) and Ultra HNWI across the globe. These individuals often prefer business jets to reduce time of their commutation. The total number of UHNWI in the U.S. accounted for approximately 240,575, which is more than combined UHNWI population of Asia and Europe.
 

Changing trend toward aircraft maintenance by UHNWI to outsource long-term contracts for MRO will influence the aircraft health monitoring system market revenue. Instead of personally looking after upgrades and MRO activities of aircraft, business jet owners are outsourcing these activities to eliminate unexpected financial load and ensure airworthiness of their jets at any given point of time.
 

Rising backlog orders and increasing production capabilities of commercial aircraft will drive the demand for line fit segment

Europe Aircraft Health Monitoring System Market By Fit

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The Europe line fit segment in the market will capture around USD 800 million revenue in 2019 and is predicted to expand at over 5% CAGR from 2020 to 2026. The growth can be credited to increasing efforts of major aircraft manufacturers present in the region to increase their production capacities and reduce backlog orders.
 

Skilled labor at economical cost is supporting the hardware segment in Asia Pacific market

Asia Pacific Aircraft Health Monitoring System Market By System

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The hardware segment in the Asia Pacific aircraft health monitoring system market will register a growth rate of more than 7% till 2026. The growth is attributed to efforts taken by global industry players to establish their manufacturing MRO units within Asia Pacific. Most of the Low-Cost Carrier (LCC) airlines operate from this region, fueling the market growth.
 

Maturing technologies in non-real time operations will propel the market demand

North America Aircraft Health Monitoring System Market By Operation

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In North America aircraft health monitoring system market, the non-real time operations segment is expected to generate a revenue of around USD 1 billion by 2026. This market penetration is owing to efforts taken by major information technology companies to develop comprehensive aircraft health monitoring systems. Major MRO service providers, such as Lufthansa Technik and L&T, have launched their own software for operations, whereas Microsoft and Google are collaborating with aircraft manufacturers to develop an elaborative software to streamline operations.
 

Regulatory reforms in Europe to increase growth opportunities for the aircraft health monitoring system market

Global Aircraft Health Monitoring System Market Share

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The Europe market valuation crossed USD 1 billion in 2019 and is anticipated to observe around 5% gains during the forecast timeframe. The market growth can be attributed to efforts taken by the European Union to improve airworthiness of aircraft operating within confined airspace through establishment of a comprehensive data sharing network. Implementation of various regulations focusing on improving data sharing between aircraft and ground stations will boost the market revenue.
 

Long-term IDIQ contracts to define future the market opportunities within the defense vertical

Major players in the aircraft health monitoring system market are Airbus, Boeing, United Technologies Corporation, Honeywell International, General Electric, Rockwell Collins, Meggitt, Rolls-Royce, Flyht, Curtiss-Wright, Safran, Air France Klm Engineering & Maintenance, Lufthansa Technik, Esterline, and Embraer.
 

Long-term Indefinite Delivery Indefinite Quantity (IDIQ) contract to upgrade the existing system is the primary market strategy practiced by various industry players within defense vertical. This strategy allows the company to secure its market share within the coming years. For instance, in July 2019, Northrop Grumman received an IDIQ contract worth USD 104 million from the U.S. navy. The company will be responsible for manufacturing, delivery, and retrofitting of mission computer systems to UH-1Y, AH-1Z, and UH-60V aircraft. The contract will conclude by 2023.
 

The aircraft health monitoring system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2026 for the following segments:
 

Market by Platform, 2017 - 2026 (USD Million)

  • Narrow Body Aircraft
  • Wide Body Aircraft
  • Regional Aircraft
  • Business Jet
  • Helicopter
  • Fighter Jet

Market by Fit, 2017 - 2026 (USD Million)

  • Line fit
  • Retro fit

Market by System, 2017 - 2026 (USD Million)

  • Hardware
  • Software
  • Services

Market by Operation, 2017 - 2026 (USD Million)

  • Real time operation
  • No real time operation

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • UK
    • Germany
    • Turkey
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Israel
    • Saudi Arabia
    • UAE
    • South Africa
       

Frequently Asked Questions (FAQ) :

According to the analysts at GMI, the Europe market valuation crossed USD 1 billion in 2019 and is anticipated to observe around 5% gains during the forecast timeframe.
The business jet segment is poised to witness growth of more than 6% through 2026, impelled by increasing number of High Net Worth Individuals (HNWI) and Ultra HNWI across the globe.
Major players in the market are Airbus, Boeing, United Technologies Corporation, Honeywell International, General Electric, Rockwell Collins, Meggitt, Rolls-Royce, Flyht, Curtiss-Wright, Safran, Air France Klm Engineering & Maintenance, Lufthansa Technik, Esterline, and Embraer.
The line fit segment will experience accelerated growth rate after the conclusion of COVID-19 pandemic to cater to urgent demand from the shipping industry.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 250
  • Tables: 280
  • Charts / Figures: 23
  • Companies covered: 15
  • Countries covered: 19

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