What is Aircraft Health Monitoring System (AHMS) Market?
With the rising demand for air travel owing to rising passenger traffic, the need for aircraft health performance is also increasing to avoid unusual aircraft parts failures due to lack of monitoring. Rising global aircraft production & fleet, rising demand for aircraft onboard health monitoring to ensure the safety of aircraft & passengers are some of the major drivers aiding into the growth for aircraft health monitoring systems market.
Highlights from Aircraft Health Monitoring System (AHMS) Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Airbus S.A.S. (France), AFI KLM E&M (Chile), Collins Aerospace (United States), FLYHT Aerospace Solutions Ltd. (Canada), GE (United States), Honeywell International Inc. (United States), Lufthansa Technik (Germany), Meggitt SA (Switzerland), Rolls-Royce plc (United Kingdom), Safran (France) and Boeing (United States) |
The vendors in this market are majorly focusing on the development of new and innovative products and services to remain competitive in the industry. For instance, in November 2019, General Electric Aviation and Bombardier Aerospace announced that they have entered into a strategic partnership for the development of a new health monitoring unit, the Smart Link Plus, as a free upgrade for 2,500 Challenger and Business Jets which both in-service and in-production. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Health Monitoring System (AHMS) market throughout the forecasted period.
Airbus S.A.S. (France), AFI KLM E&M (Chile), Collins Aerospace (United States), FLYHT Aerospace Solutions Ltd. (Canada), GE (United States), Honeywell International Inc. (United States), Lufthansa Technik (Germany), Meggitt SA (Switzerland), Rolls-Royce plc (United Kingdom), Safran (France) and Boeing (United States) are some of the key players profiled in the study. Aircraft Health Monitoring System (AHMS) Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Aero-Propulsion System, Airframe, Ancillary System, Control and Actuation System and Others |
IVHM Technology | Adaptive Control,Detection,Diagnostics,Prognostics,Others |
Installation | On-Board,On-Ground |
End Users | OEMs,Aftermarket |
Operation | Real-Time,Non-Real-Time |
Component | Hardware,Software,Services |
Aircraft | Commercial {Narrow-Body, Wide-Body, Very Large},Military,Regional Aircraft,General Aviation,Helicopters |
On the basis of geography, the market of Aircraft Health Monitoring System (AHMS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing Awareness to Reduce the Schedules Flight Grounding Time and Retain the Anticipated Scheduled Maintenance
Market Growth Drivers:
Rising Global Aircraft Production and Fleet, Growing Demand for Real-Time Management of Aircraft Events and Troubleshooting and Growing Demand to Reduce the Operational Costs of an Aircraft Flight
Challenges:
Compliance With Stringent Aviation Regulations
Restraints:
Cyber Security Risks
Opportunities:
More than 38,000 New Commercial Aircraft are Expected to be Delivered During the Next 20 Years which will Create Huge Opportunities for the Market Vendors to Gain the Market Share in the Near Future
Key Target Audience
Aircraft Health Monitoring Hardware Manufacturers, Aircraft Health Monitoring Software Developers, Aircraft Health Monitoring Service Providers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations
Market Leaders & Development Strategies
In June 2019, Airbus and AFI KLM E&M announced a strategic partnership for the development of virtual engine PC-based training solution applicable to all types of A320 engines which will use high-definition immersive 3D simulation an will be based on in-service aircraft maintenance procedures
In January 2020, Safran announced that it has launched new health monitoring service upgrades to its previously launched services which now also includes daily health indicators, addition to the monthly recommendations, full automation of engine performance trend follow up, and a brand new user-friendly online interface
Analyst Comment
The industry vendors are trying to collaborate or partner with technology providers to develop innovative solutions due to growing digitisation and automation in the industry in order to help the aircraft manufacturers to innovate their aircraft products. For instance, in 2017, GE Aviation and AT&T announced a strategic partnership in order to develop IoT-based aircraft health monitoring solutions.