According to a new market research report "Commercial Aircraft Health Monitoring Systems Market by Aircraft Type (VLA, WBA, NBA, RTA, Rotary-Wing Aircraft), IVHM Technology (Prognostics, Diagnostics, CBM & Adaptive Control), Sub-System (Aeropropulsion, Aerostructures, Avionics, & Ancillary), & by Geography (North America, Europe, APAC, & Row) Global Forecasts & Analysis (2014-2020)", the global commercial aircraft health monitoring systems market is estimated to be at $2,253.01 Million in 2014 and is expected to reach $3,337.67 Million by 2020, to register a CAGR of 6.77%.
Browse 92 tables, 70 figures spread through 225 pages and in-depth TOC on "Commercial Aircraft Health Monitoring Systems Market".
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Aircraft health monitoring systems (AHMS) help to effectively assess actual damage events, in real-time. The structural health monitoring of an aircraft is a mature concept and is one of the key enabling technologies used to ensure the integrity of an aircraft. The implementation of the AHMS is expected to revolutionize the current, design practices and processes.
Commercial aviation organizations invest in technological assets to deliver a certain type of capability and expect to make effective use of them, as per their requirements. Moreover, they are constantly seeking ways to reduce and minimize operational costs such as unscheduled aircraft maintenance to improve the efficiency of the equipment.
This report segments the multi-function display market on the basis of IVHM technology, sub-systems, aircraft type, and region. Furthermore, it contains revenue forecasts and analyses technological trends that are predominant in this market. The geographical analysis contains an in-depth classification which includes the Americas, Europe, APAC, the Middle East, and ROW, thus, encompassing the major countries that cover the respective markets. The sections and sub-segments in the report would contain drivers, restraints, opportunities, challenges, and current market trends that are expected to revolutionize the commercial aircraft health monitoring systems market.
There is a bullish trend towards the IVHM technology adopted by the market leaders, in this market. The single-aisle aircraft segment is expected to witness a rapid growth, during the forecast period. North America is expected to witness a slight decline in the market share, during the forecast period, due to low aircraft deliveries, compared to other regions. China, India, Brazil, the UAE, and Saudi Arabia are identified as key countries for demand analysis in this market.
The engineering design models deployed are expected to be crucial to this market, as the efficiency of the AHMS system, would be determined by them. Increase in aircraft deliveries, asset utilization, and enhanced safety are identified as the major drivers in this market. Delays in certification clearances, lack of expertize, long product lifecycles, and environmental parameters are the major restraints in this market. Installation of sensors, standardization, data bus limitations, and keeping the system responsive are the major challenges, the market needs to address, during the forecast period. The key challenge resides in finding an appropriate combination of diagnostic and prognostic tools which can fulfill the requirements of aircraft operators. A combination of passive and active systems with redundancy may exacerbate some of the challenges faced by this market. Considerable investment and the fact that a lot of tools deployed for the AHMS are still, in R&D phase may present a substantial risk, for the investors in this market.
The aircraft health monitoring systems market presents an opportunity for the airline industry to reduce operating costs by ensuring safety for its customers. Manufacturers need to seize this opportunity to reap the potential benefits. The market is expected to witness advances, in the methods of monitoring such as vibration based monitoring, monitoring through fiber-optic sensors, and wave propagation methods.
The market has become quite competitive with the presence of key players such as Boeing, Airbus, Rolls Royce, United Technologies (Pratt & Whitney), Honeywell International, and Meggitt. Emerging players in this market such as Ultra Electronics Holdings, RSL Electronics, and Accellent technologies have consolidated their product offerings in this market. A competitive landscape with respect to the aforementioned players and their market share has also been provided in the report.
The AHMS will undoubtedly be beneficial from an economic perspective. The stakeholders of this market are looking to venture towards smart aircraft structures. Technological advancement in this market is an iterative process and advances in this field would certainly help the AHMS market grow, during the forecast period.
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