ReportID: AVI241 |
Coverage: GLOBAL |
Category: Aerospace & Defence | Sub-Category: Aviation |
Published in: March 2022 | US $4250 |
DataCube Research offers market analysis, trends, future outlook, market size, and forecast for Commercial Aircraft Health Monitoring Market in its report titled “Commercial Aircraft Health Monitoring Systems Market: Global Industry Analysis, Size, and Forecast, 2019-2031".
Currently, these are vigour time for the commercial aviation industry and other players in the ecosystem that are offering aircraft health monitoring services. Constrained fuel prices and operational efficiencies have enabled the industry to stay profitable in three consecutive years. Further, increasing demand for air transport and travel across the globe is keeping production lines at aircraft component manufacturers busy and setting records. Furthermore, delayed retirements of older jets owing to lower oil price and willingness of airlines to spend on upkeep have increased the need for additional servicing, which in turn, has created significant market opportunities for key vendors. In addition, despite recent rising global tensions and political instability, aviation seems headed for more of the same.
Browse Full Report: Commercial Aircraft Health Monitoring Systems Market | Analysis 2019-2031
Rise in disposable personal income, expansion in the middle-class population, and increase in the gross domestic product (GDP) across developed and emerging economies have generated an unprecedented global demand for cargo transport and air passenger travel. However, the emergence of COVID-19 in late 2019, has adversely affected the aviation industry. For instance, major countries in the Asia Pacific region such as Australia, China, Japan, Malaysia, Singapore, South Korea, Thailand, and Vietnam are expected to witness around XX% decline in the number of air passengers in near future due to the pandemic.
The commercial aircraft health monitoring systems market has been segmented on the basis of aircraft type, fit, systems, IVHM technology, and region.
By aircraft type, the commercial aircraft systems market has been segmented into the wide body, narrow body, and region jet. In 2021, the narrow segment dominated the overall commercial aircraft health monitoring systems market but is projected to lose its dominance to other segments by the end of 2031.
Based on fit, the market is segmented into line fit and retro fit. The line fit segment dominated the market with an overall XX% share of the overall market revenue. Further, the segment is projected to continue its dominance throughout the forecast period.
IVHM technologies include diagnostics, prognostics, and condition-based maintenance and adaptive control segments. In terms of revenue growth, the condition-based maintenance and adaptive control segment are projected to expand at the highest CAGR during the forecast period.
Systems include aero-propulsion, avionics, aircraft structures, and ancillary systems. In 2021, the aero-propulsion dominated the market followed by aircraft structures segment.
Region wise, the commercial aircraft health monitoring systems market has been segmented into North America, Western Europe, Latin America, Asia Pacific, Eastern Europe, and the Middle East and Africa (MEA). In terms of spending on commercial aircraft health monitoring solutions and services, Asia Pacific dominated the commercial aircraft health monitoring systems market with over XX% share in 2021.
Some of the key vendors analyzed in commercial aircraft health monitoring systems market are Airbus Group, Alsalam Aircraft Company, CFM International Incorporated, Chromalloy Gas Turbine LLC, Astronics Corp., Boeing Company, GE Company, Honeywell International Inc., Denel (Proprietary) Limited, Eaton Corporation, Jet Aviation Ag, Messier Bugatti Dowty, Leonardo SpA, Meggitt PLC, Moog, Inc., MTU Aero Engines AG, Mitsubishi Heavy Industries, Ltd., Pratt & Whitney Canada Cie, RSL Electronics Ltd., Sabena Aerospace Engineering Sa, Rockwell Collins Inc., Rolls-Royce PLC, Safran SA, Senior Plc, United Technologies Corporation, SIA Engineering Co. Ltd., and Ultra Electronics Holdings PLC.