Commercial Aircraft Health Monitoring Systems Market Size was valued at USD 2.7 billion in 2022. The Commercial Aircraft Health Monitoring Systems market is projected to grow from USD 4.05 Billion in 2023 to USD 11.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2030). The increasing use of electric aircraft and the need for next-generation aircraft carriers are the key market drivers enhancing the growth of Commercial Aircraft Health Monitoring Systems.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The demand for next-generation aircraft carriers, such as the 787, 777X, A320 neo, A350, and A350, is expected to rise throughout the forecast period, driving the Commercial Aircraft Health Monitoring Systems market. Because many customers choose shorter flights, the domestic aviation industry has the strongest market share. The worldwide passenger traffic is anticipated to increase by an average of 4% year up to 2040, according to Boeing's Market Outlook 2020. The aviation sector is expanding due to the rising air passenger traffic on local and international lines caused by the availability of cheap flights worldwide. Government agencies and airline firms place the utmost importance on passenger safety and security. Several airlines and MRO businesses are widely using integrated real-time monitoring systems for different aircraft components, such as engine parts, hydraulics, landing gears, and other flight systems. The size of the worldwide commercial fleet is predicted to reach 48,400 units by 2039, according to Boeing's Market Outlook 2020. Single-aisle aircraft, like the 737MAX, are anticipated to make up a sizable portion of the commercial fleet.
It is anticipated that technological advancements will significantly influence the implementation of Commercial Aircraft Health Monitoring Systems. Due to growing fuel prices and significant carbon emissions from airplanes, the aviation industry is moving towards deploying more electric aircraft carriers. There is intense demand for aircraft manufacturers, system suppliers, and OEM firms to lower the overall weight of aviation systems, components, and parts. Long-distance flights need less fuel because of the lighter aircraft. Due to the use of electric circuits, more electric aviation systems are lighter than conventional systems, such as hydraulic and pneumatic systems. Also, they lighten the system, contributing significantly to their high demand because carriers worldwide can operate and maintain them for less money. To extend the lifespan of these electric-based systems, precise real-time serviceability monitoring through AHM systems is required. Thus, driving the Commercial Aircraft, Windows and Windshield market revenue.
The Commercial Aircraft Health Monitoring Systems market segmentation, based on IVHM Technology, includes Prognostic, Diagnostic, CBM & Adaptive Control. The prognostic segment dominated the market. Due to growing awareness regarding aviation safety, the prognostic systems category held the biggest revenue share in the Commercial Aircraft Health Monitoring Systems market in 2022. Predictive systems can detect possible issues before they arise, enabling proactive maintenance and lowering the likelihood of equipment failure while an aircraft is in flight, which can increase operational safety. This technology tracks an aircraft's health and forecasts when maintenance will be necessary using cutting-edge data analysis techniques like artificial intelligence (A.I.) and machine learning (ML), which also enables more precise and thorough information on an aircraft's state.
Based on Subsystem, the Commercial Aircraft Health Monitoring Systems market segmentation includes Aero-Propulsion, Aircraft Structure, Avionics & Others. The Aero-Propulsion category generated the most income. In 20122, the aero-propulsion system market category retained a commanding market share. The dominance results from propulsion being the most crucial engine system function, which requires real-time monitoring by numerous operators. The lives of the passengers are in danger in the event of a propulsion system failure. As a result, various sensors and networks must continually monitor the engine subsystem.
The Commercial Aircraft Health Monitoring Systems market data has been bifurcated by fit into Retrofit and line-fit. The Retrofit segment dominated the Commercial Aircraft Health Monitoring Systems market in 2022 and is projected to be the fastest-growing segment from 2022 to 2030. It is frequently less expensive to retrofit older aircraft with health monitoring systems than to install comparable systems on a new aircraft. This is because it can be a simple redesign and testing of aircraft systems. The need to refit current airplanes with health monitoring systems to increase their safety and effectiveness is growing as the world's fleet of aircraft ages. Also, to increase the safety and effectiveness of aircraft operations, governments in various nations require aviation health monitoring systems, which is propelling this segment's revenue development.
Figure 1: Commercial Aircraft Health Monitoring Systems Market, by Fit, 2022 & 2030 (USD billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The Commercial Aircraft Health Monitoring Systems market data has been bifurcated by aircraft type into Fixed Wing Aircraft and Helicopters. The Fixed Wing Aircraft segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The Fixed Wing Aircraft Platform category generated the most income. The demand for fixed-wing aircraft will increase as auxiliary power supply technologies become more dependable and effective.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Commercial Aircraft Health Monitoring Systems market area will dominate this market. Due to the growing demand for commercial aircraft in this area, particularly in the U.S. and Canada, the North American market held the major revenue share in the worldwide Commercial Aircraft Health Monitoring Systems market in 2022. The Region's expanding aerospace and aviation industries also fuel the market's revenue growth. In 2022, commercial aviation will contribute almost 1.25 trillion USD, or 5%, of the country's GDP. Around 80 countries were served by 28,000 daily flights operated by American Airlines, connecting 2.5 million people and moving more than 58,000 tonnes of cargo. Moreover, rising commercial aircraft development is anticipated to fuel Commercial Aircraft Health Monitoring Systems market revenue growth in the United States.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: COMMERCIAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Commercial Aircraft Health Monitoring Systems market share the second highest growth during the forecast period. This is because more nations in this area, particularly the UK, Germany, Italy, and France, are adopting aircraft health monitoring in the commercial aviation industry. According to Eurostat, the number of flights in the European Union transporting people, goods, and mail grew by 25% between August 2021 and August 2022. There were over 597,000 commercial flights in August 2022. In response to Russia's invasion of Ukraine, the German government announced in March 2022 that it would purchase up to 35 F-35 fighter jets made in the United States and 15 Eurofighter jets. This announcement is anticipated to increase demand for aircraft health monitoring and propel market revenue growth. Further, the Germany Commercial Aircraft Health Monitoring Systems market and the U.K. held the largest market share. The Commercial Aircraft Health Monitoring Systems market was the fastest-growing market in the European Region.
The Asia Pacific Commercial Aircraft Health Monitoring Systems market is anticipated to have a considerably rapid revenue growth rate throughout the projected period. This results from the aviation sector's expanding expansion and the Region's growing awareness of airplane safety, particularly in China, Japan, and India. China's aviation sector has expanded significantly in recent years. Chinese businesses like COMAC and AVIC have achieved considerable advancements in manufacturing commercial and military aircraft thanks to the government of China's significant investments in the industry's growth. At the end of 2020, China's civilian fleet comprised 6,795 aircraft, and its licensed pilot population stood at close to 69,500. The number of domestic flight routes in China will increase to 4,686 in 2020 due to the government's use of the home market to revitalize the country's civil aviation sector. In recent times, some Indian airlines have also used health monitoring systems. For instance, the Indian airline IndiGo began utilizing Skywise Health Monitoring (SHM) in March 2022 to enhance its upcoming fleet's efficiency. Moreover, the China Commercial Aircraft Health Monitoring Systems market held the largest market share. The India Commercial Aircraft Health Monitoring Systems market was the fastest-growing market in the Asia-Pacific region.
Leading industry companies are making significant investments in R&D to broaden their product offerings, which will spur further expansion of the market for Commercial Aircraft Health Monitoring Systems products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Commercial Aircraft Health Monitoring Systems industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.
One of the primary business strategies manufacturers employ in the worldwide Commercial Aircraft Health Monitoring Systems industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. Some of the biggest medical benefits in recent years have come from the Commercial Aircraft Health Monitoring Systems industry. Major Commercial Aircraft Health Monitoring Systems market players, including General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., and others, are attempting to increase market demand by investing in research and development operations.
A Canadian maker of commercial aircraft is Bombardier Inc. Joseph-Armand Bombardier established the business in 1942 to promote his snowmobiles. The business expanded into commercial manufacturing aircraft and public vehicles in the 1970s and 1980s, becoming an international conglomerate. To facilitate a more streamlined procedure for obtaining and sharing flight data between aircraft systems and maintenance technicians, Bombardier announced that its authorized service centers are prepared to begin free modifications of Challenger 300s and 350s already in operation in May 2021. These modifications will include the installation of a health monitoring unit.
General Electric subsidiary G.E. Aviation has its corporate headquarters in Evendale, Ohio, just outside Cincinnati. Most commercial aircraft may use engines from G.E. Aviation, one of the main manufacturers of aviation engines. Bell Textron Inc., a division of Textron Inc., selected G.E. Aviation, a division of General Electric, in June 2020 to supply the Aircraft Health Awareness System that will be installed in the Bell 360 Invictus prototype, a part of the Future Attack Reconnaissance Aircraft (FARA) program of the U.S. Army.
Key Companies in the Commercial Aircraft Health Monitoring Systems market include
Commercial Aircraft Health Monitoring Systems IVHM Technology Outlook
Commercial Aircraft Health Monitoring Systems Subsystem Outlook
Commercial Aircraft Health Monitoring Systems Fit Outlook
Commercial Aircraft Health Monitoring Systems Aircraft Type Outlook
Commercial Aircraft Health Monitoring Systems Regional Outlook
| Market Size 2022 | USD 2.7 billion |
| Market Size 2023 | USD 4.05 billion |
| Market Size 2030 | USD 11.5 billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | IVHM Technology, Subsystem, Fit, Aircraft Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Airbus (France), Boeing (U.S.), Bombardier (Canada), Embraer (Brazil), Gulfstream (U.S.), Acellent Technologies, Inc. (U.S.), BeanAir (Germany), Curtiss-Wright Corporation (U.S.), FLYHT Aerospace Solutions Ltd. (Canada), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Meggitt PLC (U.K.), Rolls-Royce plc (U.K.), RSL Electronics Ltd. (Israel), Safran S.A. (France), and United Technologies Corporation (U.S.) |
| Key Market Opportunities | Technology innovations for storing health monitoring data in the cloud |
| Key Market Dynamics | Using predictive maintenance on the active fleet can cut down on maintenance expenditures. |
Commercial Aircraft Health Monitoring Systems Market Highlights:
Frequently Asked Questions (FAQ) :
The Commercial Aircraft Health Monitoring Systems market size was valued at USD 2.7 Billion in 2022.
The Commercial Aircraft Health Monitoring Systems market is projected to grow at a CAGR of 6.00% during the forecast period, 2023-2030.
North America had the largest share in the Commercial Aircraft Health Monitoring Systems market.
The key players in the Commercial Aircraft Health Monitoring Systems market are Airbus (France), Boeing (U.S.), Bombardier (Canada), Embraer (Brazil), Gulfstream (U.S.), Acellent Technologies, Inc. (U.S.), BeanAir (Germany), Curtiss-Wright Corporation (U.S.), FLYHT Aerospace Solutions Ltd. (Canada), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Meggitt PLC (U.K.), Rolls-Royce plc (U.K.), RSL Electronics Ltd. (Israel), Safran S.A. (France), and United Technologies Corporation (U.S.).
The prognostic category dominated the Commercial Aircraft Health Monitoring Systems market in 2022.
The Retrofit had the largest share in the Commercial Aircraft Health Monitoring Systems market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
