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Aircraft Health Monitoring System Market by Type (Commercial and Defense), Aircraft Type (Wide-body Aircraft, Narrow Body Aircraft, and Regional Jets), and Fit (Retro-fit and Line-fit) - Global Opportunity and Forecasts, 2017-2023

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Pages: 120
Jun 2017 | 2086 Views
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Author's : Pankaj Lanjudkar
Tables: 26
Charts: 49
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Aircraft Health Monitoring System Market Overview:

Aircraft Health Monitoring System Market was valued at $926 million in 2016, and is projected to reach $1,489 million by 2023, growing at a CAGR of 7.4% from 2017 to 2023.

Aircraft health monitoring system (AHMS) incorporates a comprehensive range of practices, tools, solutions, and techniques interrelated closely to a system of hardware and software, which performs remote monitoring of airplane data to understand its current or future serviceability and performance. This system makes use of massive amount of airplane data to deliver improved analytical output while optimizing safety for varied aircraft. Implementation of AHMS reduces maintenance & operational costs and improves overall safety of an aircraft.

Growth in aerospace IT expenditure among emerging nations and technological advancements for workflow optimization fuel the demand for advanced analytical systems, thereby driving the AHMS market growth. In addition, the market is driven by rise in demand for real-time fault management, high demand for performance monitoring, and increased need for custom alerting & analysis solutions. However, scarcity of trained professionals is expected to restrain the AHMS market growth during the forecast period. Furthermore, increased application areas for aircraft integrated vehicle health management (IVHM) are expected to create lucrative opportunities for aircraft health monitoring system market expansion.

Segment Overview

The global aircraft health monitoring system market is segmented based on type, aircraft type, fit, and geography. Commercial and defense are categorized as sub-segments of by type. Aircraft type includes wide-body aircraft, narrow body aircraft, and regional jets. Retro-fit and line-fit are covered under the fit segment. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Aircraft Health Monitoring System Market Segmentation:

Top Impacting Factors

The global aircraft health monitoring system market is influenced by several factors that include growth in demand for increased application areas among aerospace industry, growth associated with commercial aircraft market, scarcity of trained professionals, and impact of developing economies. All these factors collectively create opportunities for the AHMS market growth. However, each factor is expected to have its definite impact on the AHMS market share.

Top Impacting Factors

Impact of Developing Economies

Developing countries possess high potential for the aircraft health monitoring system market, owing to a low adoption base and developing aerospace infrastructure. Further, the need for cost-effective predictive solutions among commercial airline industry is expected to fuel the demand for these systems.

Increased application areas

Increase in automation, technology upgradation, minimization of operation costs, rise in demand for real-time fault management, and high demand for performance monitoring are expected to boost the market growth during the forecast period. The military departments, globally, continuously focus on reducing operation costs associated with the maintenance of defense aircraft along with increasing the need to enhance the safety standards, which leads to heavy investments to improve maintenance, repair and overhaul (MRO) services. Earlier, adoption of these services was largely among developed nations, but in the recent years, most of the emerging economies with high defense budgets, such as India and China, have started implementing AHM services.

Lack Of Skilled Workforce

At present, the impact of this factor on the market growth is high, which limits end users to invest into advanced solutions and services. However, by 2023, the impact is projected to decrease due to availability of skilled workforce.

Growth Associated With Commercial Aircraft Market

Government organizations of numerous countries have introduced a number of initiatives to support and promote prominent players to establish commercial aircraft manufacturing facilities, especially in emerging and developed regions. This is anticipated to provide new growth opportunities for local and international players operating in the commercial aircraft health monitoring market. The UK government has taken an initiative towards the development of commercial aircraft industry by partnering with The Boeing Company, and has invested around $447 million for aerospace R&D projects. The Indian government changed its strategies to attract new players in the aviation market, for which it allowed domestic private players in aerospace manufacturing and R&D with 100% FDI.

Key Benefits

  • The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global aircraft health monitoring system market.
  • Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
  • Current and future trends adopted by key market players are highlighted to determine overall competitiveness.
  • The quantitative analysis of the market through 2016‐2023 is provided to elaborate the market potential.

Aircraft Health Monitoring System Market Key Segments:

By Type

  • Commercial
  • Defense

By Aircraft Type

  • Wide-body Aircraft
  • Narrow Body Aircraft
  • Regional Jets

By Fit

  • Line-fit
  • Retro-fit

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Arica

Key players profiled in the report

  • Honeywell International Inc.
  • Rockwell Collins Inc.
  • Boeing Company
  • Ultra Electronics Holdings PLC
  • RSL Electronics Ltd.
  • United Technologies Corporation
  • General Electric Company
  • Meggitt PLC
  • Rolls-Royce PLC
  • Airbus Group
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. KEY MARKET SEGMENTATION
1.5. RESEARCH METHODOLOGY

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate-to-low bargaining power of suppliers
3.3.2. Moderate-to-low bargaining power of buyers
3.3.3. Moderate-to-high threat of substitutes
3.3.4. High threat of new entrants
3.3.5. Moderate-to-high competitive rivalry

3.4. KEY PLAYER POSITIONING, 2016 (%)
3.5. MARKET DYNAMICS

3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunity

Chapter: 4 AIRCRAFT HEALTH MONITORING SYSTEM MARKET BY TYPE

4.1. OVERVIEW
4.2. COMMERCIAL

4.2.1. Key Market Trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast ($Million)

4.3. DEFENCE

4.3.1. Key Market Trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast ($Million)

Chapter: 5 AIRCRAFT HEALTH MONITORING SYSTEM MARKET BY AIRCRAFT TYPE

5.1. OVERVIEW
5.2. WIDE-BODY AIRCRAFT

5.2.1. Key Market Trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast ($Million)

5.3. NARROW-BODY AIRCRAFT

5.3.1. Key Market Trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast ($Million)

5.4. REGIONAL JETS

5.4.1. Key Market Trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast ($Million)

Chapter: 6 AIRCRAFT HEALTH MONITORING SYSTEM MARKET BY FIT

6.1. OVERVIEW
6.2. LINE-FIT

6.2.1. Key Market Trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast ($Million)

6.3. RETRO-FIT

6.3.1. Key Market Trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast ($Million)

Chapter: 7 AIRCRAFT HEALTH MONITORING SYSTEM MARKET BY REGION

7.1. OVERVIEW
7.2. NORTH AMERICA

7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3 Market size and forecast, by type
7.2.4 Market size and forecast, by aircraft type
7.2.5 Market size and forecast, by fit
7.2.6. U.S.
7.2.7. Canada
7.2.8. Mexico

7.3. Europe

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3 Market size and forecast, by type
7.3.4 Market size and forecast, by aircraft type
7.3.5 Market size and forecast, by fit
7.3.6. UK
7.3.7. Germany
7.3.8. France
7.3.9. Rest of Europe

7.4. Asia-Pacific

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3 Market size and forecast, by type
7.4.4 Market size and forecast, by aircraft type
7.4.5 Market size and forecast, by fit
7.4.6. China
7.4.7. India
7.4.8. Japan
7.4.9. South Korea
7.4.10. Rest of Asia-Pacific

7.5. Latin America, the Middle East, and Africa (LAMEA)

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3 Market size and forecast, by type
7.5.4 Market size and forecast, by aircraft type
7.5.5 Market size and forecast, by fit
7.5.6. Latin America
7.5.7. Middle East
7.5.8. Africa

Chapter: 8 COMPANY PROFILES

8.1. Honeywell International Inc.

8.1.1. Company Overview
8.1.2. Financial performance
8.1.3. Key strategies & developments

8.2. Rockwell Collins Inc.

8.2.1. Company Overview
8.2.2. Financial performance
8.2.3. Key strategies & developments

8.3. Boeing Company

8.3.1. Company Overview
8.3.2. Financial performance
8.3.3. Key strategies & developments

8.4. Ultra Electronics Holdings PLC

8.4.1. Company Overview
8.4.2. Financial performance
8.4.3. Key strategies & developments

8.5. RSL Electronics Ltd.

8.5.1. Company Overview
8.5.2. Financial performance
8.5.3. Key strategies & developments

8.6. UNITED TECHNOLOGIES CORPORATION

8.6.1. Company Overview
8.6.2. Financial performance
8.6.3. Key strategies & developments

8.7. General Electric Company

8.7.1. Company Overview
8.7.2. Financial performance
8.7.3. Key strategies & developments

8.8. Meggitt PLC

8.8.1. Company Overview
8.8.2. Financial performance
8.8.3. Key strategies & developments

8.9. Rolls-Royce PLC

8.9.1. Company Overview
8.9.2. Financial performance
8.9.3. Key strategies & developments

8.10. AIRBUS GROUP

8.10.1. Company Overview
8.10.2. Financial performance
8.10.3. Key strategies & developments

LIST OF TABLES

TABLE 1. AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 2. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET REVENUE, BY TYPE, 20162023 ($MILLION)
TABLE 3. COMMERCIAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 4. DEFENCE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 5. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET REVENUE, BY AIRCRAFT TYPE, 20162023 ($MILLION)
TABLE 6. WIDE-BODY AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 7. NARROW-BODY AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 8. REGIONAL JETS AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 9. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET REVENUE, BY FIT, 20162023 ($MILLION)
TABLE 10. LINE-FIT AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 11. RETRO-FIT AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 12. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 13. NORTH AMERICAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY COUNTRY, 20162023 ($MILLION)
TABLE 14. NORTH AMERICAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY TYPE, 20162023 ($MILLION)
TABLE 15. NORTH AMERICAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY AIRCRAFT TYPE, 20162023 ($MILLION)
TABLE 16. NORTH AMERICAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY FIT, 20162023 ($MILLION)
TABLE 17. U.S. AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 18. CANADA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE , 20172023 ($MILLION)
TABLE 19. MEXICO AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 20. EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY COUNTRY, 20162023 ($MILLION)
TABLE 21. EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY TYPE, 20162023 ($MILLION)
TABLE 22. EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY AIRCRAFT TYPE, 20162023 ($MILLION)
TABLE 23. EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY FIT, 20162023 ($MILLION)
TABLE 24. GERMANY AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 25. UK AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 26. FRANCE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 27. RUSSIA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 28. REST OF EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 29. ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY COUNTRY, 20162023 ($MILLION)
TABLE 30. ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY TYPE, 20162023 ($MILLION)
TABLE 31. ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY AIRCRAFT TYPE, 20162023 ($MILLION)
TABLE 32. ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY FIT, 20162023 ($MILLION)
TABLE 33. CHINA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 34. JAPAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE , 20172023 ($MILLION)
TABLE 35. INDIA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 36. AUSTRALIA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 37. REST OF ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 38. LAMEA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY REGION, 20162023 ($MILLION)
TABLE 39. LAMEA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY TYPE 20162023 ($MILLION)
TABLE 40. LAMEA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY AIRCRAFT TYPE, 20162023 ($MILLION)
TABLE 41. LAMEA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, BY FIT, 20162023 ($MILLION)
TABLE 42. LATIN AMERICA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 43. MIDDLE EAST AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 44. AFRICA AIRCRAFT HEALTH MONITORING SYSTEM MARKET REVENUE, 20172023 ($MILLION)
TABLE 45. COMPANY SNAPSHOT: HONEYWELL INTERNATIONAL INC.
TABLE 46. COMPANY SNAPSHOT: ROCKWELL COLLINS INC.
TABLE 47. COMPANY SNAPSHOT: BOEING COMPANY
TABLE 48. COMPANY SNAPSHOT: ULTRA ELECTRONICS HOLDINGS PLC
TABLE 49. COMPANY SNAPSHOT: RSL ELECTRONICS LTD.
TABLE 50. COMPANY SNAPSHOT: UNITED TECHNOLOGIES CORPORATION
TABLE 51. COMPANY SNAPSHOT: GENERAL ELECTRIC COMPANY
TABLE 52. COMPANY SNAPSHOT: MEGGITT PLC
TABLE 53. COMPANY SNAPSHOT: ROLLS-ROYCE PLC
TABLE 54. COMPANY SNAPSHOT: AIRBUS GROUP


LIST OF FIGURES

FIGURE 1. KEY MARKET SEGMENTATION
FIGURE 2. OVERVIEW OF THE OPPORTUNITIES IN THE GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 3. TOP IMPACTING FACTORS
FIGURE 4. TOP INVESTMENT POCKETS IN THE GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 5. TOP WINNING STRATEGIES
FIGURE 6. TOP WINNING STRATEGY
FIGURE 7. BARGAINING POWER OF SUPPLIERS
FIGURE 8. BARGAINING POWER OF BUYERS
FIGURE 9. THREAT OF SUBSTITUTES
FIGURE 10. THREAT OF NEW ENTRANTS
FIGURE 11. COMPETITIVE RIVALRY
FIGURE 12. KEY PLAYER POSITIONING OF GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 2016 (%)
FIGURE 13. MARKET DYNAMICS
FIGURE 14. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY TYPE
FIGURE 15. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY TYPE, 20162023
FIGURE 16. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET, BY AIRCRAFT TYPE
FIGURE 17. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEMS MARKET, BY AIRCRAFT TYPE, 20162023
FIGURE 18. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY FIT
FIGURE 19. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY FIT, 20162023
FIGURE 20. GLOBAL AIRCRAFT HEALTH MONITORING SYSTEM MARKET, BY REGION
FIGURE 21. NORTH AMERICAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 22. U.S. AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 23. CANADA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 24. MEXICO AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023($MILLION)
FIGURE 25. EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 26. UK AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 27. GERMANY AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 28. FRANCE AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 29. REST OF EUROPE AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 30. ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 31. CHINA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 32. INDIA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 33. JAPAN AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 34. SOUTH KOREA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 35. REST OF ASIA-PACIFIC AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 36. LAMEA AIRCRAFT HEALTH MONITORING SYSTEM MARKET
FIGURE 37. LATIN AMERICA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 38. MIDDLE EAST AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 39. AFRICA AIRCRAFT HEALTH MONITORING SYSTEM MARKET, 20162023 ($MILLION)
FIGURE 40. FINANCIAL PERFORMANCE: HONEYWELL INTERNATIONAL INC.
FIGURE 41. FINANCIAL PERFORMANCE: ROCKWELL COLLINS INC.
FIGURE 42. FINANCIAL PERFORMANCE: BOEING COMPANY
FIGURE 43. FINANCIAL PERFORMANCE: ULTRA ELECTRONICS HOLDINGS PLC
FIGURE 44. FINANCIAL PERFORMANCE: RSL ELECTRONICS LTD.
FIGURE 45. FINANCIAL PERFORMANCE: UNITED TECHNOLOGIES CORPORATION
FIGURE 46. FINANCIAL PERFORMANCE: GENERAL ELECTRIC COMPANY
FIGURE 47. FINANCIAL PERFORMANCE: MEGGITT PLC
FIGURE 48. FINANCIAL PERFORMANCE: ROLLS-ROYCE PLC
FIGURE 49. FINANCIAL PERFORMANCE: AIRBUS GROUP

 

The global aircraft health monitoring systems market is estimated to witness significant growth in Asia-Pacific and LAMEA, on account of high investment towards aviation expenditure, increased need to improve performance and operational efficiency, and rise in demand for real-time monitoring systems. The aircraft health monitoring systems market share is projected to grow at a CAGR of 7.4% from 2017 to 2023, owing to increase in demand for application-specific solutions in the developed and the developing regions.

Adoption of aircraft health monitoring (AHM) systems among commercial and defense sectors has increased owing to the integration of airplane data to determine the current and future serviceability or performance. The aircraft health monitoring systems market is impacted by the need to reduce costs towards maintenance operations, increase in airplane data availability, rise in need to reduce flight delays & air turnbacks, and growth in awareness about AHM. However, challenges associated with certification clearances and scarcity of trained professionals limit the market growth.

Key aircraft health monitoring systems market players are involved in the introduction of new features and capabilities to enhance their existing product portfolio. This is anticipated to increase the product penetration and enable key providers to establish themselves in the emerging markets. In this regard, UTC Aerospace Systems introduced Pulse Health Monitoring System (HMS) in August 2016 to effectively monitor the aircraft health status and performance issues using diagnostic and prognostic analytics software modules.

 

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