The Global Commercial Aircraft Health Monitoring Systems Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of commercial aircraft health monitoring systems will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2021, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2021).
Aircraft health monitoring systems collect data in real time from the aircraft fleet and makes it available to ground operations. Various sensors are installed at various damage hotspot locations throughout the aircraft structure/engine, which provide early detection of anomaly (or initiation of crack/fatigue). Thus, necessary preventive measures can be implemented on-time, which reduces the chances of critical damage and major system failure. However, the reliability and durability of damage detection techniques/ sensors acts as a barrier for the growth of global commercial aircraft health monitoring systems market. The aircraft operators incurred the highest operational cost for aircraft maintenance. The main challenges faced by growing number of aircraft operators are needed for improved damage detection and frequent inspection.
The commercial aircraft health monitoring systems dependent on the growth in passenger traffic at airport. Thus, the increasing or decreasing demand of the passenger traffic directly has an impact on the market. Moreover, aircraft health monitoring systems provide major advantages over the conventional damage detection techniques (e.g. NDT), such as integrated health monitoring capabilities through sensors mounted to the aircraft. Commercial aircraft health monitoring systems eventually enables condition-based maintenance rather than time-based maintenance. It also eliminates the need for disassembly of aircraft components for damage evaluation, as required for most conventional damage inspection technology. This is the primary factor that drives the growth of the commercial aircraft health monitoring systems market and has gained prevalence in the recent times, with technological developments and growing initiatives from industry bodies such as SHM-AISC and FAA. Thus, the growth of the commercial aircraft health monitoring systems market is expected to go hand in hand with the growth of passenger traffic.
Airbus, Boeing, GE Aviation, Rockwell Collins, United Technologies, Accellent Technologies, BeanAir, Meggitt, RSL Electronics, Rolls-Royce Holdings, and Ultra Electronics Holdings and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Commercial Aircraft Health Monitoring Systems Market.