The global aircraft health management system market was valued at USD 3.62 billion in 2017 growing at a CAGR of 6.8% during the period 2018 to 2025. Factors such as technology upgradation, automation, increasing fuel mileage, real-time visibility of aircraft maintenance requirement and optimizing operations, repair and safety are some of the prominent factors driving the growth of the global aircraft health management system market.
The aircraft health management system focuses on improving operational performance by turning available airplane data into useful actionable information. With the aircraft health management system of monitoring, collecting and analyzing available airplane data, the maintenance and engineering staff is able to make timely repeatable and economical maintenance decisions that will help acquire better fleet operation. Thus, aircraft health management system enables to perform operational performance and reduce air turnback, delays, divergence and cancellations. Additional benefits include, 25 to 30% enhancement in reliability rate of aircraft dispatch, 10% drop in man-hours to store and examine flight data, 25% of cost saving with effective troubleshooting via advanced analytics, 20 to 25% improvement in aircraft availability with less flight disruptions.
The Aircraft Health Management System Market is expected to reach $7273.84 during the forecast period at a 7.65% CAGR.
Major players in the aircraft health management system market include Airbus, Boeing, UTC, General Electric Aviation, Honeywell aerospace, Rockwell Collins, Meggitt Plc, Rolls-Royce Plc, amongst others. These players are adopting integrations with e-log book, reliability, procurement, flight scheduling, technical publications, APA and flight operations which will enhance the potential of aircraft health management system making up to date aircraft data available enabling powerful business decisions.
Aircraft Health Management System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$7273.84|
|Growth Rate||CAGR of 7.65 % during 2022-2030|
|Segment Covered||by End User, Subsystem, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Safran S.A. (France), Airbus S.A.S (Netherlands), Raytheon Technologies Corporation (US), Honeywell international Inc. (US), Teledyne Technologies Inc. (US), among others.|
Key segments of the global aircraft health management system market
Type Overview, 2015-2025 (USD Million)
- Narrow body
- Wide body
- Very large
- Business jets
- Rotary wing
Fit Overview, 2015-2025 (USD Million)
IVHM Technology Overview, 2015-2025 (USD Million)
- Condition-Based Maintenance & Adaptive Control
Sub-systems Overview, 2015-2025 (USD Million)
- Aircraft Structures
- Ancillary Systems
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of the World