December 24, 2018: Adroit Market Research launched a study titled, “Global Aircraft Health Management System Market Size 2017, by Type (Commercial, Narrow body, Wide body, Very large, Business jets, Rotary wing, Defence), by Fit (Linefit Retrofit), by IVHM technology (Diagnostics, Prognostics, Condition-based maintenance & adaptive control), by Subsystems (Aero-propulsion, Aircraft structures, Avionics, Ancillary systems), by Region and Forecast 2018 to 2025”. The study covers the global aircraft health management system market for a period ranging between 2012 to 2025, where 2012 to 2017 imply the actual annual consumption with forecast between 2018 to 2025. The global aircraft health management system market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages. The global aircraft health management system market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.
The global aircraft health management system market to reach USD 6.06 billion by 2025. Air transportation is a vital component in a growing economy where aircraft health management is gaining momentum. Increasing asset utilization, increasing fleet status across the airline enterprise, increasing volume of data generated to analyze aircraft and cost effective maintenance, operations, repair while optimizing safety and are the major factors driving the growth of global aircraft healthcare management system market.
Unscheduled aircraft maintenance causes a lot of problems and costs for aircraft operators. This is due to the fact that aircrafts account for significant cost if flights have to be rescheduled or cancelled and because spare are not always available at a given place and sometimes have to be shipped across the world. Thus, reducing the number of unscheduled maintenance is a major cost saving factor for aircraft operators. However, lack of trained professionals may restrain the aircraft health management system market growth during the forecast period.
The global aircraft health management system market has been segmented based on type, fit, IVHM technology and by sub-systems. As, there are unpredictable financial uncertainty in both military and commercial aircraft market, there is an intense pressure to reduce cost, thus, the IVHM technology is a potentially valuable strategy for the manufacturer and management of aircraft performance.
The key companies in the aircraft health management system include Airbus, Boeing, UTC, General Electric Aviation, Honeywell aerospace and others. These companies are focusing on the development of advanced aircraft health management systems in order to capture the growing market. Various market players are also involved with the aircraft sensor technology which would enhance aircraft data management system. Additionally, there has been growing number of systems with prognosis and diagnosis capabilities in the aircraft health management system market.
Region wise the aircraft health management system market is spread across North America, Europe, Asia Pacific and Rest of the world. Although, the market is mature in North America and European countries, Asia Pacific is forecasted to show a lucrative market growth during the forecast period. In countries like India and China, governments focus on increasing technological development and increase in the number of people travelling by air will boost the aircraft health management system market by 2025. For instance, Tech Mahindra Limited, an Indian multinational provider of information technology, is developing the aircraft ground support system which would facilitate real-time and post flight recorded data management, fault notification and diagnosis reporting. They are also using cloud computing Iot and big data technologies to perform deep analytics of the aircraft health status.
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