Aircraft health monitoring (AHM) is complete range of tools, and solutions of hardware and software, which executes remote monitoring of airplane data. Employment of AHM system enhances safety of an aircraft and decreases maintenance and operational costs. The global aircraft health monitoring market is growing at a significant rate, due to upsurge in implementation of connected aircraft solutions and escalating number of aviation accidents. Different solution contributed to the aircraft health monitoring market size. The market has witnessed high demand for hardware due to amplified implementation of avionics systems, connected aircraft solution and sensors in an aircraft.

On the basis of fit, the market is subdivided into linefit and retrofit. Upsurge in retrofit by airlines in current fleet of aircraft is the factor responsible for the growth of the retrofit. Among the two, the retrofit is expected to grow at the faster rate in the market.

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Flight messenger, internet of things (IoT)-enabled sensors to quantify in-flight torque data and huge data analytics in AHM are the trends in the aircraft health monitoring market. Accessibility of real-time data for enhanced decision-making, upsurge in implementation of connected aircraft solutions, upsurge in situational attentiveness and cost-effective maintenance, augmented requirement for alerting & analysis solutions and escalating number of aviation accidents are the primary growth drivers for aircraft health monitoring industry.

Geographically, Asia-Pacific is observed to witness the fastest growth in the market, due to upsurge in aircraft deliveries. In addition, mounting military expenditure in countries such as China and India, and mounting disposable income of middle class are also creating a positive impact on the aircraft health monitoring market growth in the region.

Key players in the aircraft health monitoring market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In May 2018, Honeywell and AT&T collaborated to provide IoT solutions to shippers with important information about cargo and to enhance aircraft safety, turnaround time and costs. Airbus, General Electric, Safran, Flyht, Boeing, Rolls-Royce, Honeywell International, Meggitt, United Technologies Corporation, Rockwell Collins and Curtiss-Wright are the key players operating in the market.

Source: VynZ Research