PUBLISHER: The Business Research Company | PRODUCT CODE: 1658760
PUBLISHER: The Business Research Company | PRODUCT CODE: 1658760
Aircraft health monitoring involves a comprehensive set of strategies, tools, solutions, and methodologies integrated into a hardware and software system. This system conducts remote monitoring of aircraft data to gain insights into the current and future service and performance maintenance needs of an aircraft.
The primary systems within aircraft health monitoring encompass engine health monitoring, structural health monitoring, and component monitoring. Engine health monitoring (EHM) specifically focuses on systems that proactively monitor the health of an aircraft's engine to ensure its protection. EHM involves the transfer of data from the aircraft engine to a ground-based operational center, facilitating the recording and monitoring of engine performance. The operational modes of aircraft health monitoring include real-time and non-real-time, offering a combination of hardware, software, and services. The aircraft health monitoring industry provides both line fit and retrofit solutions, with end-users ranging from original equipment manufacturers (OEMs) and maintenance, repair, and overhaul (MRO) entities to airlines.
The aircraft health monitoring market research report is one of a series of new reports from The Business Research Company that provides aircraft health monitoring market statistics, including aircraft health monitoring industry global market size, regional shares, competitors with an aircraft health monitoring market share, detailed aircraft health monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft health monitoring industry. This aircraft health monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aircraft health monitoring market size has grown strongly in recent years. It will grow from $4.52 billion in 2024 to $4.94 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to continuous research and development, pilot feedback and incident analysis, flight data recorder development, improvements in communication systems, focus on reliability and maintenance planning.
The aircraft health monitoring market size is expected to see strong growth in the next few years. It will grow to $7.05 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to predictive maintenance solutions, increasing emphasis on flight safety, operational cost reduction, fleet-wide monitoring and optimization, fuel efficiency and performance optimization, condition-based maintenance strategies. Major trends in the forecast period include demand for real-time diagnostics, advancements in sensor technology, integration of IoT and big data analytics, emphasis on predictive maintenance, increased focus on flight safety.
The surge in demand for heightened safety and efficiency within the aviation sector, largely driven by accidents, is anticipated to propel the aircraft health monitoring market. Safety management in aviation aims to prevent human casualties, environmental damage, and property loss. Given the inherent risks in air travel, aviation entities are increasingly investing in aircraft safety to ensure safer flights and minimize aircraft-related fatalities. This heightened concern for aircraft safety has led to a rise in the adoption of aircraft health monitoring systems, aimed at reducing maintenance and operational expenses while enhancing overall safety standards. For instance, according to the International Air Transport Association (IATA) 2022 Annual Safety Report, the commercial aviation sector witnessed 39 accidents in 2022, marking an increase from 29 accidents in the preceding year. Hence, the escalating demand for safety and efficiency, prompted by accidents, is set to drive the growth of the aircraft health monitoring market.
Anticipated growth in air traffic is poised to drive the expansion of the aircraft health monitoring market in the foreseeable future. Air traffic encompasses the movement of aircraft, encompassing both civilian and military aviation, across airspace. Contemporary aircraft are equipped with diverse sensors that continuously monitor vital systems' health and performance. These sensors monitor critical parameters like engine functionality, temperature, pressure, and structural integrity. For instance, as per the International Air Transport Association, total traffic experienced a 55.5% rise in February 2023 compared to the corresponding period in 2022. Thus, the escalating air traffic volume is fueling the aircraft health monitoring market's growth trajectory.
Within the aircraft health monitoring market, a prominent trend is product innovation. Key industry players focused on aircraft health monitoring systems are steadfastly developing cutting-edge monitoring solutions to fortify their market positions. For instance, in November 2022, Collins Aerospace, a US-based aerospace and defense product supplier, unveiled its new Aircraft Health Monitoring (AHM) solution. Specifically designed to optimize Boeing 737 NG (Next Generation) engine performance and health, this innovative digital fleet management application offers predictive health analytics, digital tech-ops for various aircraft on a single interface, and condition monitoring for 737 NG, co-created with United Airlines. The AHM system delivers real-time data and insights for proactive maintenance and operational efficiency, contributing significantly to aviation technology advancement and safety standards.
Leading companies in the aircraft health monitoring market are employing sophisticated monitoring tools and technologies to oversee and elevate the performance and operational health of CT7-8 engines. These CT7-8 engines belong to a robust engine family, falling within the 2,500 to 3,000 shaft horsepower (shp) class, specifically designed to cater to the rigorous operational demands of contemporary medium lift helicopters. Acknowledged for their durability, fuel efficiency, and outstanding performance attributes, these engines are well-suited for diverse roles such as executive transportation, search and rescue missions, passenger transportation, and operations within the oil and gas sector. A notable instance is the joint pilot program launched in March 2023 by GE Aerospace, a US-based provider of aircraft engines and systems, and PHI Aviation, a US-based provider of safe and reliable helicopter services. This program introduces the CT7-8 digital engine health monitoring tool, aiming to harness cutting-edge technology to oversee and enhance the performance of the CT7-8 engines, renowned for their power and efficiency.
In September 2022, Parker Hannifin, an Ohio-based company specializing in motion and control technologies, acquired Meggitt for an undisclosed amount. This acquisition is intended to strengthen Parker Hannifin's capabilities in the aerospace and defense markets. By incorporating Meggitt's advanced technologies and products, Parker Hannifin aims to expand its portfolio, foster innovation, and enhance its global presence in these vital sectors. Meggitt is a UK-based aerospace company.
Major companies operating in the aircraft health monitoring market are Airbus SAS, Safran SA, Honeywell International Inc., Teledyne Technologies Inc., The Boeing Company, General Electric Company, Rolls-Royce Holdings PLC, Flyth Aerospace Solutions Ltd., Raytheon Technologies Corporation, Curtiss-Wright Corporation, RSL Electronics Ltd., Deutsche Lufthansa AG, Acellent Technologies Inc., Societe Internationale de Telecommunications Aeronautiques, Embraer SA, AMETEK Inc., Tech Mahindra Limited, Ventura Aerospace Inc., Meggitt PLC, Lufthansa Technik AG, FLYHT Aerospace Solutions Ltd., Esterline Technologies Corporation, Ultra Electronics Holdings PLC, Thales Group, BAE Systems PLC, Moog Inc., SKF AB, LORD Corporation, Goodrich Corporation, Eaton Corporation
Asia-Pacific was the largest region in the aircraft health monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft health monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the aircraft health monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The aircraft health monitoring market includes revenues earned by entities by providing fault diagnostics systems, artificial intelligence, wireless sensor networks, and high-speed communication. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Aircraft Health Monitoring Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aircraft health monitoring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aircraft health monitoring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aircraft health monitoring market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.