United States Aircraft Health Monitoring Market to Reach US$ 2.6 Billion by 2028, Propelled by Growing Air Passenger Traffic

April 24, 2023 | Aerospace and Defense

The latest report by IMARC Group, titled “United States Aircraft Health Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the united states aircraft health monitoring market size reached US$ 1.5 Billion in 2022. An aircraft health monitoring system (AHMS) comprises numerous techniques and solutions deployed to remotely monitor the condition and performance of an airplane in real time. It includes tracking the performance of the engine, systems including fuel, electric, and hydraulic systems, along with the structural integrity of the aircraft. It helps predict potential aircraft failures and malfunctions, such as high vibrations, low oil pressure, overheating engines, and hard landings. This system involves remote systems diagnostics, automated engine trend reporting, and engine/airframe threshold exceedance reporting. It can minimize downtime, identify potential problems, schedule maintenance, and increase safety. As a result, AHMS is gaining immense traction in commercial and military sectors across the region.

United States Aircraft Health Monitoring Market Trends:

The market is primarily driven by the increasing demand for aircraft health monitoring systems (AHMS) for real-time data from airlines. In addition, the rising number of aircraft deliveries due to the growing air passenger traffic is contributing to the market growth. Moreover, various technological advancement, such as the introduction of data analytics techniques such as machine learning (ML) and artificial intelligence (AL) to monitor airlines and use real-time sensor data to track the performance of the engines and predict when the maintenance will be required represents another major growth-inducing factor. Besides this, AHMS technology provides several benefits as it reduces overall maintenance, minimizes operational detection and costs, prognosis, diagnosis, and mitigation of system failures in aircraft components, accelerating product adoption rate. Along with this, several governments are implementing policies regarding improved safety due to increasing instances of aviation accidents, further propelling the market growth. Furthermore, the growing profitability of airlines and escalating demand for information and technology (IT) solutions are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 2.6 Billion by 2028, exhibiting a CAGR of 10% during the forecast period (2023-2028).

Market Summary:

Based on the component, the market has been classified into hardware, software, and services.
On the basis of the subsystem, the market has been segmented into aero-propulsion, avionics, ancillary systems, aircraft structures, and others.
Based on the end user, the market has been bifurcated into commercial and military.
On the basis of the installation, the market has been segregated into onboard and on ground.
Based on the fit, the market has been categorized into linefit and retrofit.
On the basis of the operation time, the market has been classified into real-time and non-real-time.
Based on the operation type, the market has been segmented into detection, diagnostics, condition-based maintenance and adaptive control, and others.
On the geographical front, the market has been divided into Northeast, Midwest, South, and West.
The competitive landscape of the industry has also been examined in the report, along with the profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Components Covered	Hardware, Software, Services
Subsystems Covered	Aero-Propulsion, Avionics, Ancillary Systems, Aircraft Structures, Others
End Users Covered	Commercial, Military
Installations Covered	Onboard, On Ground
Fits Covered	Linefit, Retrofit
Operation Times Covered	Real-Time, Non-Real-Time
Operation Types Covered	Detection, Diagnostics, Condition-Based Maintenance and Adaptive Control, Others
Regions Covered	Northeast, Midwest, South, West
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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United States Aircraft Health Monitoring Market to Reach US$ 2.6 Billion by 2028, Propelled by Growing Air Passenger Traffic

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