Aircraft Health Monitoring Systems Market to reach $12.7 Million by 2030; The growing air traffic following which the rising demand for aircraft safety is driving the adoption of Aircraft Health Monitoring System which will lead to greater deployment

The Aircraft Health Monitoring Systems Market size is estimated to reach $12.7 Million by 2030, growing at a CAGR of 7.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Aircraft Health Monitoring Systems Market – By Solution (Hardware, Software and Services), By Component (Structural Health Monitoring (SHM), Engine Health Monitoring (EHM), System Health Monitoring (SHM), Integrated Vehicle Health Management (IVHM) and Others), By Sub System (Aero- Propulsion, Airframe, Avionics, Ancillary Systems, Aircraft Structures and Others), By Technology  (Diagnostic, Prognostics, Adaptive control, Prescriptive and Others), By Fit Type (Line Fit and Retro Fit),  By Platform (Civil Aviation, Military Aviation and Others) and By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

The increase in air traffic leads to a higher number of potential collisions and operational challenges, which in turn fuels the demand for advanced aircraft health monitoring systems to enhance safety and efficiency. Additionally, the focus on cost efficiency through predictive maintenance practices is driving the adoption of advanced health monitoring systems, fueling the market growth during the forecast period.

North America accounted for the largest share of % of the Aircraft Health Monitoring Systems Market in 2023. This dominance is attributed to the region's well-established aerospace industry, featuring major manufacturers and a robust commercial aviation sector. Significant investments in advanced technologies, coupled with a strong emphasis on safety and regulatory compliance, further enhance North America's leading position. The presence of numerous airlines and a continuous drive for innovation also contribute to the region's substantial share in the market. According to Airbus’ latest Global Services Forecast (GSF) in 2023, North America’s commercial aircraft services market is projected to grow from $31 billion today to $45 billion by 2042, reflecting a 45% increase and underscoring the region's critical role in the aviation industry. Also as per a report of April 2024  by Aerospace Manufacturing and Design, the North American aircraft market for enhancements and modernization is projected to achieve the largest average annual growth rate of +4.1% across various categories from 2023 to 2042, increasing from $1.9 billion to $4.1 billion. This growth is primarily driven by demand for cabin and system upgrades, particularly as airlines modernize their fleets and air traffic infrastructure until 2030. By 2042, it is anticipated that 90% of the fleet will be connected in real time, facilitating improved communication with airline operations on the ground and in-flight, as well as enhancing maintenance procedures and the overall passenger experience.

The surge in air traffic is creating a pressing need for enhanced safety measures within the aviation industry. As more aircraft occupy the skies, the likelihood of potential collisions and operational challenges increases, necessitating the implementation of robust health monitoring systems. These advanced systems are designed to continuously assess the condition of aircraft in real time, identifying any issues before they escalate into serious problems. By providing crucial data on aircraft performance and safety, health monitoring systems help airlines optimize their operations, reduce the risk of accidents, and ensure regulatory compliance. According to a Statista report from 2024, global passenger demand for air traffic saw a remarkable increase of over 36% in 2023. This growth follows a significant rise of nearly 64.3% in 2022, showcasing a robust recovery in the aviation sector. Looking ahead, the demand is projected to grow by approximately 12% in 2024. This continued upward trajectory underscores the increasing reliance on air travel, further emphasizing the need for enhanced safety measures and advanced health monitoring systems to manage the complexities of rising air traffic effectively.

By employing predictive maintenance technologies, airlines can proactively detect potential issues before they develop into major failures or costly repairs. This strategy helps minimize unscheduled downtime and lowers maintenance costs, ultimately improving operational efficiency. With growing pressure to optimize expenses while maintaining high safety standards, the adoption of predictive maintenance solutions has become crucial. By enhancing operational processes and prolonging the lifespan of aircraft components, predictive maintenance not only meets financial goals but also advances sustainability within the aviation industry. For example, In September 2023, A*STAR announced the development of next-generation direct-write (DW) ultrasonic sensors for aircraft, featuring advanced capabilities for automatic structural health monitoring and efficient preventive maintenance. The team from IMRE is working on creating lightweight and compact DW ultrasonic sensors that provide real-time monitoring, consistent performance, and significant space and cost savings. By automatically assessing the aircraft’s operational and structural conditions, these sensors facilitate more effective preventive maintenance.

Key companies profiled in the Aircraft Health Monitoring Systems Market are Airbus SE, Boeing Company, Honeywell Aerospace, Safran S.A., Lufthansa Technik AG, Liebherr-Aerospace, Meggitt PLC, GE Aerospace, Curtiss-Wright Corporation,Rolls-Royce Holdings Plc and others.

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