New York, US, May 17, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Commercial Aircraft Health Monitoring Systems Market Information by IVHM Technology, Subsystem, Fit, Aircraft Type and Region - Forecast till 2030”, Commercial Aircraft Health Monitoring Systems Market could thrive at a rate of 6.00% between 2023 and 2030. The market size will be reaching around USD 4.05 Billion by the end of the year 2030.
Commercial Aircraft Health Monitoring Systems Market Overview :
Commercial Aircraft Health Monitoring Systems (CAHMS) are advanced systems that monitor the health of an aircraft's critical components, such as engines, airframe, and avionics, to provide real-time information about the health of the aircraft. The data collected by these systems is used to identify any potential issues and predict the need for maintenance, repair, or replacement of components.
The primary application of CAHMS is to enhance flight safety, reduce maintenance costs, and minimize unscheduled downtime. Additionally, these systems help airlines optimize their operations, improve fleet management, and reduce the environmental impact of aviation.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: USD 4.05 billion |
| CAGR | 6.00% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By IVHM Technology, Subsystem, Fit, Aircraft Type and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Using predictive maintenance on the active fleet can cut down on maintenance expenditures. |
Market Competitive Landscape:
The affluent companies in the Commercial Aircraft Health Monitoring Systems industry include
- Airbus
- Boeing
- Bombardier
- Embraer
- Gulfstream
- Acellent Technologies, Inc
- BeanAir
- Curtiss-Wright Corporation
- FLYHT Aerospace Solutions Ltd
- General Electric Company
- Honeywell International Inc
Market USP Covered:
Market Drivers:
The increasing demand for real-time health monitoring of aircraft is one of the major factors driving the growth of the Commercial Aircraft Health Monitoring Systems market. This is because real-time monitoring allows airlines to detect potential faults in aircraft systems and address them before they cause unscheduled downtime or flight cancellations. This not only improves operational efficiency but also reduces maintenance costs for airlines. The need to reduce unscheduled downtime and maintenance costs is also driving the adoption of Commercial Aircraft Health Monitoring Systems. This is because scheduled maintenance can be more cost-effective than unscheduled maintenance and can help airlines avoid costly downtime.
Moreover, the growing focus on aircraft safety and performance optimization is also driving the growth of the market. Commercial Aircraft Health Monitoring Systems enable airlines to monitor the health of aircraft in real time, which allows them to detect any potential safety issues and address them before they become a problem. Additionally, by optimizing aircraft performance, airlines can reduce fuel consumption and improve the overall efficiency of their operations, leading to cost savings.
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Market Restraints:
The market growth is restrained by several factors, including the high cost of installation and maintenance of these systems, the lack of standardization and interoperability among different CAHMS vendors, and the limited adoption of these systems by small and regional airlines.
COVID 19 Analysis
The COVID-19 pandemic has caused a major disruption in the aviation industry, with airlines facing reduced passenger traffic, reduced revenues, and supply chain disruptions. The pandemic has also caused a significant decline in aircraft production, leading to a decrease in the demand for Commercial Aircraft Health Monitoring Systems (CAHMS) in the short term. However, the long-term outlook for the market remains positive, as airlines and aircraft manufacturers continue to focus on improving the safety and efficiency of their fleets through the adoption of advanced technologies.
In the post-COVID scenario, the commercial aviation industry is expected to recover gradually, with air travel gradually returning to pre-pandemic levels. As airlines and aircraft manufacturers resume their operations and investment in new technologies, the demand for CAHMS is expected to increase significantly. Furthermore, the increasing focus on reducing carbon emissions and improving environmental sustainability is likely to drive the demand for CAHMS solutions that can help optimize fuel efficiency and reduce emissions from aircraft.
Market Segmentation
By IVHM Technology
The IVHM Technology in the market includes Hardware, Software, and Service.
By Subsystem
The Subsystem in the market includes CEMS and PEMS.
By Fit
The Fit in the market includes Retrofit and line-fit
By Aircraft Type
The Aircraft Type in the market includes Fixed Wing Aircraft and helicopters.
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Regional Insights
The Commercial Aircraft Health Monitoring Systems Market is expected to grow significantly in North America, Europe, and Asia Pacific. In North America, the growth of the market is mainly driven by the high demand for advanced aircraft health monitoring systems, the presence of major aircraft manufacturers, and the increasing adoption of IoT and AI technologies in the aviation industry. Europe is expected to witness steady growth due to the stringent regulations regarding aircraft safety and the increasing focus on performance optimization. Meanwhile, Asia Pacific is expected to be the fastest-growing region in the market due to the growing demand for air travel, the rise of low-cost carriers, and the increasing adoption of advanced technologies in the aviation industry. Countries such as China and India are expected to witness significant growth due to the increasing investments in the aviation sector, the growth of the middle-class population, and the increasing air traffic.
Recent Development
December 2021
Honeywell Aerospace announced that it had completed the first-ever flight test of its next-generation Health and Usage Monitoring System (HUMS) for commercial helicopters. The new system is designed to provide advanced analytics and predictive maintenance capabilities to improve operational efficiency and reduce maintenance costs.
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