Aircraft Health Monitoring Systems Market grow up to $992.0 Million - 2017

Commercial Aircraft Health Monitoring Systems Market is based on the data collected and researched; with the help of primary sources and secondary sources. The report covers the revenues and health monitoring systems installed on various types of aircraft models and the type of HMS which includes line fit and retrofit market.

Aircraft Health Monitoring systems collect diagnostic and prognostic information from an aircraft and have the capability to make appropriate decisions about maintenance actions based on available resources. An aircraft may develop cracks, structural damages due to ground handling, bird hit, lightening strike etc. These cracks or damages may grow to critical sizes over a period of time and can lead to failure. Hence health monitoring systems of an aircraft can reduce unscheduled maintenance and downtime and improve aircraft performance and safety.

The Aircraft Health Monitoring System is expected to grow at a CAGR of 2.1% during the forecast period (2012-2017). The market size of aircraft HMS is estimated to reach $992 million by 2017. The market is driven by increase in aircraft cycles and uninterrupted operations.

More than 5600 number of A320 family line of aircraft has been delivered and a staggering number of more than 4000 aircraft backlog still persist. A320 has a high production rate of 42 aircrafts per month and B737 being the best selling commercial aircraft with production rate increasing from 35 to 38 aircrafts per month. Demand for HMS systems for the narrow body aircraft will increase with rise in production rate of aircrafts per month. The new engine option of single aisle family currently holds 60% of market share and this is a major driver for the HMS market for aero-propulsion systems. The market for engine health monitoring systems is driven by wide body aircrafts like B777 B787and A330. B777 and B787 drive the retro-fit market for aircraft HMS market.

Revenues for the global aircraft health monitoring systems market can be projected to increase year on year, at an average of 2.1%. VLAs like A380 and B747 are major drivers for structural health monitoring system, aero-propulsion, and ancillary systems for the line fit market. Very large aircraft is estimated to be a prospective market for health monitoring systems for line fit market with the increasing number of estimated aircraft deliveries over the forecast period.