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(MoneyNewsWire.Net, March 12, 2018 ) The aircraft health monitoring systems (AHMS) market is estimated at USD 3.43 Billion in 2016, and is projected to reach USD 4.71 Billion by 2021, at a CAGR of 6.53% from 2016 to 2021. Increase in situational awareness to drive operations, cost effective maintenance, and increase in asset utilization, and increasing volume of data generated to analyze aviation industry among others are some of the major drivers of the aircraft health monitoring system market.
Browse Market Data Tables and In-Depth TOC of the Aircraft Health Monitoring System Market to 2021 @ https://www.researchcosmos.com/reports/global-aircraft-health-monitoring-system-ahms-market-analysis-and-forecast-to-2022-growth-opport/4149114
On the basis of IVHM technology, the aircraft health monitoring system market has been segmented into prognostic, diagnostic, and condition-based monitoring (CBM) & adaptive control. The CBM & adaptive control segment is projected to grow at the highest CAGR during the forecast period, as the information provided by the CBM helps the aircraft operators perform maintain specific component of an aircraft on real-time basis rather than depending on the historical data.
On the basis of sub-systems, the aircraft health monitoring systems market has been sub segmented into aero-propulsion, aircraft structures, avionics, and ancillary systems. The aero-propulsion segment led the market, and is expected to continue its dominance over the next five years. However, the avionics segment in aircraft health monitoring system market is projected to grow at the highest CAGR during the forecast period. The growth is attributed to its capabilities of providing predictive maintenance on real-time data.
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On the basis of type, the aircraft health monitoring systems market has been segmented into commercial and defense. The commercial segment in the aircraft health monitoring systems market is projected to grow at the highest CAGR during the forecast period, due to the increase in tourism, rise in the disposable income of the middle-class population among others.
On the basis of fit, the aircraft health monitoring system market has been segmented into line fit and retrofit. The line fit sub segment in the aircraft health monitoring system market is projected to grow at a higher CAGR during the forecast period.
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The growth rate of the aircraft health monitoring systems markets in North America and Europe is expected to be considerably high during the forecast period because of the presence of companies like Boeing and Airbus in these regions which account for a share of approximately 80% of the aviation industry.
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