17 Feb, 2021/ IndustryNewsGlobal/ -- This new report from Stratview Research analyses the Aircraft Health Monitoring System (AHMS) Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aircraft Health Monitoring System (AHMS) Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aircraft Health Monitoring System (AHMS) Market is no different. Derived from the previous market scenario, the Aircraft Health Monitoring System (AHMS) Market is likely to witness an impressive CAGR of 7.3% during 2019-24 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Market Share Analysis
Aircraft Health Monitoring System (AHMS) Market by Aircraft Type
Based on the aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, business jet, helicopter, and military aircraft. Narrow- and wide-body aircraft dominate the market and are estimated to remain the leading aircraft segments over the next five years as well. Increasing production rates of B737 and A320 including their fuel-efficient variants (A320neo and B737 max) coupled with the market entry of new players (COMAC and Irkut) are the major factors driving the overall narrow-body aircraft segment and so are the health monitoring systems for them. Similar to narrow-body aircraft, increasing production rates of B787 and A350XWB coupled with the introduction of fuel-efficient variants including B777x and A330neo are the major factors driving the demand for health monitoring systems in the wide-body aircraft segment.
Aircraft Health Monitoring System (AHMS) Market Share by Installation Type
Based on the installation type, the AHMS market is segmented as onboard and on-the-ground. It is estimated that the onboard segment is likely to depict a higher growth during the forecast period, propelled by the installation of different health monitoring system components, such as sensors, communication systems, and flight data management systems, with an aim to provide an increased passenger safety and reduce MRO cost.
Regional Insights
In terms of regions, North America is expected to remain the largest market for aircraft health monitoring systems in the coming five years, whereas Asia-Pacific is likely to witness the highest growth during the same period. The USA is the growth engine of the North American market. Similarly, China, Japan, and India are the key sources of growth in the Asia-Pacific’s aircraft health monitoring system market. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region. This, in turn, will create a healthy demand for aircraft health monitoring systems in Asia-Pacific during the forecast period.
Key Players
Some of the major players in the AHMS market are
- Airbus S.A.S.
- The Boeing Company
- United Technologies Corporation
- Honeywell International Inc.
- General Electric Company
- Rockwell Collins, Inc.
- Meggitt PLC
- Rolls-Royce Holdings PLC
- Safran S.A.
- Air France Industries KLM Engineering & Maintenance
- Lufthansa Technik AG.
These major players are likely to remain the most dominant ones over the next five years as well. Several efforts are being made by these players to remain competitive and to quickly gain more shares in the market. Some of which are a regional expansion, execution of mergers & acquisitions and joint ventures, and advancement in technologies.
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