Global Aircraft Health Monitoring Market Forecast to 2023 – Projected to Reach USD 5.43 Billion – ResearchAndMarkets.com

The “Aircraft
Health Monitoring Market by Aircraft Type (Commercial, Business, Rotary,
Military), Operation Time (Real-Time, Non-Real-Time), Installation
(Onboard, On Ground), Fit (Linefit, Retrofit), Solution, and Region –
Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s
offering.

The AHM market is estimated to be USD 3.74 billion in 2018 and is
projected to reach USD 5.43 billion by 2023, at a CAGR of 7.77% from
2018 to 2023.

Increasing demand for smart connected aircraft from commercial and
military operators to lower maintenance cost is expected to drive the
growth of the AHM market during the forecast period.

However, regulatory clearance and lack of common data standards and
risks associated with cybersecurity restrain for the growth of this
market.

Drivers

Restraints

Opportunities

Challenges

The commercial segment in AHM market is anticipated to grow at the
highest CAGR during the forecast period. This growth can be attributed
to the increase in air travel, the rise in disposable income of the
middle-class population, and international trade and tourism. Commercial
aviation companies invest in technologically-advanced aircraft to
facilitate effective use of them.

Moreover, they are constantly seeking ways to reduce and minimize
operational costs, including unscheduled aircraft maintenance to improve
the efficiency of aircraft.

The growth rate of the markets in Asia Pacific is expected to grow at
the highest rate during the forecast period. The increase in aircraft
deliveries will lead to the rise in the demand for aircraft health
monitoring systems in this region. Also, the increased military spending
in countries such as India and China is expected to drive the market in
this region.

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/glbs2v/global_aircraft?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005224/en/

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