Key Opportunities and Strategies in the Aircraft Health Monitoring System Market 2023-2032

The Aircraft Health Monitoring System Global Market Report 2023, provides comprehensive information on the aircraft health monitoring system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

 

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As per The Business Research Company’s Aircraft Health Monitoring System Global Market Report 2023, the market is expected to grow from $4.29 billion in 2022 to $4.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft health monitoring system market is expected to reach $6.41 billion in 2027 at a CAGR of 8.1%.

 

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Technological advancements are a key trend gaining popularity in the aircraft health monitoring system market. Major companies operating in the aircraft health monitoring system market are introducing innovative products to sustain their position in the market. For instance, in June 2023, Pratt & Whitney, a US-based aerospace manufacturer, introduced Percept, an artificial intelligence-based aircraft engine analysis system. The computer vision application runs on the Awiros Video Intelligence Operating System (OS). Its cloud-based interface enables customers to shoot photographs and videos of aircraft engines on mobile devices and obtain real-time part availability replies. This allows for faster and more cost-effective turnover of leased engine assets. Instead of an inspector needing to examine an engine and verify details individually, an automated examination cuts the time required by approximately 90%.

 

The aircraft health monitoring system market is segmented:

1) By System: Engine Health Monitoring, Structural Health Monitoring, Component Health Monitoring

2) By Subsystem: Aero-propulsion, Avionics, Ancillary Systems, Aircraft Structures

3) By Installation: On Board, On Ground

4) By Technology: Prognostics System, Diagnostics System, Detection System, Adaptive Control, Other Technologies

5) By End User: Commercial, Military

 

Asia-Pacific was the largest region in the aircraft health monitoring system market in 2022.

 

The table of contents in TBRC’s aircraft health monitoring system market report includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies

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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

 

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