LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global commercial aircraft health monitoring systems (AHMS) market is expected to grow at a CAGR of more than 7% during the forecast period.
This research report titled ‘Global Commercial Aircraft Health Monitoring Systems Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Avimanyu Basu, a lead analyst at Technavio for maintenance repair and overhaul (MRO) research, “AHMS helps in reduction of aircraft delays, cancellations, diversions, and turnbacks. Thus, airline operators and MRO providers are focusing on the integration of AHMS with commercial aircraft, thereby reducing the operational costs of an aircraft, which augurs well for the growth of this market.”
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The market research analysis categorizes the global commercial AHMS market into four major segments based on aircraft type. They are:
- Wide-body aircraft
- Narrow-body aircraft
- Regional jets
The top three aircraft type segments for the global commercial AHMS market are:
Global commercial wide-body aircraft health monitoring systems market
The global count of wide-body aircraft in 2016 was more than 5,000, which will eventually be replaced by over 9,000 new planes by 2035. Boeing and Airbus, combined, have orders of more than 10,000 wide-body aircraft that are due for delivery in the next two decades. Such aircraft are mostly in service in regions such as the Americas, Europe, and the Middle East, which have triggered a high demand for long-haul travel with airlines such as Emirates, Etihad, and British Airways.
Increasing air traffic and growing aircraft orders in APAC, the Middle East, and Latin America are primary reasons that will drive the market. The growing demand of these aircraft will also boost the global commercial wide-body aircraft health monitoring systems market during the forecast period.
Global commercial narrow-body aircraft health monitoring systems market
In 2016, there were approximately 15,000 narrow-body or single-aisle aircraft in service globally, which will be replaced by over 28,000 new planes by 2035. Such aircraft are mostly in service in regions such as Asia, Europe, and the Americas, where there is a high demand for short-haul travel. An increase in demand for low-cost carriers has been illustrated by the emergence and growth of airlines, such as Air Asia, Tigerair, Lion Air, and Jetstar Airways.
“The growing demand for such aircraft is expected to drive the global commercial narrow-body aircraft health monitoring systems market during the forecast period,” says Avimanyu.
Global commercial turboprops health monitoring systems market
The regional jet service has grown to be the backbone of domestic air travel over the past decade. In 2016, there were close to 2,600 regional jets across the globe. Moreover, according to the Regional Airline Association, the number of small jets has doubled and the average flight distance has also increased by 50% over the last decade. The growing number of such planes is expected to propel the global commercial turboprops health monitoring systems market during the forecast period.
Global commercial regional jets health monitoring systems
Turbine engines form an essential component of turboprop aircraft that are equipped with a propeller on the outside of the plane. These engines are safer and more reliable than piston engines, which are typically found in smaller aircraft or regional jets. In 2016, there were over 35,000 such aircraft, and it is anticipated that the number would significantly grow, thereby, driving the market during the forecast period.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- GE Aviation
- Rockwell Collins
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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