The global aircraft health monitoring system market size is projected to reach USD 4,987.9 million by 2027, exhibiting a CAGR of 11.56% during the forecast period. The value of the market stood at USD 4,202.4 million in 2019, according to Fortune Business Insights™ in its report, titled “Aircraft Health Monitoring System Market, 2020-2027”.
Market Segments
On the basis of the sub-system, the market has been segregated into aero-propulsion systems, airframes, ancillary systems, software, and others. By technology, the market is segmented into prognostic systems, diagnostic systems, detection systems, adaptive control, and others. Based on the platform, the market is classified into commercial aircraft, business jets, and regional military aircraft. Based on fit, the market has been bifurcated into retrofit and line-fit. In terms of geography, the market has been grouped into North America, Europe, Asia Pacific, and Rest of the World.
Information Source: -
https://www.fortunebusinessinsights.com/aircraft-health-monitoring-system-market-105027
Aerospace Bigwigs to Dictate Competitive Dynamics
The competitive landscape of this market is characterized by the dominant activities of bigwigs, such as Airbus and Honeywell, in the aerospace industry. Their robust finances and strong portfolios have allowed these companies to continuously invest in the development of next-generation aircraft health monitoring systems. However, the governing dynamics of this market are now being reshaped due to the entry of startups that are specializing in inventive technologies and enhancing this market’s potential.
