Aircraft Health Monitoring Market Growing as Safety Concerns Spur their Adoption.
The ageing aircraft will result in growth of the aircraft aftermarket services market in the next few years as companies look to update to modern aircraft with advanced assistance systems including aircraft health monitoring systems. There has also been a shift towards a complete aircraft health monitoring system with prognosis, diagnosis and fault detection capabilities. The improved functionality and safety offered from these systems will propel their adoption. The reduced maintenance time and costs developed from these systems will also result in the low cost airlines looking at aircraft health monitoring systems in order to reduce turnaround time. A number of airline companies have looked to replace their ageing fleet with newer aircraft with advanced aircraft health monitoring capabilities. This is particularly gaining prominence in the APAC and South American markets. For instance, growing safety concerns regarding the fleet of Air India will be a push for increased installation of health monitoring systems in this sector.
The safety concerns regarding aircraft have been a primary driver for the aircraft health monitoring market. With the number of aircraft accidents remaining constant over the past few decades, airline operators have looked at additional safety features to reduce this number. The aircraft control and actuation systems along with the aero-propulsion systems are the main objectives of this monitoring. However in recent years, structural monitoring of aircraft has been on the rise and is projected to be a major driver for this market. The growing air traffic has been a major hazard for safety of aircraft. The growing traffic has resulted in a growing number of collisions between multiple aircraft, for instance Ceiba Intercontinental Airlines Flight 71 collided with a BAE125 causing significant damage to structure of both aircraft in 2015. Such collisions have been a focus point for improving the safety of aircraft and Federal Aviation Authority started testing improved aviation safety in 2014 by installing commercial aircrafts with around 100 sensors to monitor the airframe in addition to the maintenance capabilities of the aircraft health monitoring system. Since then this segment has witnessed significant growth with a number of airline operators retrofitting these structural health monitoring devices in order to aid safety. The aircraft health monitoring system market will thus witness significant growth driven by growing safety concerns.
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