Aircraft operators and owners are always looking for increasing the lifespan of their fleet. Health and usage monitoring of the aircrafts is an ideal way of evaluating all the parts of the airplane and maintaining them for an extended service. Aircraft health monitoring system is an emerging technology in the aerospace sector. This technology activates a system that continuously monitors structures of the aircraft for any sort of damage or flaws. Aircraft health monitoring systems market is being introduced to various regions of the world, which has created great opportunities for business and expansion for the operators.
The AHMS market segmentation is based on the health monitoring systems and types of the aircrafts. Trends of global demands and production also affect the overall revenue channels and growth aspect of the market. type of aircrafts that benefit from this system include very large, wide body, narrow body and regional transport aircrafts. Common health monitoring systems for the crafts include aero-propulsion system, ancillary system and aircraft structures. The market is diverse with numerous opportunities for growth on global platform. Apart from the key players in the market, various new entrants have made this a very interesting marketplace.
Important stakeholders in the Aircraft Health Monitoring Systems Market include the AMS manufacturers, craft and engine manufacturers, MROs, airlines, aviation regulation bodies, sensor and actuator manufacturers and passengers. The aircraft health monitoring systems market is estimated to grow at the CAGR of 2.1%. At this rate, the market will reach to $992 million by year 2017. This market has a great prospect in the commercial aviation sector. According to the marketing research reports, it will spread its reach to various developing regions of the world. This system has various benefits, which are the key takeaways or advantages for the aircraft operators.
Apart from the safety and the security of the planes, the HMS system also takes care of the overall maintenance, cost, performance and operations of the craft. It helps reducing the mission aborts and simplifies logistics for fleet development. Increasing mission reliability and flight safety, increasing craft performance and reducing fuel consumption are also the basic functions of this technology. Considering the AHMS market is still in its budding stage, the kind of feedback and demand that it is receiving from the global airlines is very overwhelming. It is safe to say that the HMS technology for aircrafts is here to stay!
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