Dallas, TX -- (SBWIRE) -- 09/16/2014 -- The aircraft health monitoring systems is segmented into three types namely, aero-propulsion systems, aircraft structures, and ancillary systems. The current market size is estimated to be US$896 million. The market size includes the revenues generated from line fit and retro-fit market based on the analysis of aircrafts in service and the future deliveries. The estimation of aircraft deliveries over the forecast period is based on the production rate of aircrafts per month model wise.

The aircraft health monitoring system is expected to grow at a CAGR of 2.1% during the forecast period (2012-2017). The market size of aircraft HMS is estimated to reach $992 million by 2017. The market is driven by increase in aircraft cycles and uninterrupted operations.

More than 5600 number of A320 family line of aircraft has been delivered and a staggering number of more than 4000 aircraft backlog still persist. A320 has a high production rate of 42 aircrafts per month and B737 being the best selling commercial aircraft with production rate increasing from 35 to 38 aircrafts per month. Demand for HMS systems for the narrow body aircraft will increase with rise in production rate of aircrafts per month. The new engine option of single aisle family currently holds 60% of market share and this is a major driver for the HMS market for aero-propulsion systems. The market for engine health monitoring systems is driven by wide body aircrafts like B777 B787and A330. B777 and B787 drive the retro-fit market for aircraft HMS market.

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Revenues for the global aircraft health monitoring systems market can be projected to increase year on year, at an average of 2.1%. VLAs like A380 and B747 are major drivers for structural health monitoring system, aero-propulsion, and ancillary systems for the line fit market. Very large aircraft is estimated to be a prospective market for health monitoring systems for line fit market with the increasing number of estimated aircraft deliveries over the forecast period.

According to a new market research report, "Commercial Aircraft Health Monitoring Systems Market by Aircraft Type (VLA, WBA, NBA, RTA, Rotary-Wing Aircraft), IVHM Technology (Prognostics, Diagnostics, CBM & Adaptive Control), Sub-System (Aeropropulsion, Aerostructures, Avionics, & Ancillary), & by Geography (North America, Europe, APAC, & Row) Global Forecasts & Analysis (2014-2020)" , published by MarketsandMarkets, the global commercial aircraft health monitoring systems market is estimated to be at $2,253.01 Million in 2014 and is expected to reach $3,337.67 Million by 2020, to register a CAGR of 6.77%.

Browse 92 tables, 70 figures spread through 225 pages and in-depth TOC on"Commercial Aircraft Health Monitoring Systems Market by Aircraft Type (VLA, WBA, NBA, RTA, Rotary-Wing Aircraft), IVHM Technology (Prognostics, Diagnostics, CBM & Adaptive Control), Sub-System (Aeropropulsion, Aerostructures, Avionics, & Ancillary), & by Geography (North America, Europe, APAC, & Row) Global Forecasts & Analysis (2014-2020)".
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The engineering design models deployed are expected to be crucial to this market, as the efficiency of the AHMS system, would be determined by them. Increase in aircraft deliveries, asset utilization, and enhanced safety are identified as the major drivers in this market. Delays in certification clearances, lack of expertize, long product lifecycles, and environmental parameters are the major restraints in this market. Installation of sensors, standardization, data bus limitations, and keeping the system responsive are the major challenges, the market needs to address, during the forecast period. The key challenge resides in finding an appropriate combination of diagnostic and prognostic tools which can fulfill the requirements of aircraft operators. A combination of passive and active systems with redundancy may exacerbate some of the challenges faced by this market. Considerable investment and the fact that a lot of tools deployed for the AHMS are still, in R&D phase may present a substantial risk, for the investors in this market.

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