According to the research report titled ‘Aircraft Health Monitoring System Market Size By Platform), By System, By Operation Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026’, available with Market Study Report, global aircraft health monitoring system market is projected to register an appreciable growth rate over 2020-2026.
 

Increasing defense budgets, rising air traffic worldwide, escalating aircraft deliveries, growing establishments of MRO facilities, implementation of new government directives for improving airworthiness, and rising investments are driving global aircraft health monitoring system (AHMS) market growth. On the contrary, cyber security threats and lack of real-time data for R&D act as major challenges for the industry, cites the study.  
 

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For the uninitiated, aircraft health monitoring system incorporates various tools, solutions, techniques, and practices that are closely linked to a system of the software and hardware, that enables remote monitoring of aircraft data to evaluate its performance and serviceability. These systems reduce overall maintenance & operational costs, while improving safety & lifespan of aircrafts.
 

Based on platform, wide body aircraft segment is set to grow due to the projected rise in international travel and tourism in the upcoming years. Whereas, increasing popularity of recreational activities backed by growing tourism is expected to boost the regional aircraft segmental share.
 

On the other hand, helicopters segment growth is driven by escalating demand for accessibility for immediate medical attention, especially amidst the Covid-19 crisis. Fighter jet segment is supported by rise in budget allocation for defense in tandem with growing demand for enhancing aerial strength through modification and procurement of jets.
 

Speaking of solution, global aircraft health monitoring system market is categorized into hardware, software, and services, among which, the services segment is reckoned to gain considerable traction in the ensuing years due to rising customer inclinations towards outsourcing MRO operations to third party service providers.
 

In terms of operation, real time operation segment is likely to experience modest gains in the upcoming years, attributable to technological advancements in AI and cloud computing as well as integration of various sensors for gathering real time intel.
 

Geographically, Latin America AHMS market is predicted to record substantial growth through 2026, on account of rising focus among major industry players towards establishing their MRO facilities in the region.
 

Leading organizations in global aircraft health monitoring system market are Safran, Curtiss-Wright, FLYHT, Rolls-Royce, Meggitt, Rockwell Collins, General Electric, Honeywell International, Boeing, and Airbus among others.