Aircraft Health Monitoring Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Aircraft Health Monitoring Market is segmented By Aircraft Type (Commercial Aircraft, Military aircraft, others), By Fit Type (Linefit, Retrofit), By Sub-System Type (Airborne Health Monitoring Sub-system, Ground Health Diagnostic Sub-system) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

The Global Aircraft Health Monitoring System Market is expected to grow at a CAGR of 7.47% in the forecast period 2024-2031. The nacelle is the vital component of the engine that constitutes the aircraft’s Propulsion system. It holds the motor, enhances the air flows through the engine, and protects the engine from any aggression. The growth is mainly due to the increasing aircraft market. The passenger and cargo aircraft deliveries reached 42,730 jets, with the value hitting around USD 6.3 trillion. These figures show a 4.1% increase over the previous forecast, which projected a total of 41,030 plane deliveries.

The nacelle is a high-tech complex system, integrating the thrust reverser, which manages several functions such as noise abatement, deicing and the management of internal and external temperature differences, protection from fire and lightning, taking uploads between the engine and the pylon which connects it to the wing, braking and even the aesthetic appearance of the aircraft.

Market Summary

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Market Trends

• The increasing use of air transport for passengers and transportation will create the need to increase air fleets across the globe. This will indirectly drive the growth of the global aircraft nacelle systems market.
• Aircraft nacelle holds an engine propulsion system and helps in reducing engine vibration, deicing, and noise. Nacelle systems also manage external and internal temperature differences, which is a significant advantage for the aircraft.
• The nacelle integrators are working with the OEMs and other industries to develop lightweight nacelles with enhanced performance. This factor is driving the demand for lightweight nacelle systems globally.

Market Restraints

• The newer turbofans that increase bypass ratios to improve fuel efficiency, with larger fan diameters mean bigger nacelles, which threaten to offset any fuel-burn advantages with increased weight and drag. This can be a significant restraint for the global aircraft nacelle system market.
• The repair and maintenance of the Nacelle system are difficult and costly, which is a significant restraint for the global aircraft nacelle system market.
• The vast transportation costs of larger nacelles are also hampering the Aircraft Nacelle system market.

Market Segmentation Analysis

By material type

• The Aircraft nacelle system market is segmented based on material type which includes Composites, Nickel Alloys, Titanium, and Others.
• Composites are majorly used for aircraft nacelle, and it is expected to grow in the forecast period. Due to the increasing replacement of material with composite components, with its excellent strength-to-weight ratio at the relatively low weight.
• Titanium is also expected to grow in the forecasting period due to the increasing penetration, especially in exhaust components with its high durability over a vast temperature range.

Market Geographical Share

• Based on the geography, North America is dominating the global aircraft nacelle system market, and it is expected to grow in the forecast period, due to the increase in contracts for nacelle in the USA, and The US planemaker said that rising passenger traffic and upcoming airplane retirements would drive the need for more jets.
• Asia-Pacific has also shown growth in 2017 due to the increasing aircraft fleet to support rising passenger traffic and the launch of assembly plants for Boeing and Airbus series B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

Market Companies and Competitive Landscape

• Boeing, Airbus, UTC, etc. are some of the key players in the aircraft nacelle systems market. There is a current demand of about 1,000 nacelles annually for Boeing and Airbus aircraft.
• Increasing contracts to build nacelle components are driving the global aircraft nacelle systems market and competition in the market.
  In August 2018, Ducommun has secured a long-term contract, valued at more than USD 200 million, from an original equipment manufacturer (OEM) to build nacelle components. The ten-year-long deal will be valid until 2029.
• In July 2017, Safran Nacelles has received a contract from Satair Group to provide lifetime supply chain services for A340-500/600 engine nacelle parts.