CHICAGO, March 8, 2021 /PRNewswire/ — According to the new market research report “Aircraft Health Monitoring Market by Platform (Commercial, Business & General, Military Aviation), Installation (Onboard, On Ground), Fit (Linefit, Retrofit), End User, Solution, System, Operation Mode and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the market size is projected to grow from an estimated USD 3.3 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 10.8% during the forecast period. This growth can be attributed to the increasing aircraft operational and flight safety activities.
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The MRO segment accounts for the largest market size during the forecast period
Based on end user, the aircraft health monitoring market has been segmented into MRO, OEMs and Airlines are considered in the aircraft health monitoring market. The MRO is estimated to be account for the largest share in the aircraft health monitoring market. Increase in aircraft modernization programs is one of the most significant factors driving the MRO segment in the aircraft health monitoring market.
The commercial aviation segment is projected to grow at the highest CAGR during the forecast period
Based on the platform, the aircraft health monitoring market has been segmented into commercial aviation, business and general aviation and military aviation. Commercial aviation will register the fastest…