RE:Nice Recap PikerroAircraft Health Monitoring System Market Expected to Reach $1,489 Million by 2023 According to a new report by Allied Market Research, titled, Aircraft Health Monitoring System Market by Type, Aircraft Type, and Fit: Global Opportunity Analysis and Industry Forecast, 2016-2023, the global aircraft health monitoring system market was valued at $926 million in 2016, and is projected to reach at $1,489 million by 2023, growing at a CAGR of 7.4% from 2017 to 2023. Wide-body aircraft possesses maximum potential, which is expected to create lucrative opportunities for industry players. This system closely relates to the maintenance, repair, and overhaul (MRO) segment in an airline industry. Implementation of AHMS decreases maintenance & operational costs and improves overall safety of an aircraft. The growth of the aircraft health monitoring system market is driven by rise in demand for real-time fault management, high demand for performance monitoring, and increased need for custom alerting & analysis solutions. The current business scenario has witnessed surge in adoption of aircraft health monitoring system in the developed and the developing regions, owing to the technological innovations in product offerings, increased need to improve performance and operational efficiency, rise in demand for real-time monitoring systems, and increase in application areas among end users. Furthermore, factors such as the need to reduce costs towards maintenance operations, increase in airplane data availability, high need to reduce flight delays & air turn backs, and growth in awareness about AHM are expected to provide numerous opportunities for aircraft health monitoring system market growth. However, lack of trained professionals is expected to restrict the market growth during the forecast period.