Aircraft Health Monitoring System Market Demand Analysis in 2020, Global Revenue, Top Companies Growth Forecast to 2027
The global '' aircraft health monitoring system market size '' is projected to reach USD 4,987.9 million by 2027, exhibiting a CAGR of 11.56% during the forecast period. Fortune Business Insights shares this information in its report, titled “ Aircraft Health Monitoring System Market, 2020-2027 ”. In 2019, according to the report, the value of the market stood at USD 4,202.4 million . Booming Demand for Air Travel to Stimulate Market Growth The demand for air travel has increased at a prolific pace over the past few years, driven by expanding middle-class populations, rising disposable incomes, and improving living standards. For example, data released by the International Civil Aviation Organization (ICAO) show that the total number of air passengers rose by 6.4% from 2017 levels, reaching 4.3 billion in 2018. Low-cost carriers transported approximately 1.3 billion passengers, accounting for 31% of world air travelers. Aircraft health monitoring system