Rapid increase in the expansion of infrastructural development worldwide, easily available low-cost sensors are driving the growth of global market for structural health monitoring. Also, rising government initiatives with regards to public safety and standardization of structural health monitoring systems are factors contributing towards the production sales of structural health monitoring. Reduction in maintenance and repair costs of a structure are other factors leading to increased adoption of structural health monitoring. However, complications based on variable shape and size of the structure are likely to create hindrances during implementation of structural health monitoring systems, which in turn has adverse effects on revenue growth of the global market.
A recent report anticipates that the global market for structural health monitoring will expand at an outstanding 14.2% CAGR during the forecast period, 2017-2027, to touch an evaluation of more than US$ 7,184.1Mn by the end of 2027. Companies namely Kinemetrics Inc., COWI A/S, National Instruments Corporation, Hottinger Baldwin Messtechnik GmbH, Nova Metrix LLC and Digitexx Data Systems, Inc. among others will witness a sizeable growth globally. Leading companies are intent on marketing schemes such as product developments and growing their product portfolio. Also, companies such as Structural Monitoring Systems plc and Smart Tower Systems LLC are also contributing towards expansion of the global market for structural health monitoring.
Structural Monitoring Systems plc Inks a Contract with US Airline Delta
Structural Monitoring Systems plc inks a contract with US Airline Delta in order to supply as well as to utilize its technology. SMS plc recently announced that it is planning to supply Delta with CVM hardware, sensors and related equipment together with authorizations for using the company’s technology. The technology of SMS plc helps in testing and monitoring structural integrity of the items. The long-term agreement is expected to roll out significant revenue for Structural Monitoring Systems plc.
Smart Tower Systems LLC Has Developed New Technology for Engineers & Operators
Smart Tower Systems LLC has developed a new technology named Smart Tower System for engineers, operators and owners, in order to reduce operating costs, enhancing reliability of guyed mast structures, self-supporting towers and poles as well as for maximizing tower assets. The new technology enables in continuously monitoring the actual response and health of a structure exposed to earthquakes, storms and other events. All of these holistic monitoring is done securely and remotely from a mobile phone or office.
Manufacturers and emerging key players can focus on this new technology as they even generate alerts in times when unexpected structural response has been detected. Also, when a site is exposed to high winds and various other dangerous conditions, Smart Tower System generates alert signals. This new technology can connect right away with local weather locations and be incorporated along with on-site anemometers. Apart from this, manufacturers can be benefitted with this Smart Tower System technology as it provides valuable and accurate information to engineers and operators with regards to early detection of any structural concerns.
The major matter to be noted by the key players is that, this new Smart Tower System is so important that the valuable information provided by the technology helps in mitigating risks. As a result of which, even the insurance financiers have planned to provide premium credits to the structure owners installing the new Smart Tower System.
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