STRUCTURAL HEALTH MONITORING MARKET ANALYSIS

Key Developments

• In June 2023, Samsung Heavy Industries Co., Ltd., a leading shipbuilding company, announced that its Hull Stress Monitoring System (HSMS) has received the ABS SMART Tier 2 approval in principle (AIP) from the American Bureau of Shipping (ABS). This achievement is part of a joint development project between Samsung Heavy Industries and ABS, aimed at improving hull safety through the use of smart ship technology. The AIP confirms that the HSMS design is feasible and meets the ABS SMART Tier 2 requirements, which include monitoring vessel-specific loads and operations, providing periodic updates on structural conditions, and utilizing physics-based analysis for a comprehensive assessment and prediction of structural health.
• In October 2022, Sumitomo Heavy Industries Marine & Engineering (SHI-ME), a leading shipbuilding company, partnered with Light Structures AS, a specialist in structural health monitoring solutions. As part of this collaboration, SHI-ME selected Light Structures' SENSFIB Structural Health Monitoring system for the third vessel in a series of crude oil tankers being constructed for Samos Steamship.
• In August 2022, FDH Infrastructure Group, LLC, a leader in engineering investigations of critical structures and developer of global technology solutions, acquired Smart Tower Systems, LLC - a wholly-owned subsidiary of Rohn Products, LLC. Smart Tower is a structural health monitoring (SHM) system designed and manufactured in the U.S. to support various infrastructure assets, including telecom, transmission, and wind turbine towers, as well as petrochemical structures, bridges, tall buildings, and elevators.
• In April 2022, Structural Monitoring Systems Plc (SMS), a leading provider of structural health monitoring solutions, announced that its Comparative Vacuum Monitor (CVM) sensor technology had received approval from the Federal Aviation Administration (FAA). This milestone approval opens up numerous opportunities for SMS to integrate and utilize its CVM technology platform across various applications and programs within the aviation industry.
• In January 2022, Oracle Corporation announced that Xerox, a leader in office and production print technology, had selected Oracle Cloud to support the launch of new ventures aimed at addressing significant global challenges at a massive scale. By utilizing Oracle Cloud solutions, Xerox will introduce innovative technologies to the market, with a primary focus on 3D printing for manufacturing, structural health monitoring for critical infrastructure, and augmented reality to improve customer support.

*Definition: The global structural health monitoring market involves the implementation of damage detection systems for inspecting large civil infrastructure like buildings, bridges, and other structures. It utilizes sensors connected to monitoring devices that can continuously assess the performance and integrity of structures, detect flaws or damage early on and help prevent catastrophic failures. By evaluating stresses and strains, vibration characteristics and corrosion patterns over time, structural health monitoring technologies help maintain safety and extend the useful life of critical assets through predictive maintenance and repairs.