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1 The current pressure across the entire aerospace industry to reduce operating costs and increase efficiency has arguably never been greater. Thus the need to improve parameters such as availability and reliability, and increase the tools and services associated with more efficient aircraft operations and sustainment is now paramount. Moreover, these improvements are seen by many as important factors that define the differentiation and competitiveness of not only current but also future aircraft fleets. The paper will focus on some of the opportunities for OEMs that arise from implementing Integrated Vehicle Health Management (IVHM) systems on their platforms and the challenges associated with evaluating the costs and benefits of their implementation and operation.