Information management and monitoring system and method for monitoring
components on a vehicle during its operation includes a monitoring system
including sensors for monitoring the components operation thereof, and a
processing module arranged on the vehicle and to receive and process data
about the monitored components from the sensors. The module derives
information from the data about the monitored components to determine
whether any component is operating in a non-optimal manner and/or to
forecast failure of any component. A wireless communication system is
arranged on the vehicle and coupled to the module for enabling wireless
communications of derived information from the module to a remote entity
interested in the operation or failure of any component during operation
of the vehicle. The communication includes information about the presence
and identity of any non-optimally operating component or component
forecast to fail.