This paper focuses on new component designs, coatings and enhanced materials, referred to here as Self-Monitoring Materials (SMMs). SMMs are specifically designed to enhance observability of precursors (e.g., residual stress, surface condition), usage (e.g., stress, temperature, vibrations), damage states (e.g., fatigue and corrosion characteristics) and events (e.g., overloads and overheating) that govern the progression of damage and remaining life of critical components and systems. For example, new components made of an ideal SMM might be used to track fleet usage. One approach is the potential use of components fabricated from SMMs that provide the capability to assess fatigue damage in fatigue tests or on aircraft. For example, austenitic stainless steels have been shown to gradually transition throughout fatigue life from low permeability (µ=1.0) state to higher permeability as strain-induced martensite forms with accumulation of fatigue damage. Thus, a critical fitting or structural member might be replaced with a component made of an SMM with such behavior. Sensor technology such as MWM-Arrays can then be used to nondestructively image the progression of precrack fatigue damage not only at the surface but throughout the thickness of the component. Furthermore, SMM coatings might be placed between layers or on the surface of a rotating component to further enhance observability of critical usage and damage states. This is also possible for enhanced process monitoring. For example, a weld might have SMM markers (constituents or alloying elements) introduced to enhance capability to monitor residual stress. This paper addresses an array of possible uses for such SMMs in aerospace applications.