1. A structural and component health monitoring system comprising: a plurality of sensor systems positioned about an object to be monitored; a processing system communicatively coupled to at least one of said plurality of sensor systems, said processing system comprises: an ontology and reasoning module configured to model the object to be monitored, reason about the received sensor data associated with the object to be monitored and reason about the relationships between the received sensor data to fuse the data into contextual information for the overall object to be monitored; and a contextual analyzer configured to transmit the received sensor data to said ontology and reasoning module and to store the information into a contextual information database.