Aircraft parameter and position remote monitoring is a reality. A proven technology already exists for this and it is being used.
AFIRS, originally developed by Canadian AeroMechanical Services, a service now offered by
Flyht, can radiate data for flight following and remote system monitoring to base through the Iridium satellite network at a regular rate. It can be programmed, though, to enter continuous transmission mode in the event abnormal aircraft parameters are detected.
It can at present be interfaced to several aircraft systems to report, for example, engine trend, fuel, exceedance alarms, etc.
The potential is there.