I read about a fire detection method I thought was quite clever. It may have even been here.
It involved wrapping an insulated wire around the engine in key places (where ever those are) so it is in contact with metal surfaces. The circuit is connected to power and a light on the panel. The theory is that if there is a fire, the insulation will burn away and the wire will come in contact with the metal on the engine, completing the circuit and illuminating the light on the panel.
The failure point I thought of when I read this was the wire could chafe over time and eventually give a false warning. On the up side, this system would cost about $6 for materials (LED and wire).
Just a thought.
William