Global Aircraft Lighting Market foreseen to reach around USD 2 billion by 2025
The global Aircraft Lighting Market was worth USD 826 million in 2020, and it is estimated that it will reach a valuation of USD 1.9 billion by 2025 at a CAGR of 9.2% during the conjecture period.
Aircraft lighting is an important component of aviation structures. It provides safety, visibility, and precise navigation for aircraft operation. These lights provide clear visibility to the pilot in the cockpit, avoiding collisions and correcting the route in adverse weather conditions. Several developments have been made based on technology that improves performance and fuel economy. Aircraft lighting plays a useful role in visualizing ground personnel during takeoff and landing.
In March 2019, Astronics launched Nuancia RGBW Strip Lights, a lighting system that provides a variety of lighting options for aircraft seats and cabins. This has helped the company expand its portfolio of lighting products.
Market Drivers and Restrains:
The global demand for aircraft lighting market is increasing due to the development of the aviation industry. Aircraft lighting systems help improve safety and performance, so there is a desperate need to improve lighting systems. This factor has recently played an important role in the growth of the global aircraft lighting market. The global aviation industry has emerged as a lucrative center of opportunity, and several new investments have entered this industry. Significant economic growth in developing countries, as well as in small regions that are making significant efforts to improve their fiscal position, are other factors driving the aviation sector and indirectly affecting the growth of the aircraft lighting market. The increasing number of passengers and the preference for air travel is the driving force behind the aircraft lighting market. Advances in technology, smart lighting solutions, the introduction of LED lighting and new-build light products are some of the development factors driving the demand for aircraft lighting.
The growing demand for aircraft to meet transportation needs, the emergence of new players in the field of aircraft manufacturing and the development of low-cost aircraft have increased the demand for aircraft lighting systems. The line of sight of the aircraft is established with the help of a solid lighting system. Various types of lighting systems are used during aircraft manufacturing. Factors such as increased demand for aircraft and the transition from incandescent to LED lighting are expected to drive the global aircraft lighting market. This factor suggests a broad portfolio of products for the global aircraft lighting market. Furthermore, the need to maintain uniform control over the aircraft is also satisfied with the help of acoustic lighting systems. Increased demand for light aircraft components is expected to provide favorable opportunities for global market growth in the near future. The high cost of LEDs and aircraft delivery delays are expected to slow the growth of the aircraft lighting market during the forecast period.
To know more read:
Report is segmented as:
The global aircraft lighting market is segmented into exterior lighting, interior lighting, lighting types, and aircraft applications. By interior lighting, the market is segmented into emergency lighting, special lighting, washing lighting, reading lighting and bathroom lighting. Based on exterior lighting, it is divided into aircraft visibility lighting, pilot lighting and special purpose lighting. Depending on the type of aircraft, it is divided into executive, military, commercial and helicopter jets.
On the basis of geography, the global aircraft lighting market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. The aircraft lighting market in North America is increasing due to advances in the aviation sector in the United States and Canada. The region’s travel and tourism sector are also currently on several growth paths. This factor has also driven the growth of the aircraft lighting market in North America. As the number of airlines based in the region increases, they enjoy the market advantage.
Impact of COVID 19 on Aircraft Lighting Market
The COVID-19 pandemic has had a major impact on the line-tuning aspect of aircraft lighting, as several airlines postpone delivery schedules and force aircraft original equipment manufacturers to reduce monthly production of new planes. The aftermarket outlook for aircraft lighting has increased. In the absence of new aircraft, airlines prefer to modernize the cabin design of existing aircraft to keep the level of service on par with new aircraft.
Key market players:
Major players in the global aircraft lighting market include Diehl Stiftung & Co. Kg, Cobham PLC, Astronics, Zodiac Aerospace, STG Aerospace Limited, Luminator Aerospace, B/E Aerospace, Inc., Honeywell International Inc. and United Technologies Corporation.
View sample and decide:
Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
For more information:
Sales Manager at Market Data Forecast