Report : Aircraft Lighting Market to 2025 - Global Analysis and Forecasts by System Types (Cockpit Console Lights, Cabin Lights, Cargo Lights, and Seat Proximity Lights); Technology (Traditional Lights, LED Lights, OLED Lights, and Others); and Light Types (Interior Lights and Exterior Lights); Fit Types (Line Fit and Retro Fit); Aircraft Types (Fixed Wing Aircrafts and Rotary Wing Aircrafts); End User (Commercial and Military)
According to the new research report published by The Insight Partners, titled "Aircraft Lighting Market - Global Analysis and Forecast to 2025", The global aircraft lighting market is expected to grow at a CAGR of 4.2% during the forecast period 2018 – 2025, to account to US$3.03 Bn by 2025.
The global aircraft lighting market is experiencing a decent growth with regards to the investments, trials being carried out and deployment for future in the current scenario. The market for aircraft lighting consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced technologies and products to their customers. The aircraft manufacturers on the other hand, are procuring the advanced technologies from the aircraft component manufacturers to deliver aircrafts integrated with enhanced technologies. This factor is helping the market for aircraft lighting to surge over the period. Moreover, the increase in defense budgets in developing countries as well as developed regions, is facilitating the military forces to procure increased numbers of advanced technology aircrafts as well as aircraft components including different lighting solutions. This factor is helping in proliferation of aircraft lighting market in the current scenario. . Growth in the recent five years is primarily driven by three major factors, such as rising demand for energy efficient aircraft lights and noteworthy increase in aircraft deliveries.
Key findings of the study:
The most prominent region in the current market scenario stands for Asia Pacific owing to the rapid procurement of aircraft by the commercial airlines and defense forces. The market for aircraft lighting is foreseen to witness an expeditionary growth in Asia Pacific region, pertaining to the huge demand for modification or retrofitting of advanced lighting solutions. Asia Pacific is followed by Middle East and Africa region, with the second largest market share in the global aircraft lighting market. Globally recognized and large number of commercial aircraft fleet, Emirates, followed by Qatar Airways, Etihad Airways and Saudi Arabian Airlines invest significant amounts in procurement of newer aircrafts and also in modification of their existing fleet. The airlines constantly focuses on enhancing customer experience, thereby, retrofitting the aircrafts with advanced lighting systems is one of the major trends prevailing in the region.
The market for aircraft lighting market is concentrated with large number of players operating in the field. The major companies operating in the market includes Honeywell International Inc., Cobham Plc., Zodiac Aerospace, STG Aerospace Ltd., Rockwell Collins, Diehl Stiftung & Co. KG, Astronics Corporation, Oxley Group, United Technologies Corporation, and Bruce Aerospace.
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