The Aircraft Lighting Market size is expected to reach US$ 2.36 billion by 2028; registering at a CAGR of 5.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Significant Growth in Aircraft Production to Provide Growth Opportunities for Aircraft Lighting Market During 2022–2028
The aircraft manufacturing industry has the presence of large number well-established companies across the globe. Hence, the bargaining power of buyers in the aircraft lighting market is high at present. However, the bargaining power of buyers is estimated to reduce to a moderate level in the coming years. Aircraft manufacturers such as Airbus, Boeing, Lockheed Martin Corporation, Bombardier, Dassault, and Textron Systems compete to provide customers with the best products. Owing to this, aircraft manufacturing companies switch aircraft component contractors over a period to enhance the systems. Due to the presence of large number of aircraft manufacturers in the industry, the demand for aircraft lighting is increasing rapidly. As a result, aircraft manufacturers award the aircraft lighting manufacturers with a minimum amount of contract. In addition, the growing aircraft production is increasing the global aircraft fleet, demanding advancements in aircraft design and lighting requirements to enhance the aircraft’s operational efficiency and passenger air travel experience. For instance, Boeing delivered 157, 340, and 363 commercial aircraft globally in 2020, 2021, and till October 2022, respectively. This shows that the rise in the number of aircraft products is driving the aircraft lighting market.
The aircraft manufacturing & aftermarket industry is experiencing a substantial demand for various technologically advanced components. The inclination curve of air passenger travel is constantly climbing across geographies, pressuring aircraft manufacturers to deliver an increased number of aircraft. In a global scenario, air passenger traffic is anticipated to maintain continuous growth, regardless of various challenges faced by commercial airlines such as aviation fuel price and other monetary changes in respective countries. However, these challenges are overcome by the surge in the number of passengers globally. The low-cost carriers (LCC) in developed and developing economies are revolutionizing the aviation market by offering low-fare business models and facilitating air travel among upper and middle-class societies in developing nations. This is boosting aircraft operations, catalyzing the demand for aircraft MRO operations, and thereby bolstering the demand for aircraft lighting for the retrofit segment.
The aircraft lighting system market is experiencing a steep demand in terms of procurement among various commercial airlines and defense forces. Attributing to the enormous demand for technologically advanced aircraft exterior and interior lighting solutions, the well-established airliners as well as defense forces across North America, Europe, Asia Pacific, the Middle East & Africa, and South America are pressurizing the lighting manufacturers to develop innovative and robust lights. In addition, airliners are encountering enormous demand from passengers related to mood lights to integrate their aircraft with advanced lighting solutions is further catalyzing the aircraft lighting market growth. Further, the demand for aircraft lighting for unmanned military aircraft models is also rising which is further bolstering the aircraft lighting market growth. For instance, in February 2021, the US Navy awarded a contract to Astronics Corporation for power distribution and exterior lighting systems to support their Boeing MQ-25 Unmanned Tanker aircraft. Similarly, the Indian Ministry of Defense signed a contract with Airbus Defence and Space, Spain, to acquire 56 C-295MW transport aircraft for the Indian Air Force. Such developments are catalyzing the deployment of aircraft interior and exterior lighting solutions.
The global aircraft lighting market is experiencing decent growth with regard to the investments, trials being carried out, and deployment for the future in the current scenario. The aircraft lighting market consists of some well-established players across the globe, which invest huge amounts in delivering the most advanced technologies and products to their customers. The aircraft manufacturers, on the other hand, are procuring advanced technologies from the aircraft component manufacturers to deliver aircraft integrated with enhanced technologies. This factor is fueling the growth of the aircraft lighting market. Moreover, the increase in defense budgets in developing and developed countries is facilitating the military forces to procure an increased number of advanced aircraft and aircraft components, including different lighting solutions. This factor is helping in the proliferation of the aircraft lighting market in the current scenario.
Aircraft Lighting Market – by Region, 2022
Aircraft Lighting Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Cockpit Console Lights, Cabin Lights, Cargo Lights, Seat Proximity Lights, and Others), Technology (Traditional Lights, LED Lights, OLED Lights, and Others), and Light Type (Interior Lights and Exterior Lights), Fit Type (Line Fit and Retrofit), Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft), and End User (Commercial and Military), and Geography (North America, Europe, Asia Pacific, and South and Central America)
Aircraft Lighting Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Based on aircraft type, the aircraft lighting market is bifurcated into fixed wing and rotary wing. The fixed wing segment is expected to dominate the aircraft lighting market in 2022 and is expected to retain its dominance during the forecast period. This can be attributed to the rise in fixed wing aircraft production across different regions by aircraft OEMs such as Boeing and Airbus, which is generating new market opportunities for aircraft component manufacturers, including lighting system companies. According to Boeing and Airbus forecasts, more than 24,000 fixed wing commercial aircraft are expected to be delivered by the end of 2041, which is expected to create many opportunities for aircraft lighting market players during the forecast period.
The key players operating in the aircraft lighting market include Honeywell International Inc, Cobham Plc, Safran, STG Aerospace Ltd, Collins Aerospace, Diehl Stiftung & Co. KG, Astronics Corporation, Oxley Group, Talon Aerospace LLC, and Bruce Aerospace. The aircraft lighting market players are collaboratively working with different airline companies and aircraft OEMs to cater to their specific demands and remain competitive in the market.
- In January 2022, Collins Aerospace won a contract to become a long-term supplier of the next generation of lavatories for Boeing’s 737 aircraft family. This new lavatory system incorporates a modular design and customization opportunities for trim, finish, and lighting; touchless functionality; micro-LED lighting technology; and a centralized computing system that allows for enhancing the customers’ air travel experience.
In April 2019, STG Aerospace, an aircraft cabin lighting company, won a major deal to supply its LED lighting system, liTeMood, to TAP Air Portugal. Under the contract, the company will supply its liTeMood for the retrofit of the airline’s Airbus A330 aircraft fleet
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