According to the new research report published by The Insight Partners, titled “Airport Lighting Market - Global Analysis and Forecast to 2027”, The Global Airport Lighting Market is expected to reach US$ 1.04 billion in 2027, registering a CAGR of 7.7% during the forecast period 2019-2027.
In 2018, Asia Pacific accounted for the largest share in the airport lighting market and is expected to be the fastest-growing region. In the current market scenario, the growing number of air passengers in this region is pressurizing the airport authorities to expand their terminals. Similarly, an increasing number of aircraft fleet is driving the interest in runway expansion among different airport authorities. APAC region is expected to witness significant growth in a number of air passengers; thus, the governments are engaging themselves in expanding their existing airports as well as construction of new airports in different locations. Some of the new airport construction o ongoing in APAC countries are Beijing International Airport (China), Chengdu Shuangliu International Airport (China), Dalian International Airport (China), Navi Mumbai International Airport (India), Pune International Airport (India), and West Sydney Airport (Australia) among others, which are driving the airport lighting market. Various initiatives are taken by the market players to boost the airport lighting market in the region. For instance, in 2018, ADB SAFEGATE lights powered India’s first runway of Kempegowda International Airport, Bengaluru. The company supplied SafeLED lights, constant current regulators (CCRs) for cables, power management, lighting and control systems.
In the recent years, airport lighting market has noticed noteworthy product innovation and partnership activity. Some of the significant deals include, in 2019, Honeywell entered into a joint venture with Dubai Air Navigation services under Vision 2020 for providing airside solutions as well as in the development of new airport which includes airfield lighting products. Similarly, in the same year, Astronics launched new ambient lighting for aircraft cabins namely: “Nuancia RGBW Strip Lights”. These lighting provides flexible illumination options to aircraft cabins and seats. Such strategies would enhance the company’s product portfolio as well as the company’s presence globally.
Based on type, the approach indicator lights is expected to dominate the airport lighting market during the forecast period. The increasing procurement of lighting system supporting the pilots in proper landing is capitalizing the market valuation of approach light systems (ALS) and precision approach path indicator (PAPI) lights. Pertaining to the fact that the airport authorities are seeking cost-efficient lighting products with higher output, the demand for LED-based ALS is growing in the current scenario. Airport Lighting Market to 2027 - Global Analysis and Forecasts by Type (Airport Beacon, Obstruction Lights, Approach Indicator Lights, Runway Centerline Lights, Taxiway Lights, Others); Application (Existing Airport and New Airport)
Airport Lighting Market Size, Share, Outlook By 2027
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Key findings of the study:
China holds the largest airport lighting market share in the Asia Pacific region. The country has invested significant amount in the renovatation of airports in recent years, and the remodeling projects are expected to finish by 2019-2020. According to CAPA Airport Construction Database, the country has invested huge amount in renovation of airports in recent years, and the remodeling projects are expected to finish by 2020. The remodeling of airport infrastructure includes expansion of runways, the extension of taxiways, and construction of expanded airport terminals. This has led airport lighting market players to supply and install their products, thereby, making decent profit. For instance, in 2018, OCEM announce the opening of new sales and technical support center in India to expand and meet the requirement of Indian airports. In 2017, Honeywell signed a contract with Singapore Changi Airport, to install new airfield monitoring system and ground lighting control. This contract includes the installation of lighting products across three runways as well as connected taxiways, apron lighting, and taxi lanes. This factor would help the APAC market to maintain its share in the airport lighting market.
Market initiatives such as acquisition, partnership, and contracts are expected to be the key growth strategy adopted by players for the next two-three years. However, such strategy impacts the competition; it is also likely to generate new product and market opportunities as recently combined companies will thrive to maintain position and profitability.
Some of the key players operating in the airport lighting market are ADB Safegate, Airfield Lighting, Astronics Corporation, Avlite Systems, Carmanah Technologies, Eaton (Cooper Industry), General Electric, Honeywell International Inc., OCEM Airfield Technology, and OSRAM GmbH among others.
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