Global Aircraft Lighting MarketReport, published by Variant Market Research, forecast that the global market is expected to reach $3.32 Billion by 2025 from $2.19 Billion in 2017, growing at a CAGR of 5.3% from 2017 to 2025. By Geography, Asia-Pacific and RoW are expected to grow at a CAGR of 7.3% and 5.6%, respectively, during the forecast period.
“Aircraft Lighting Market “Aircraft Lighting Market (By Aircraft Type: Small Widebody Aircraft, Medium/ Large Widebody Aircraft, Narrow Body Aircraft, Propeller Aircraft, Helicopter, Defense and Homeland Security Aircraft, Freighters; By Lighting Type: Interior Light, and Exterior Light.; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025”
The global aircraft lighting market is mainly driven by increase in aircraft deliveries
The primary factors to drive the growth of the global aircraft lighting market include rising aircraft industry and air travel, and increasing aircraft deliveries. In addition, well-organized alternatives to existing interior lights have also encouraged the growth of the market. Though, existing backlog of aircraft deliveries may hamper the market growth. Moreover, new technological advancement and energy efficient lights, and aircraft interior lighting technologies are likely to disclose new avenues in the market in the forthcoming years.
The global aircraft lighting market is mainly classified on the basis of aircraft type, lighting type, and geography. Aircraft type segment is bifurcated into small widebody aircraft, medium/ large widebody aircraft, narrow body aircraft, propeller aircraft, helicopter, defense and homeland security aircraft, freighters. By lighting type, the market is classified into interior light, and exterior light. Moreover, interior light segment is sub segmented into signage lights, floor path strips, reading lights, ceiling and wall lights, and lavatory lights. Further, exterior light is sub categorized into landing lights, wings & engine inspection lights, runway turn off lights, anti-collision lights, cargo and service lights, logo lights, emergency lights, position lights, and takeoff lights.
The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, Italy, UK, and Rest of Europe are analyzed under the European market. India, China, Japan, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Narrow body aircraft, by aircraft type segment led the market with major share in 2017
Narrow body aircraft contributed for the majority of the share in 2017, in the aircraft type segment, and is expected to continue its trend during the forecast period. The major reason for growth is its high demand from airline carriers. Also, the freighters aircraft type segment is anticipated to register a significant CAGR throughout the forecast period.
Interior light dominated the lighting type segment in 2017
Interior light occupied the largest market share in the lighting type segment and is likely to continue its dominance throughout the forecast period. The high growth is attributed to an upsurge in the demand for wall lighting and ceiling for aircraft. Moreover, rising focus on safety compliance and passenger experience are factors propelling the growth of the market.
Asia-Pacific is expected to be the fastest growing market during the forecast period
In 2017, Asia-Pacific accounted for 20.5% revenue share of the global market. Also, the region is likely to achieve the fastest CAGR of 7.3% during the forecast period 2017 – 2025, owing to an upsurge in air passenger traffic in developing countries such as China and India, and increase in commercial aircraft manufacturers in the region.
Prominent players operating in the market include Rockwell Collins, Honeywell International Inc., ZODIAC AEROSPACE, Diehl Stiftung & Co. KG, Cobham plc, Astronics Corporation, Precise Flight, Inc., SODERBERG MANUFACTURING COMPANY INC., Oxley Group, and Heads Up Technologies, among others.