The demand within the global market for aircraft lighting has been rising on account of advancements in the aviation industry. There is a stellar need for improved lighting systems in aircrafts as it helps in enhancing safety and improving performance. The global aviation industry has transcended as a lucrative hub of opportunities, and several fresh investments have flown into this industry. This factor has played a vital role in the growth of the global aircraft lighting market in recent times. Several types of lighting systems are used while manufacturing aircrafts. This factor is suggestive of an expansive product portfolio for the global aircraft lighting market. The line of sight for aircrafts is established with the help of robust lighting systems. Furthermore, the need for maintaining seamless control over the aircraft is also met with the help of sound lighting systems.
A report published by Transparency Market Research (TMR) predicts that the global aircraft lighting market would reach a value of US$ 3,300 Mn by 2026-end. Furthermore, the global aircraft lighting market is projected to grow at a sluggish CAGR 4.60% over the period between 2017 and 2026.
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This is Transparency Market Research (TMR)’s report preview on the global aircraft lighting market. It elucidates several segments pertaining to the global aircraft lighting market. This shall help the readers in getting more clarity about the trends and propensities pertaining to the global aircraft lighting market. Furthermore, regional dynamics of the global aircraft lighting market have also been explained herein.
Signage Lights to Gather Tremendous Popularity across Global Aviation Industry
The global market for aircraft lighting can be segmented into multiple segments. On the basis of lighting type, the aircraft lighting market can be segmented into ceiling and wall lights, exterior lights, landing lights, reading lights, signage lights, cockpit lights, anti-collision lights, wings and engine inspection lights, and position lights. Amongst these, the demand for signage lights is expected to grow at a robust pace due safety concerns related to signage. Furthermore, anti-collision and landing lights are indispensable for manufacturing aircrafts. Based on the type of aircraft, the demand for wide-body aircrafts has exceeded the demand for narrow-bodied aircrafts. Besides, defense and security aircrafts have emerged as a key national asset for regional territories. Based on the type of fit, the popularity of retrofit lights has surpassed the demand for inline-fit lights. The two types of platforms used for lighting systems are rotary and fixed wing.
North America Aircraft Lighting Market to Gather Momentum
On the basis of geography, the global aircraft lighting market has been segmented into: North America, Latin America, the Middle East and Africa, Europe, and Latin America. The market for aircraft lighting in North America has been rising on account of advancements in the aviation sector across the US and Canada. The travel and tourism sector in the region also boats of several growth avenues in the current times. This factor has also impelled the growth of the market for aircraft lighting in North America. Increasing number of airlines that have their base the region has also played to the advantage of the market. Other key regional markets for aircraft lighting include Europe, the Middle East and Africa, Asia Pacific, and Latin America.
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Some of the key vendors in the global aircraft lighting market are Cobham plc, Honeywell International Inc., UTC Aerospace Systems, Diehl Stiftung & Co. KG, and Astronics Corporation.