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.
Aircraft Lighting Market to Gain Impetus from Continued Focus on Safety
Aircraft lighting systems are used usually for the various categories of aircrafts such as commercial aircrafts, business jets, military aircrafts, and helicopters to meet the objective of safety, navigation, and visibility. Primarily, sales of external and internal lighting systems have driven the opportunities in the aircraft lighting market. The Covid-19 pandemic has considerably changed the contours of the market. Sharp drop in passenger traffic since the pandemic hit the various parts of the world in early parts of 2020, has also led to considerable slump in demand for aircraft lighting systems. New electronics have reduced in popularity, affecting the lucrativeness of the aircraft lighting market. However, safety lighting electronics continued to show some demand. The aircraft lighting market is thus witnessing a steady revenue prospect from the growth in demand in retrofit lights.
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The growing number of urban air mobility platforms is a key trend boosting the avenue in aircraft lighting market. There seems to be limited bargaining power for customers as top players have a good control of the market forces of demand and supply. Thus, the aircraft lighting market witnesses high barrier to entry. This might restrain the market to attain its full potential. New techniques of management of aircrafts have also brought new windows of opportunities to vendors in the market. Electronics manufacturers have witnessing the potential of signage lights and reading lights in tapping into the rise in potential in the aircraft lighting market. Continued focus on safety has been expanding the avenue of innovations, especially among automotive LED manufacturers. There is a demand for new technologies in defense aircrafts. Rise in investments in the defense sector in some of the emerging economies in the world has spurred the prospects in the aircraft lighting market. The advent of new designs in aircrafts has also expanded the horizon for players in the market.
Explosive Ordnance Disposal (EOD) Equipment Market to See Wide Scope of Robotics
Explosive ordnance disposal (EOD) equipment has been added as a key arsenal in bomb disposal for law enforcement agencies and militaries of the world. Over the past several years, numerous countries have been troubled by border infiltration leading to terrorist activities and strikes. In the last few years, rise in geopolitical tensions has further mounted the concerns of law enforcement agencies, militaries, and para-militaries of these nations, propelling the demand for and adoption of explosive ordnance disposal (EOD) equipment. Growing cross-border tensions has also fueled these to modernize the equipment used in bomb detection and disposal in civilian areas. EOD robots have attracted the attention of organizations in the EOD equipment. The high precision and safety are the key value propositions that will keep fueling the demand for robotic explosive ordnance disposal (EOD). The growing defense budgets dedicated to soldier modernization is a key trend bolstering the deployment of robotic technologies in EOD equipment.
Rise in focus on urban security has spurred the deployment of explosive ordnance disposal (EOD) equipment by law enforcement agencies. Over the past decade, there has been several failed attempts in bombing heavily populated areas in various urban spaces by hiding high-end explosive devices, which reiterates the role of advancements made in EOD equipment market. The still-emerging Covid-19 pandemic has changed the strategic frameworks where various industry players operate. It remains to see what long-ranging impacts the pandemic will have on the defense budgets. This factor has played a key role in shaping the EOD equipment market. The high cost of automated EOD equipment still dampens the adoption rate in many countries. However, countries with persistent cross-border terrorisms will keep advancing the arsenal used in EOD, which will impart a significant momentum in the expansion of the EOD equipment market.
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