The global aviation warning lights market is projected to expand at a CAGR of 6.5% during the forecast period. According to the report, the global market would continue to be influenced by a range of macroeconomic and market-specific factors in the near future.
Increasing demand for high-rise skyscrapers and government regulations and policies to increase the adoption of obstruction lights for aircraft safety have increased the penetration of aviation warning lights worldwide.
LED Segment to Remain Highly Lucrative
In terms of lamp type, the global aviation warning lights market has been segmented into LED, xenon, and incandescent. The LED segment is expected to continue to lead the global market during the forecast period, due to advantages offered by the LED technology. The segment is projected to expand at the maximum CAGR of 7.1% from 2019 to 2027. Obstruction lights are LED-based distinctive lights that are used as warning lights indicating the presence of obstructions. These warning lights are crucial for use during the night or in conditions with poor visibility. A recent development is the use of arrays of high-power red LEDs in place of incandescent bulbs, which has only been possible since the development of LEDs of sufficient brightness. LED-based lamps have a significantly longer lifespan than incandescent bulbs, which reduces maintenance costs and increases reliability, thereby boosting the demand for LED aviation warning lights. Furthermore, several manufacturers are focusing on developing medium-intensity white strobes based on the LED technology to replace xenon. Xenon flashers, while being more impressive visually, tend to require frequent replacement. Hence, they have become a less-favored option. Benefits offered by the LED technology are expected to propel the LED segment during the forecast period.
North America to Continue to Hold Maximum Share of the Global Market
In terms of revenue, North America accounted for the maximum share of the global aviation warning lights market in 2018, due to growing construction activities and rising investments in new airports in the region. Furthermore, presence of a large number of high-rise buildings and towers in the region is augmenting the market in North America. The U.S. held the maximum share of the aviation warning lights market in North America in 2018. The market in the country is estimated to expand at the maximum CAGR during the forecast period. Rapid growth of the construction industry and early adoption of LED aviation warning lights are some of the factors likely to fuel the market in the region. The market in Europe is likely to witness significant growth during the forecast period. Development of aviation infrastructure and rising investments are fueling the aviation warning lights market in several countries of Europe. The U.K. held the maximum share of the Europe market in 2018. Demand for aviation warning lights systems in Asia Pacific is likely to remain concentrated in China, India, and Japan in the near future, owing to growing construction activities and rising incidence of aircraft accidents in these countries. Among countries in Asia Pacific, the market in India is estimated to expand at the maximum CAGR during the forecast period, due to presence of a significant number of tall buildings and telecommunication towers in the region. Market players are increasing their investments in the market in Middle East & Africa (MEA) to expand their presence. The market in GCC is expected to expand at a significant CAGR during the forecast period, due to growing penetration of aviation warning lights in the sub-region. In terms of revenue, Brazil is expected to hold a significant share of the aviation warning lights market in South America throughout the forecast period.
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The profiling of key players operating in the global aviation warning lights market includes company overview, major business strategies adopted, SWOT analysis, and market revenues for years from 2016 to 2018. Key players operating in the global aviation warning lights market are Astronics Corporation, Avlite Systems, Cooper Industries Inc. (Eaton Corporation plc), Delta Obstruction Lighting Ltd, DeWiTec GmbH, Flash Technology, LLC. (SPX Corporation), Wetra Aviation Obstruction Lights, Drake Lighting, Inc., Dialight plc, Contarnex Europe Limited, Avaids Technovators Pvt. Limited, Hughey and Phillips, LLC., Orga BV, Q-AVIATION, Farlight, and Sirena SpA.
