Update News: Aircraft Lighting Market To Reach USD 2.8 Billion By 2027 | CAGR 5.6% — Forencis Research
Global Aircraft Lighting Market: Key Highlights
- According to the new market research report “Aircraft Lighting Market by Illumination Technology (LED, Fluorescent, Incandescent), by Type (Exterior, Interior, Emergency), by Aircraft Type (Single Aisle, Twin Aisle, Business and General Aviation, Others) by Sales Channel (OEM, Aftermarket), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) — Global Forecast (2019 to 2027)”, the global aircraft lighting market is estimated to reach USD 2.8 Billion by 2027 at a CAGR of around 5.6% during the review period.
- Increasing demand for energy efficient lightings and expanding adoption of mood lighting as a feature in the aircraft are few key factors among others driving the demand for aircraft lighting.
- However, high initial cost of LED type lights remains a major restraining factor for the growth of the aircraft lighting market.
Global Aircraft Lighting Market: Key Market Dynamics
- Increasing adoption of mood lighting is expected to drive the market of aircraft lighting as the aircraft manufacturers are incorporating mood lighting as the mandate feature in the aircraft which will result in increased sale of LED lighting.
- High up front cost is expected to restrain the market as the lighting based on LED technology requires high initial cost compared to conventional illumination technology.
- Adoption of micro LED technology is expected to rise the market in near future as the technology is more efficient and more suitable for flexible lighting systems compared to conventional technology.
Global Aircraft Lighting Market: Regional Overview
The aircraft lighting market in the Asia-pacific region is predicted to grow at the highest growth rate. Owing to the facts such as increasing population, and increasing number of travelers using air route the aircraft industry is expected to grow in the region. According to International Air Transport Association (IATA), in 2019 highest air traffic was in Asia-pacific region with the share of 34.3%. Thus, such increasing air traffic in this region can be a boosting factor for the growth of the market in the region.
Aircraft lighting market is expected to show substantial growth in the European region. Due to the presence of the major aircraft manufacturers in the region the market can grow notably. Airbus and its subsidiaries, Daher and Dassault Aviation have their businesses in the European region, this intensifies the demand for the aircraft lighting in the region.
Global Aircraft Lighting Market: Key Players Overview
- Astronics Corporation:
Astronics Corporation is a US-based multinational company that provides technological solutions and services to aerospace, defense and other such industries. The company product portfolio is segregated into six segments named power & motion, connectivity & data, lighting & safety, interiors, services & structures, and test solutions. Under aircraft lighting and safety solutions category the firm serves with exterior lighting, cabin lighting and cockpit lighting among others. In 2019, the firm launched Nuancia RGBW Strip Lights, the product can fulfill the requirement of flexible lighting systems in seats and cabin of the aircraft.
Safran is a France-based global aerospace and defense company engaged in the manufacturing of aircraft engines, rocket engines and other aerospace components. The company product portfolio is categorized as aviation, space, and defense. In 2019, firm introduced a new type of cabin illumination based on edge lighting technology at Aircraft Interiors Expo. Also the company exhibit another innovation in the Expo that is integrated lighting in the lavatory mirror.
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