Aircraft Lighting Systems - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Aircraft Lighting Systems market is accounted for $1,797.67 million in 2018 and is expected to reach $3,222.48 million by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the key factors propelling the market growth include high demand for energy efficient lighting systems in the emerging economies, increase in air travel, and rise in need for light-weighted aircraft components & new technological advancements. However, high initial costs hamper the market growth.
Aircraft lighting system aids two key applications, dedicated exterior light sources and lightens the interior of the aircraft. These systems help to improve the operation of an aircraft by providing visibility, safety, and accuracy. Moreover, various technological developments to enhance the fuel efficiency and performance of the aircraft are performed in these lights. These systems offer clear visibility to pilots for path detection in bad weather conditions and to avoid collision. Similarly, these systems play a crucial role to guide the ground staff while landing and takeoff.
By type, interior lighting system is projected to witness significant growth during the forecast period, due to growing demand for enhancing passenger experience & comfort, and upgradation of existing aircraft lighting with LED technology. It includes reading lights, ceiling and wall lights, signage, floor path lighting strips, and lavatory lights, among others. Airlines are focusing on deploying multi-color interior lighting, to create an ambiance as per the demand or mood of the passengers. This lighting system offers a simulated lighting environment and changing the lighting spectrum from day to night.
On the basis of geography, North America is expected to have considerable market growth during the forecast period, due to increase in air traffic and rise in competition among the existing aircraft operators. As per the International Air Transport Association (IATA), the profitability of the North American airline industry is expected to increase, owing to declining fuel prices. Moreover, the implementation of low-cost carrier (LCC) business model in the U.S. along with the introduction of ultra-low-cost carrier (ULCC) business model are expected to boost the commercial aircrafts market in the U.S., fueling the aircraft lighting systems market.
Some of the key players in aircraft lighting systems market include Goodrich Corporation, Aveo Engineering Group SRO, Astronics Corporation, Diehl Stiftung & Co. Kg., Zodiac Aerospace, United Technologies Corporation, B/E Aerospace, Inc., Luminator Aerospace, Cobham PLC., Honeywell International Inc., STG Aerospace Limited, Geltronix Aviation Light, Soderberg Manufacturing Company Inc., JB Industries, Control Products Corporation, Lufthansa Technik, Green & Safety Technology Co. Ltd., Oxley, and Bruce Aerospace.
Aircraft Types Covered:
• Very Large Aircraft
• Regional Jets
• Wide Body Aircraft
• Narrow Body Aircraft
• Commercial Aircraft
• Military Aircraft
• Cargo Aircraft
• Business Aircraft
Light Types Covered:
• Light-Emitting Diode (LED)
• Organic Light Emitting Diodes (OLED)
• Exterior Lighting System
• Interior Lighting System
• Service Lighting
• Passenger Service Unit
• Cockpit Control Unit
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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