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Aircraft Lighting Market: Segmented: By End User (OEM and Aftermarket); By Light Type (Interior Lights and Exterior Lights); By Aircraft Type (Commercial Aviation,Military Aviation,Business Jets & General Aviation and Helicopters) and By Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Aircraft Lighting Market to surpass USD 2724.9 million by 2031, which is valued at 1478.6 million in 2021 at a compound annual growth rate of 6.3%
Aircraft illumination is a critical part of the structure of aviation. It provides for aircraft operation safety, visibility, and accurate navigation. Various technology-based developments have been accomplished which improve performance and fuel efficiency. These lights give pilots in the cockpit good vision to avoid the collision and to rectify the course under harsh climatic conditions. The aircraft lighting plays a valuable role in signaling ground personnel during takeoff and landing. New aircraft lighting systems have a revolutionary working design that saves fuel and reduces power consumption. These lighting systems are divided into two segments: aircraft lighting at the interior and exterior. For security and protection reasons, external aircraft illuminations are used to make the aircraft more visible to other aircraft. They also boost pilot visibility during takeoff and landing of flights. It includes strobes, devices for navigational lighting, beacons, and appliances. The interior lighting systems are used to offer the cargo hold, cockpit, and cabin lighting. The lights are mounted on reading lights, ceilings, mood lighting, and sidewalls.
The use of energy-efficient aircraft lights, efficient lighting alternatives,s and growth in aircraft deliveries are factors increasing the growth of the aircraft lighting market. Increased advancements in aircraft and the introduction of aircraft modernization programs across the globe also increase the growth of the aircraft lighting market.
By the end-user type, the global Aircraft Lighting Market is segmented into the Original Equipment Manufacturer (OEM) and Aftermarket. The Asia Pacific area has seen a significant rise in demand for single-aisle aircraft. OEMs offer products for lighting which can be customized to suit the airline's ambiance. Growing aircraft deliveries, and growing airlines emphasis on implementing customized lighting to improve passenger comfort, are projected to boost OEM segment development.
The aircraft lighting market is segmented by light type into Interior lights and exterior lights. Interior lighting influences passenger mood; thus, manufacturers concentrate on designing mood interior lighting items, which would be capable of changing colors according to passenger demands and moods which is expected to increase growth for the interior light segment.
By Aircraft type, the market can be categorized into Commercial Aviation Military Aviation, Business Jets & General Aviation, Helicopters. With the rise of tourism through commercial helicopters, demand for advanced cabin comfort features is growing, which in turn increasing demand for customizable interior as well as exterior lighting. Furthermore, the growing demand for helicopters used in civilian uses, such as emergency medical services, contributes to the rising growth of the segment for helicopters. The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Use of energy-efficient aircraft lights and aircraft delivery growth to increase the market for aircraft lighting
The use of energy-efficient aircraft lights, efficient lighting alternatives,s and growth in aircraft deliveries are factors increasing the growth of the aircraft lighting market. Increased advancements in aircraft and the introduction of aircraft modernization programs across the globe also increase the growth of the aircraft lighting market.
Economic uncertainty and delays in aircraft deliveries to restraint the growth of the Aircraft lighting market
Global economic uncertainty acts as a restraint in the global aircraft lighting market. Factors such as delays in aircraft deliveries and a decline in airline profitability in developing regions are also hampering the market growth.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA. North America is expected to hold the highest CAGR and dominate the regional segment owing to the high demand for air travel and enhance flight experience. The increased passenger traffic in the area is expected to lead to an increase in aircraft orders, which, in turn, is anticipated to increase the demand for aircraft lights. Furthermore, the high demand for aircraft lighting products in North America can also be due to the presence of major key players in the region. Additionally, huge demand from aircraft OEMs and airlines for highly efficient LED lights is also said to reduce carbon emissions in the region thereby propelling the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
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