Aircraft Lighting Market

Global Aircraft Lighting Market Size (2023 to 2028)

The global aircraft lighting market is expected to be worth USD 1.34 billion in 2023. It is expected to grow at a CAGR of 5.80% during the forecast period and reach a value of USD 1.78 Billion by 2028.

Aircraft lighting is a vital component of the aviation system. It provides protection, visibility, and correct navigation for aircraft service. Numerous advances have been made on the basis of the technology that enhances performance and fuel consumption. Such lights give the pilots in the cockpit visibility in order to avoid accidents and to correct the course in harsh climatic conditions. Aircraft lighting plays a useful role in indicating the ground personnel at the time of take-off and landing.

MARKET DRIVERS:

The increase in the number of passengers and their preference for air transport is a driving factor for the aircraft lighting industry. Significant economic growth in developing countries, as well as in small regions making considerable efforts to improve their financial status, are other factors driving the aviation sector that indirectly impact aircraft market growth. Rising demand for aircraft to meet transport needs, new players emerging in aircraft production, and the development of low-cost aircraft. Advances in engineering, intelligent lighting solutions, the advent of LED lights, and newly constructed lightweight products.

Besides, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different geographic regions. High demand for energy-efficient lighting systems in emerging economies, such as Asia-Pacific and LAMEA, along with increased privatization of airline companies, is expected to provide numerous growth opportunities during the forecast period.

MARKET RESTRAINTS:

Customized lighting systems and equipment have been developed by leading market players to meet the needs of customers. Also, they concentrate on exploring innovations and applications through software demonstrations to increase their business outreach. LED lighting systems are adopted by airline operators due to higher efficiency, lower costs, and improved lighting quality. 

Impact of COVID-19 on the aircraft lighting market:

COVID-19 is a deadly disease that has disrupted market shares in unprecedented ways. The aircraft lighting market shares have seen a downfall due to lockdown restrictions.

REPORT COVERAGE:

This global aircraft lighting market research report has been segmented and sub-segmented into the following categories.

Aircraft Lighting Market - By Aircraft Type:

• Commercial
• Military
• Business Jets & General Aviation
• Helicopters

On the basis of aircraft type, the Aircraft Lighting market is segmented into commercial aviation, military aviation, business jets, and general aviation and helicopters. Among these segments, the helicopter aircraft type segment holds the major share of the market, with a rise in tourism through commercial helicopters as there is a rise in demand for deploying advanced cabin comfort features.

Aircraft Lighting Market - By Light Source:

• LED
• Fluorescent

On the basis of the light source, the Aircraft Lighting market is segmented into two types: LED and fluorescent. Among these segments, the LED segment holds the major share of the market.

Aircraft Lighting Market - By Light Type:

• Interior Lights
• Exterior Lights

Interior lighting includes reading lamps, ceiling and wall lights, signs, ground path lighting bars, and laundry lights, among others. Airlines insist on the installation of multi-color indoor lighting to create an atmosphere depending on the demand or mood of the passengers. The growing demand for enhanced passenger experience and comfort is expected to fuel the segment of interior lighting.

Aircraft Lighting Market - By End User:

• OEM
• Aftermarket

Based on end-user, the Aircraft Lighting market is segmented into two types, namely OEM and aftermarket. Among these segments, the OEM segment holds the major share of the market.

Aircraft Lighting Market - By Region:

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• Latin America

North America's Aircraft Lightning market growth is driven mainly by the high demand for air travel and increased flight experience. The increase in passenger traffic in this region is leading to an increase in aircraft orders, which in turn leads to a rise in the demand for aircraft lights. In addition, the high demand for aircraft lighting products in North America can also be due to the presence of major aircraft manufacturers in the area. There is also a massive demand from OEMs and airlines for highly efficient LED lights to reduce carbon emissions in the area. 

KEY MARKET PLAYERS:

The key market players in the Aircraft Lighting Market are Astronics (US), Cobham (US), Honeywell (US), Luminator Technology Group (US), Collins Aerospace (US), Soderberg Manufacturing Company (US), Diehl Stiftung (Germany), Oxley Group (UK), and STG Aerospace (UK), among others.

RESEARCH REPORT KEY HIGHLIGHTS:

• Current and future market perspectives for Aircraft Lightning Market in developed and emerging markets.
• Analyze different market perspectives using the analysis of five Porter forces.
• The segment that is expected to dominate the market.
• Regions that are expected to grow faster during the forecast period.
• Identify the latest developments, market shares, and strategies of key market participants.

RECENT HAPPENINGS IN THE MARKET:

In November 2018, United Technologies (UTC) obtained final regulatory approval to buy Rockwell Collins, which is one of the biggest acquisitions in the history of the aerospace industry. As part of the new purchase, Rockwell Collins became Collins Aerospace in a combined restructuring with UTC Aerospace Systems.