The Aircraft Lighting Market is valued at 1.2 Billion USD in 2019. The market is expected to grow at a CAGR of 5.8% over the forecast period to reach a valuation of 2.5 Billion USD in 2024.
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.
Recent Developments
In November 2018 United Technologies (UTC) has 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.
Geographical Analysis
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.
Market Drivers And Opportunities
Significant factors which have helped drive the Aircraft Lightning Market forward are-
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.
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 SEGMENTATION
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.
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:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Aircraft Type
5.1.1 Introduction
5.1.2 Commercial
5.1.3 Military
5.1.4 Business Jets & General Aviation
5.1.5 Helicopters
5.1.6 Y-o-Y Growth Analysis, By Aircraft Type
5.1.7 Market Attractiveness Analysis, By Aircraft Type
5.1.8 Market Share Analysis, By Aircraft Type
5.2 Light Source
5.2.1 Introduction
5.2.2 LED
5.2.3 Fluorescent
5.2.4 Y-o-Y Growth Analysis, By Light Source
5.2.5 Market Attractiveness Analysis, By Light Source
5.2.6 Market Share Analysis, By Light Source
5.3 Light Type
5.3.1 Introduction
5.3.2 Interior Lights
5.3.3 Exterior Lights
5.3.4 Y-o-Y Growth Analysis, By Light Type
5.3.5 Market Attractiveness Analysis, By Light Type
5.3.6 Market Share Analysis, By Light Type
5.4 End User
5.4.1 Introduction
5.4.2 OEM
5.4.3 Aftermarket
5.4.4 Y-o-Y Growth Analysis, By End User
5.4.5 Market Attractiveness Analysis, By End User
5.4.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Aircraft Type
6.1.3.3 By Light Source
6.1.3.4 By Light Type
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Aircraft Type
6.1.4.3 By Light Source
6.1.4.4 By Light Type
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Aircraft Type
6.1.5.3 By Light Source
6.1.5.4 By Light Type
6.1.5.5 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Astronics
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Cobham
8.3 Honeywell
8.4 Luminator Technology Group
8.5 Collins Aerospace
8.6 Soderberg Manufacturing Company
8.7 Diehl Stiftung
8.8 Oxley Group
8.9 STG Aerospace
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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