Global Commercial Aircraft Lighting Market by Aircraft Type (NBA, WBA, and RTA), by Fit (Linefit and Retrofit), by Light Type (Interior and Exterior), by Technology (LED, OLED, Custom, and Traditional), and by Geography – Forecast To 2021
Commercial Aircraft Lighting Market – Overview
The Global Commercial Aircraft Lighting Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of commercial aircraft lighting will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2021, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2021).
The high demand for aircraft lighting is due to the growth in the commercial aircraft. An aircraft are equipped with various types of light to improve visibility during flight. Improved passenger experience as well as the growing demand for navigation technologies fuels the growth of the commercial aircraft lighting market. Moreover, rising disposable incomes and macroeconomic development will boosts the market growth. The increase in aircraft orders, growing passenger traffic, need for improved lighting systems for passenger experience are estimated to gain higher popularity during the forecast period. However, the cost associated with modern lighting systems, issues related to its fittings, and growing aircraft backlogs, issues related to its fittings, and growing aircraft backlogs acts as a barrier for the growth of commercial aircraft lighting market.
The commercial aircraft lighting market is completely dependent on the commercial aircraft. Thus, the increasing or decreasing demand of the commercial aircraft is directly has an impact on the market. The high purchasing power has eased travel in flight, due to which there has been a rise in the passenger traffic. Another factor responsible for the increase in commercial aircraft sale is the macroeconomic development and the rise in the global middle class consumers. This is the primary factor that drives the growth of the commercial aircraft lighting and has gained prevalence in the recent times, with growing passenger traffic and need for improved lighting systems for passenger experience. Thus, the growth of the commercial aircraft lighting market is expected to go hand in hand with the growth of commercial aircraft.
The aircraft industry as a whole is a capital intensive industry. The dynamic business environment and cut throat competition in the market constantly requires influx of capital to update their technology to cope with increasing passenger traffic. Development of new generation aircraft requires constant research & development support thus resulting in extensive capital investment at a constant rate. In the current scenario, manufacturers are pushing for such feature including navigation lights, anti-collision beacon lights, logo lights, wing lights, taxi lights, landing lights and runway turnoff lights in order to acquire a greater market share than their competitors. Such cut throat competition in the aircraft industry requires massive investments at a regular basis, thus the high capital investment in the commercial aircraft lighting system.
Commercial Aircraft Lighting Market – Segmentation
The Global Commercial Aircraft Lighting Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Aircraft Type : Comprises NBA, WBA and RTA
Segmentation by Fit : Comprises Linefit and Retrofit
Segmentation by Light Type : Comprises Interior and Exterior
Segmentation by Technology : Comprises LED, OLED, Custom and Traditional
Segmentation by Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Commercial Aircraft Lighting Market: Regional Analysis
Asia-Pacific is dominating the market of commercial aircraft lighting market due to factors such as large customer base and high disposable income of end-users have fuelled the demand for vehicles in the country. With approximately 40% of all new airplanes being delivered to airlines based in the Asia Pacific region.
North America is referred to as the second-largest commercial aircraft lighting market due to growth in passenger aircraft manufacturers. Development of passenger aircraft manufacturers such as Boeing and Bombardier are driving the market for commercial aircraft lighting market. The market in the developing countries is largely driven by military expenditure, which helps in growth of commercial aircraft lighting market.
Diehl Stiftung & Co. Kg., Zodiac Aerospace, United Technologies Corporation, B/E Aerospace, Inc., Luminator Aerospace, Cobham PLC, Honeywell International Inc., STG Aerospace Limited, Astronics, and Diehl Aerosystems and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Commercial Aircraft Lighting Market.