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.
Some of the key players operating in the commercial aircraft lighting market are Soderberg Manufacturing Co. Inc. (US), Cobham plc (UK), Diehl Stiftung & Co. KG (Germany), Astronics Corporation (US), Honeywell International Inc. (US), Oxley Holdings Ltd. (Singapore), Safran SA (France), Luminator Technology Group (US), STG Aerospace Limited (UK), and United Technologies Corporation (US)
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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.
Service providers are focusing on the enhancement of passenger experience with the advent of novel technologies such as mood lighting. The drastic rise in the air traffic owing to the rise in the middle-income population is expected to favor the expansion of the commercial aircraft lighting market over the assessment period.
Exterior aircraft lighting is crucial for navigation, landing, signaling, and anti-collision. It plays an important role in ensuring the safety of the aircraft. This, in turn, is anticipated to augment the commercial aircraft lighting market in the years to come.
The advent of LED lighting systems has developed a core application in the aviation industry. This is projected to catapult the commercial aircraft lighting market on an upward trajectory. In addition, the influx of investments prognosticated towards modernization of aircrafts is likely to expedite the growth of the market in the foreseeable future.
By type, the global commercial aircraft lighting market has been segmented into interior lighting and exterior lighting.
By aircraft, the commercial aircraft lighting market has been segmented into narrow-body, wide-body, and others.
By vendor, the global commercial aircraft lighting market has been segmented into OEM and aftermarket.
By technology, the commercial aircraft lighting market has been segmented into traditional, LED and others.
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.
In February 2019, the Alaska Airlines has announced the launch of new cabin interiors for Old Virgin America Aircraft.
In February 2019, two Vietnamese carriers signed a deal with Boeing, an American multinational corporation, for the purchase of 110 aircrafts worth USD 15.7 bn at list prices.
In February 2019, International Airlines Group, the parent company of British Airways, has struck a purchase deal with Boeing, an American multinational corporation, for 42 777X airplanes.
In October 2018, Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies, has received FAA approval for the next generation of LED Landing and Taxi Lights to be used in commercial, general, and business aviation aircraft. The lights will be manufactured under the wholly owned subsidiary Astronics Luminescent Systems Inc (LSI)
Table of Content:
1 Executive Summary
2 Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3 Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
Continued. . .
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List of Table:
Table 1 Global Commercial Aircraft Lighting Market, By Region, 2018–2023
Table 2 North America: Commercial Aircraft Lighting Market, By Country, 2018–2023
Table 3 Europe: Commercial Aircraft Lighting Market, By Country, 2018–2023
Table 4 Asia-Pacific: Commercial Aircraft Lighting Market, By Country, 2018–2023
Table 5 Rest of The World: Commercial Aircraft Lighting Market, By Region, 2018–2023
Table 6 Global Commercial Aircraft Lighting Type Market, By Region, 2018–2023
Continued. . .
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