The Aircraft Lighting Market is projected to reach USD 7.56 billion by 2028, at a CAGR of 5.8% between 2018 and 2028. According to Quince Market Insights, the increasing demand for commercial aircraft is one of the factors driving the market. The report provides a detailed analysis of emerging market trends, market size, forecasting, detailed overview of major companies operating in the market, impact factors influencing the market, etc. The report also identifies key factors that influence the growth of the aircraft lighting market.
The aircraft lighting market is one of the established markets in the aviation industry. Based on lighting type, the aircraft lighting market has been segmented into interior and exterior, where the interior segment is expected to grow at a higher rate as compared to the exterior segment. Based on aircraft type, the aircraft lighting market has been segmented into commercial aviation, military aviation, and business aviation. The demand for aircraft lighting is high in commercial aviation. Some of the major factors influencing the growth of the market include increasing demand from commercial aircraft to enhance the passenger experience, the rapid growth of the tourism industry, globalization leading to the use of air-cargo to transport goods in less time, and rising demand for military application.
High Demand from Commercial Aircraft
With an increase in disposable income and worldwide tourism, commercial aircraft are being manufactured to meet the growing travel demand, thus, fueling the need for commercial aircraft. New aircraft need interior as well as exterior lighting, which is driving the aircraft lighting market.
Interior lights include reading lights, ceiling lights, and floor path lights, among others, and are used to assist passengers in various activities inside an aircraft. Exterior lights are used to provide functional assistance in the safety and operation of an aircraft. These include landing lights, position lights, runway turnoff lights, etc. Moreover, due to globalization, many countries are carrying out a trade using air transport, which is creating the need for commercial cargo fleets and is likely to propel the demand for commercial aircraft lighting during the forecast period.
North America to witness the highest demand for aircraft lighting during the forecast period
North America is expected to lead the aircraft lighting market during the forecast period. Two of the large aircraft manufacturers, Boeing (US) and Bombardier (Canada) are present in this region. Hence, the demand for aircraft lighting is expected to rise during the forecast period. Moreover, the US military expenditure is the highest in the world and the demand for aircraft lighting is high from the military aviation aircraft type segment.
Major companies manufacturing aircraft lighting such as Honeywell International Inc., Diehl Stiftung & Co. KG, Astronics, Zodiac Aerospace, Rockwell Collins, United Technologies Corporation, STG Aerospace Ltd., B/E Aerospace Inc., and Oxley Holdings Ltd... and others have been profiled in the study to provide a competitive view about the market.
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By Aircraft Type:
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