Aircraft Lighting Systems Market to Rise with a Significant Growth by 2023

Aircraft lighting systems Market provide illumination in aircraft to passengers and crew. Interior lighting system is a part of the aircraft design and ensures a convenient travel experience for passengers. These are categorized into floor, wall, and ceiling lights, reading lights, lavatory lights, and signage lights. Airline operators have used advanced lighting systems to improve infrastructure, increase customer satisfaction, and offer innovative value-added services.

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The global aircraft lighting systems market is projected to reach at $2,204 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023. In 2016, the interior lighting sub-segment accounted for the highest revenue share in the global market. The global aircraft lighting systems market is driven by increase in air travel, growth in demand for new aircraft, and rise in need for light-weighted aircraft components & new technological advancements in the market. However, high initial costs hinder the growth of the market.

The global market was led by the wide body aircraft segment in 2015, and is expected to continue this trend during the forecast period. However, the narrow body aircraft segment is expected to witness the highest growth, owing to rise in demand from airline carriers.
Asia-Pacific is expected grow at the highest CAGR during the forecast period. Increase in air travel and aircraft deliveries, growth in demand for very large aircrafts & wide body aircrafts, and rise in focus to enhance air travel for passengers drive the aircraft lighting systems market growth.

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Key Findings of the Aircraft Lighting Systems Market:
• The exterior lighting systems sub-segment is expected to exhibit a significant increase in the global aircraft lighting systems market during the forecast period.
• In 2016, the narrow body aircraft accounted for the highest revenue among the other aircraft types.
• Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

The key players profiled in the report include 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 Geltronix Aviation Light.

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