Lighting Market in Aerospace industry is projected to grow at a CAGR of 5.4% during the forecast period of 2018 to 2023. – Stratview Research Market Report
The study finds –
North America is projected to remain the largest aircraft lighting market during the forecast period.
LED light type segment is the most attractive technology type for aircraft lighting majorly due to longer life of about 10,000 to 20,000 hours as compared to traditional halogen lights which usually have a lifespan in the range of 500 to 3000 hours.
The aircraft lighting market is also segmented based on the light type as Interior and Exterior lighting.
The aircraft lighting market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft.
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The Global Aircraft Lighting Market: Highlights
The global aircraft lighting market is projected to grow at a CAGR of 5.4% during the forecast period of 2018 to 2023. Healthy future growth rate offers a plethora of opportunities to the entire ecosystem of the market. Increasing production rates of key commercial and regional aircraft, such as B737, B787, A320, A350XWB, and C Series; upcoming commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ; requirement of lighting products with longer life, reduced power consumption and lower maintenance; and increasing global aircraft fleet size are the major factors that are bolstering the demand for lighting products in the aircraft industry.
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Lighting in an aircraft performs illumination to both interior as well as exterior sections of an aircraft. There has been a continuous development of lighting products targeting the key areas that include the consumption of low power, longer life, and higher output. These advancements must be met at a lower cycle time along with cost-effective solutions. Other important factors for the consideration for lighting manufacturers are the reduction in maintenance cost and excellence in performance. Airlines have been demanding the finest lighting products which have an efficient operation and reduced maintenance.
The aircraft lighting market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft. The narrow-body aircraft is expected to remain the largest segment of the market during the forecast period of 2018 to 2023. Increasing production rates of key narrow-body aircraft to support the rising passenger and cargo traffic, rising global aircraft fleet, increasing the lighting content per aircraft, and an advancement in the lighting technology are the major growth drivers of the segment’s lighting market. Wide-body aircraft is likely to witness the highest growth during the same period, driven by an increasing demand for wide-body aircraft, such B787, and A350XWB, especially in the developing economies, such as China and India. There is also a healthy demand for wide-body aircraft in the Middle East region.
The aircraft lighting market is also segmented based on the light type as Interior and Exterior lighting. Interior lighting includes reading lights, ceiling & wall lights, signage lights, cockpit lights, floor path lighting strips, lavatory lights, and other interior lights, whereas exterior lighting includes position lights, wing and engine lights, anti-collision lights, landing lights, emergency & utility lights, cargo & service lights, and other exterior lights. Both light types (interior and exterior) are likely to witness healthy growth rates in the market over the next five years.
The aircraft lighting market is further segmented based on the technology type as LED, Halogen, and Others. The LED light type segment is the most attractive technology type for aircraft lighting majorly due to longer life of about 10,000 to 20,000 hours as compared to traditional halogen lights which usually have a lifespan in the range of 500 to 3000 hours. Further LED light also consume lower power which can contribute towards higher fuel efficiency and translate cost savings, along with making more power available for passengers’ comfort such as in-flight connectivity and entertainment.
Based on the regions, North America is projected to remain the largest aircraft lighting market during the forecast period. This region has been the pioneer in the aerospace & defense industry and is the manufacturing capital with the presence of small- to large-sized OEMs in each aircraft category. Most of the players have manufacturing and assembly plants in North America. Additionally, various major lighting manufacturers for the aerospace industry are in the region to support OEMs for the development of advanced products meeting airline requirements.
Asia-Pacific is expected to witness the highest growth during the same period. The highest commercial aircraft fleet size; the gradual shift of manufacturing/assembly plants of OEMs; and upcoming indigenous commercial and regional aircraft, such as Comac C919, ARJ21, and MRJ, fuelled by increasing passenger traffic will continue to drive the Asia-Pacific’s market in the coming years.
Some of the major companies in the aircraft lighting market are Astronics Corporation, Bruce Aerospace, Cobham plc, Diehl Stiftung & Co. KG, Honeywell Aerospace, Rockwell Collins, UTC Aerospace Systems and Zodiac Aerospace. Development of advanced lighting products which consume lower power, last longer, and can withstand harsh environment; and collaboration with OEMs and airlines are some of the key strategies adopted by companies to gain a competitive edge over other competitors.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors.
Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the Aerospace & defence industry. Please refer to the following link to browse through the reports:
Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.
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