Press release
Airport Lighting Market Projected to be Worth US$ 1,039.2 Mn by 2027 – Lead by ADB Safegate, Airfield Lighting, Astronics, Avlite Systems, Carmanah Technologies, Eaton, General Electric, Honeywell International and OCEM Airfield Technology
Airport Lighting Market
Airport Lighting Market is accounted to US$ 540.6 Mn in 2018 and is expected to grow at a CAGR of 7.7% during the forecast period 2019 - 2027, to account to US$ 1,039.2 Mn by 2027.
APAC is anticipated to be the fastest-growing region and is the highest revenue contributor throughout the forecast period owing to the huge rise in air traffic in countries namely China, India, Singapore, and Japan. China is foreseen to outpace the US by 2024, owing to the stupendous growth in air traffic in the nation. Whereas, India is expected to displace the UK to become the third-largest commercial air carriers in the world. These factors are positively impacting on the growth of APAC airport lighting market.
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Top Leading Market Players:
1. ADB Safegate
2. Airfield Lighting
3. Astronics Corporation
4. Avlite Systems
5. Carmanah Technologies
6. Eaton (Cooper Industry)
7. General Electric
8. Honeywell International Inc.
9. OCEM Airfield Technology
10. OSRAM GmbH
Renovation of Existing Airports is Stimulating the Demand for Airport Lighting Solutions
The modern-day aircraft are built with advanced technologies which communicate with other technologies, thereby, easing the flying operations. The airport across the globe are increasingly emphasizing on the up gradation and renovation of runways, taxiways, and aprons along with aircraft obstruction architectures. According to CAPA Airports Construction Database, in 2019, more than US$ 500 Billion to be invested in the renovation of airports including terminals, runways, taxiways, and apron areas. The renovation activities include up gradation of lighting fixtures with more advanced technologies, to simplify the airport operations.
Growing Trend of Integrating Advanced Technologies in Airfield Ground Lighting Solutions
The airport lighting solutions have come a long way with continuous advancements in the industry. Also, the adoption of technologically robust airfield lighting systems has been remarkable over the years. The manufacturers of airport lighting systems invest significant time and amounts in their research and development wing. The increasing emphasize on R&D of lights is to innovate, design, and develop more advanced solutions to cater to the demand for brighter and cleaner lights. Thus, the airport lighting market is anticipated to bolster in the forecast period.
Application Segment Insights
The airport lighting market by application is bifurcated as existing airports and new airports. The construction of new airports enable the airport authorities to procure advanced and technologically robust products with an objective to better serve the passengers, aircraft pilots, traffic controllers, and ground handlers. The different types of robust airport lights play a critical role in the construction of new runways, new taxiways, and obstruction towers, among others. Thus, enhancing the airport lighting market in the forecast period.
Airport Lighting Market Segmentation :
Global Airport Lighting Market - By Type
• Airport Beacon
• Obstruction Lights
• Approach Indicator Lights
• Runway Centerline Lights
• Taxiway Lights
• Others
Global Airport Lighting Market - By Application
• Existing Airport
• New Airport
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Reasons to Buy the Report:
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.
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The Insight partners,
Phone: +1-646-491-9876
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Website: www.theinsightpartners.com
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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