Navigation Lighting Market Opportunities, Assessment, Demand, Scope and Forecast 2028

According to Precision Business Insights (PBI), latest report, the navigation lighting market is poised to grow at a CAGR of 4.5% from 2022 to 2028. The primary drivers of the expansion of the global navigation lighting market include the increasing demand for the marine and aerospace industry, the increasing air travel, and the increasing awareness.

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Marine Segment to Dominate the Navigation Lighting Market:
Based on end-user, the global navigation market is divided into Aerospace and marine. The marine segment is expected to account for a larger revenue share in the global navigation lighting market, with a value share worldwide. The increasing import-export exercise by marine crafts is driving the global market along with increasing demand and population worldwide. Good transportation through marine craft is less expensive than aircraft. Hence, this segment will drive the global lighting market growth.

Asia Pacific Navigation Lighting Market:
The Asia Pacific market is expected to increase in the global navigation lighting market over the forecast period. The Asia Pacific market is expanding as a result of the increasing demand for air travel, increasing import-export activities, and growing income and population in the emerging countries in this region. North America held a considerable market share during the estimated period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global navigation lighting market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Oct 2021, Hella marine redefined underwater lighting with Apelo, featuring edge light technology and optical intelligence for superior brilliance.

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The navigation lighting market is segmented based on type, end-user, and geography.
Based on the type, the market is segmented into the following:
• Low Light Intensity
• Medium Light Intensity
• High Light Intensity

Based on the end user, the market is segmented into the following:
• Aerospace
• Marine

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the navigation lighting market report are Glamox AS, Aveo Engineering Group, S.R.O., Hella Marine, Perko Inc., Lutron Electronics Co., Inc, Canepa & Campi, Den Haan Rotterdam, FAMOR S.A., and TRANBERG.

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