Aircraft Lighting Systems Market Expected to Reach $2.3 Billion by 2030-Allied Market Research

According to a recent report published by Allied Market Research, titled, Aircraft Lighting Systems Market by Aircraft Type and Light Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global aircraft lighting systems market was valued at $1,579 million in 2016, and 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞- https://www.alliedmarketresearch.com/request-sample/2405

North America dominated the global aircraft lighting systems market in 2016, and is expected to continue this trend during the forecast period. As per the International Air Transport Association (IATA), the profitability of the North American airline industry is expected to increase, owing to declining fuel prices. Moreover, the implementation of low-cost carrier (LCC) business model in the U.S. along with the introduction of ultra-low-cost carrier (ULCC) business model are expected to boost the commercial aircrafts market in the U.S., fueling the aircraft lighting systems market. Furthermore, increase in air traffic and rise in competition among the existing aircraft operators propel the market growth in North America.

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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/aircraft-lighting-systems-market/purchase-options

The global aircraft lighting systems 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.

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/2405

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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Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

This release was published on openPR.