Aircraft Lighting Systems Market Expected to Reach $2.3 Billion by 2030, Growing at a CAGR of 4.9% from 2021: Market Insights

According to a new report published by Allied Market Research, titled, "Aircraft Lighting Systems Market," The aircraft lighting systems market was valued at $1.5 billion in 2020, and is estimated to reach $2.3 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬- https://www.alliedmarketresearch.com/aircraft-lighting-systems-market

Asia-Pacific dominated the aircraft lighting system market in terms of growth, followed by Europe, North America, and LAMEA. U.S. dominated the market share in 2020, whereas China is expected to grow at a significant rate during the forecast period.

The aircraft lighting system industry holds a great potential in the future, owing to the rise in the global aviation industry and increase in air traffic in developed and developing regions. Arrival of LED lights having a long lifespan, low maintenance, and increased operational efficiency has disrupted business dynamics. Initiatives taken by aircraft lighting system manufacturers to offer custom interior lighting arrangements as per client requirements is expected to drive market competitiveness. In addition, innovative lighting ideas to improve inflight experience of passengers is expected to drive new business opportunities in the coming years.

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

In addition, the aircraft lighting system market is highly regulated by various government bodies and regulatory organizations across the globe. Industry players operating within the market enjoy freedom in designing and integrating the interior arrangement of aircraft lighting, string regulations need to be followed by integration of exterior aircraft lighting systems. Regular A, B, C, and D checks of an aircraft during MRO with a substantial focus on effective operations of aircraft lighting is also one of the major factors that drive the market growth.

By position, the market is categorized into interior lighting and exterior lighting. Interior lighting is expected to witness a lucrative growth rate over the coming years. The platform market segment encompasses commercial aircraft, general aviation, private aircraft, and freighter aircraft. The commercial aircraft segment is expected to witness highest market share in the coming years, whereas the general aviation and private aircraft segment is expected to witness highest growth rate, owing to rise in custom interior lighting of private aircraft owners. By lighting type, the LED segment is expected to witness highest growth rate during the forecast period.

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

Factors such as the revival of the aviation industry and increase in air traffic in metropolitan locations is expected to supplement growth of the aircraft lighting system market. The total number of passengers across the globe has reached 47% of the pre-covid level and is expected to reach 83% by the end of 2022. Total number passengers as of 2024 is expected to reach 4 billion, exceeding the pre-covid situation. Customized lighting systems offered by industry players to cater to unique demands of customers have emerged as a unique strategic initiative practiced by industry players to increase their market share. The trend of customization is largely noticed in the interior segment of private jets. Rise in acquisition of private jets by business ultra-reach individuals across the globe supports business opportunities in the aircraft lighting system market.

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

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By position, the interior lighting segment is expected to lead the market during the forecast period.
By platform, the commercial aircraft segment is expected to lead the market during the forecast period.
By lighting type, the LED segment is expected to grow at lucrative growth rate during the forecast period.
By end use, the aftermarket segment is expected to lead the market during the forecast period .
Europe is anticipated to exhibit highest CAGR during the forecast period.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Astronics Corporation, Cobham Aerospace Communications, Collins Aeropsace, Diehl Stiftung & Co. KG, Geltronix, Hoffman Engineering, Honeywell International Inc., Luminator Aerospace, Safran, and STG Aerospace Limited

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :
David Correa
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.