Asia-Pacific to lead Airport Lighting Market by 2016-2024
Global Airport Lighting Market: Overview
Airport lighting is a huge market that is gaining attention due to the increase in the demand for the airport lift product throughout the globe. Due to its application in the field of providing a visual aid and navigation approach to the pilot during the journey and also during the landing, the airport lighting market has gained huge success and is expected to expand more in the coming years.
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Global Airport Lighting Market: Growth Factors
The factor that plays an important role in the growth of airport lighting market is the increasing demand for the airport lighting throughout the globe. The increasing GDP of the various regions, disposable income as well as the governments’ expenditure for the better infrastructure of the lighting products are some growth factors that boost the global airport lighting market. The higher traffic in the air is also one of the reasons for market growth. The maintenance costs and energy conservation primarily drive the airport lighting market towards growth. Also, to meet the growing demand of the market and to maintain the supply and demand chain, the global airport lighting market is witnessing a drastic growth and is anticipated to continue this trend in the near future.
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Global Airport Lighting Market: Segmentation
The airport lighting market is segmented based on the position, geography, and type. The type segment is further divided into apron lighting systems, runway lighting systems, and taxiway lighting systems. The geography segment is bifurcated into the Middle East, Europe, North America, Asia-Pacific and the Rest of the world. The positioning segment of the global airport lighting market is further divided into elevated lights, in-pavement/inset lights, and precision approach path indicator. The LED lights and in-pavement or inset lights segment leads the airport lighting market due to their high demand in the global market.
Global Airport Lighting Market: Regional Analysis
The airport lighting market in Asia-Pacific is expected to grow at the highest pace due to the high airport infrastructure demand. The North American market is at the top due to the high consumption reduction and maintenance of the airport lights. The governments’ expenditure for better infrastructure, the rising traffic in the air, and lastly the growing GDP in the various regions are the key reasons for the growth of the airport lighting market in Asia-Pacific regions. The global market may witness a slow growth in countries like the UK, France, and Germany
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Global Airport Lighting Market: Competitive Players
The key players in the global airport lighting market that occupy most of the market shares are Carmanah Technologies Corp., Honeywell International, Inc., Hella KGaA Hueck & Co., and ABB. Out of these Honeywell International, Inc. is the top company in the global airport lighting market which has a strong customer base, distributor network due to its sturdy product supply and manufacture.
Global Airport Lighting Market: Regional Segment Analysis
The Middle East and Africa
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