Aircraft Lighting Market Expected To Observer Major Growth By 2026
Global Aircraft Lighting Market: Dynamics
Increasing air travel and aircraft industry are the primary factors which are driving the aircraft lighting market.
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A key growth driver is expected to be the use of energy efficient aircraft lights, and efficient lighting alternatives. The global aircraft lighting market is witnessing high opportunity potential in low weight aircraft lights segment.
Additionally, global economic uncertainty is acting as growth restraints in the global aircraft lighting market.
Global Aircraft Lighting Market: Segmentation
Global aircraft lighting market is segmented on the basis of lighting type as follows: Interior Light, and Exterior Light.
The global aircraft lighting market is segmented on the basis of lighting fit as retrofit and line fit, wherein, the retrofit segment is estimated to dominate the global aircraft lighting market in terms of value over the forecast period, owing to increasing aftermarket demand for aircraft lighting and increasing MRO services. Also, the demand for aircrafts in emerging countries such as China, India and Brazil is growing steadily, thus in the commercial segment it is expected that retrofit segment may have a higher opportunity to grow.
The global aircraft lighting market is also segmented on the basis of aircraft type as follows: Narrow Body Aircraft, Very Large Aircraft and Wide Body Aircraft. The narrow body aircraft type is estimated to grow at a faster rate owing to its high demand from airline carriers. The market for narrow body aircraft is comparatively larger in Asia Pacific, Western Europe, and North America, owing to increase in domestic civil aviation and cost effective carriers market.
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Global Aircraft Lighting Market: Regional Outlook
On the basis of region, Asia Pacific aircraft lighting market is expected to grow at a faster rate over the forecast period. The key countries mentioned in the Asia-Pacific region are China, South Korea, Japan and India as an outcome of growth in the aircraft industry and airline travel which in turn is resulting in increase in demand for aircraft lighting market in these countries. Japan, Latin America and Middle East & Africa are expected to grow at a steady rate over the forecast period. The North America and Europe are dominant market over the forecast period.
Global Aircraft Lighting: Market Participants
Examples of some of the market participants in the global aircraft lighting market are:
B/E Aerospace, Inc.
UTC Aerospace Systems
Honeywell International Inc.
Diehl Stiftung & Co. KG
Aveo Engineering Group
STG Aerospace Limited
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