Press release
Airport Lighting Solutions Market Projected to Witness a Double-Digit CAGR During 2025
Airport Lighting Solutions play an important role in creating a unique ambiance, improving aircraft movement and supporting other business operations at airports. Airport Lighting Solutions products include taxiway movement signs and obstruction lightings along with transformers and connector kits. Along with manufacturing and supplying airport lighting solutions, the companies in this market are continuously focusing on developing new products to ensure compliance and meet different requirements laid by companies undertaking projects. The demand for smart lighting solutions will grow at a significant pace as they reduce energy consumption as compared to traditional light sources.
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This new market will grow at a notable rate as it helps airport owners in reducing carbon emissions as well as maintenance cost. The investors are looking to buy designed airport lighting solutions to build brand reputation by making airport attractive destinations and offering better passenger experience than competitors.
Airport Lighting Solutions Market: Drivers and Restraints
The Airport Lighting Solutions market is gaining attention due to the increase in demand for airport light products globally for expansion as well as new construction. The growing number of air travelers and increased air cargo along with obsolete air traffic management (ATM) infrastructure will fuel the investments on Airport Lighting Solutions. Moreover, the vast applications of Airport Lighting Solutions in aircraft navigation, landing and safe movement are expected to further drive the growth rate in the coming years. Apart from achieving goals of operational cost reduction, improving operational efficiency, safety and sustainability, the Airport Lighting Solutions also play a key role in enhancing brand experience. The Asia-Pacific aviation industry is anticipated to witness highest level of investment in the coming years. As a result, China and India will be emerging as key players in the Airport Lighting Solutions market due to the growing number of air passengers.
The major restraints to the market growth of Airport Lighting Solutions are economic slowdown in developed economies and airport regulations & lack of funds in the developing countries. One of the major challenges in the global Airport Lighting Solutions market will be developing products that can reduce energy cost of lights. The development of solar energy will be playing a key role in offsetting these factors expected to create a negative impact over the market.
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Airport Lighting Solutions Market: Region-Wise Outlook
The global Airport Lighting Solutions market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, Western Europe, Japan and North America are expected to grow steadily owing to continuous investments in airports expansions to increase design capacity. The airport construction activity will remain high in the Asia Pacific and Middle East and Africa (MEA) over the forecast period, ultimately driving the demand for lighting solutions at airports. The Latin America and Eastern Europe are also expected to register healthy CAGR over the forecast period.
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