Global aircraft lighting market size to record 9.4% CAGR through 2027
The report on ‘Global aircraft lighting market’ offers an in-depth assessment of the key trends governing the business space, along with growth drivers, opportunities, and challenges which will shape the industry growth pattern over 2020-2027.
Selbyville, Delaware, Jan. 20, 2021 (GLOBE NEWSWIRE) -- As per credible estimates, global aircraft lighting market was worth USD 812 billion in the year 2019 and is expected to record a CAGR of 9.4% during 2020-2027. The growth is primarily driven by increasing investments from central governments for developments of new airports, rising aircraft manufacturing & deliveries, and shifting preference from incandescent lights to LED lights. Further, high demand for non-electrical floor path lightning in order to reduce aircraft weight is also creating lucrative opportunities for global aircraft lighting market players, cites the report.
As per the given report, global aircraft lighting market is analyzed with respect to lightning type, application spectrum, and geographical landscape. Besides, the document acknowledges the competitive arena of the business sphere while offering insights regarding their product offerings, and market share held by each major player. It also mentions mergers & acquisitions undertaken by leading organizations to tackle the competition in this industry vertical.
Notably, aircraft lighting provides radiance for interior and exterior use. With lights being the most vital component of an aircraft, offer illumination for operations like signaling, aid in landing at night, and safeguards from mid-air collision. Lights in the interior of aircrafts provide illumination for instruments, cockpits, and other compartments which are occupied by crew members and passengers, hence propelling global aircraft lighting market size expansion.
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According to General Aviation Manufacturers Association (GAMA), over 440000 aircrafts, including two-seat training aircrafts, intercontinental business jets, and utility helicopters were operating on domestic as well as international routes in 2019. Similarly, as per International Trade Administration, the United Kingdom civil aerospace sector revenue was worth USD 44.6 million in 2018. Extensive designing and production of aircraft systems, aircraft wings, engines, and helicopters in UK, and consequent export to European countries and United States are stimulating global aircraft lighting market growth trends.
Further, concentration of multinational aircraft manufacturers like Leonardo, Thales Group, Lockheed Martin, General Electric, Airbus Group, Bombardier, Boeing, along with domestic aircraft manufacturers like Ultra Electronics, Rolls Royce, GKN, Cobham, and BAE systems towards escalating the manufacturing of aircraft and its components will amplify global aircraft lighting industry remuneration.
*Market segmentations:*
Based on lighting type, global aircraft lighting market is segmented into exterior light, and interior light. Speaking of application spectrum, the industry is divided into military aircrafts, and commercial aircrafts.
*Assessing the regional landscape:*
From regional perspective, North America presently holds considerable share of worldwide aircraft lighting market and is reckoned to expand further, owing to presence of many multinational firms engaged in aircraft production and increasing number of aircraft deliveries.
Meanwhile, Asia Pacific aircraft lighting industry size is poised to register significant growth over 2020-2027. The regional growth is attributable to shifting inclination from incandescent lights to LEDs along with rising investments towards development of new airports.
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*Global Aircraft Lighting Market by Lightning Type (Revenue, USD Billion, 2017-2027)*
· Exterior Light
· Interior Light
*Global Aircraft Lighting Market by Application Spectrum (Revenue, USD Billion, 2017-2027)*
· Military Aircrafts
· Commercial Aircrafts
*Global Aircraft Lighting Market Regional Landscape (Revenue, USD Billion, 2017-2027)**North America*
· Canada
· U.S.
*Europe*
· Italy
· Spain
· France
· Germany
· U.K
· Rest of Europe
*Latin America*
· Mexico
· Brazil
*Asia Pacific*
· South Korea
· Japan
· Australia
· India
· China
Rest of Asia Pacific
*Rest of the World*
*Global Aircraft Lighting Market Competitive Hierarchy (Revenue, USD Billion, 2017-2027)*
· STG Aerospace
· Soderberg Manufacturing Company Inc.
· The Collins Group Inc.
· Oxley Group Ltd.
· Luminator Holding LP
· Honeywell Corporation Inc.
· Heads Up Technologies Inc.
· Diehl Stiftung & Co. KG
· Cobham Limited
· Astronics Corporation
*Table of Content:*
*Chapter 1. Executive Summary *
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Aircraft Lighting Market, by Region, 2018-2027 (USD Billion)
1.2.2. Aircraft Lighting Market, by Lighting Type, 2018-2027 (USD Billion)
1.2.3. Aircraft Lighting Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
*Chapter 2. Global Aircraft Lighting Market Definition and Scope *
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
*Chapter 3. Global Aircraft Lighting Market Dynamics *
3.1. Aircraft Lighting Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
*Chapter 4. Global Aircraft Lighting Market Industry Analysis*
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
*Chapter 5. Global Aircraft Lighting Market, by Lighting Type *
5.1. Market Snapshot
5.2. Global Aircraft Lighting Market by Lighting Type, Performance - Potential Analysis
5.3. Global Aircraft Lighting Market Estimates & Forecasts by Lighting Type 2017-2027 (USD Billion)
5.4. Aircraft Lighting Market, Sub Segment Analysis
5.4.1. Interior Light
5.4.2. Exterior Light
*Chapter 6. Global Aircraft Lighting Market, by Application*
6.1. Market Snapshot
6.2. Global Aircraft Lighting Market by Application, Performance - Potential Analysis
6.3. Global Aircraft Lighting Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Aircraft Lighting Market, Sub Segment Analysis
6.4.1. Commercial Aircrafts
6.4.2. Military Aircrafts
*Chapter 7. Global Aircraft Lighting Market, Regional Analysis *
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