Aircraft LED Market to reach USD 2.5 Billion by 2032, Says Global Market Insights inc.
Aircraft LED Industry size is expected to register 10% CAGR between 2023 and 2032 propelled by the increased demand for commercial aircraft.
Selbyville, Delaware , March 06, 2024 (GLOBE NEWSWIRE) -- Aircraft LED Market is projected to be worth USD 2.5 billion in revenue by the end of 2032, as per a recent study by Global Market Insights Inc.
The surging demand for air travel worldwide is propelling the market growth. With more passengers taking to the skies, airlines are expanding their fleets, further spurring the need for efficient as well as reliable lighting solutions. LEDs offer airlines a combination of energy savings, reduced maintenance costs, and enhanced safety features for subsequently aligning perfectly with the drive for efficiency and sustainability. This growing demand for new aircraft coupled with the increasing need to enhance passenger experience has made LED lighting systems a focal point for modern aircraft design, augmenting the industry outlook.
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*Growing demand for ceiling and side-wall lights *
Aircraft LED market from the ceiling and side-wall light application segment is projected to expand at a 10% growth rate between 2023 and 2032. LED lighting solutions for aircraft ceilings and side walls offer enhanced illumination, aesthetics, and energy efficiency. Airlines are largely prioritizing these areas to create a pleasant and comfortable cabin environment for passengers. Ongoing advancements in LED technology have led to improved performance, increased color options, and controllability. The growing efforts to provide airlines with a wide range of options for creating unique lighting designs is also boosting the adoption of LED ceiling and side-wall lights.
*Higher usage in the OEM sector*
Aircraft LED market from the OEM end-use segment generated substantial revenue in 2022 and is estimated to generate over USD 800 million by 2032. OEMs are prioritizing energy-efficient LED lighting solutions to meet the environmental and cost-saving objectives essential for improving fuel efficiency in aircraft. Several manufacturers, including Boeing, Airbus, and Bombardier, are deploying LED technology for its efficiency, reliability, and enhanced aesthetics. With airlines seeking to modernize their fleets with state-of-the-art features, the adoption of LED lighting is rising, further propelling the segment growth.
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*North America to emerge as a lucrative market destination*
North America aircraft LED market is set to exhibit 10% CAGR from 2023-2032, particularly led by the presence of the most mature and established aviation sector in the U.S. The demand for LED lighting systems is driven by the need for cutting-edge technologies and cost-saving solutions. Several regional aircraft manufacturers and suppliers are at the forefront of LED technology innovations. For instance, in June 2023, Panasonic Avionics and United Airlines signed an agreement to deploy the transformational Astrova in-flight entertainment system to provide consumers exclusive features like 4K OLED panels, high fidelity audio, and customizable LED lighting in 2025. The stringent regulations on energy efficiency and environmental sustainability will also drive the shift towards LED lighting in aircraft across the region.
*Aircraft LED Market Participants*
Some of the top firms engaged in the aircraft LED industry include Astronics Corporation, Luminator Aerospace, Cree, Inc., Precise Flight, Inc., Diehl Aviation, Collins Aerospace, STG Aerospace, Honeywell Aerospace, UTC Aerospace Systems, Rockwell Collins, Safran, Aveo Engineering Group, and Collins Aerospace. These market players are investing heavily in R&D to innovate new lighting solutions. They are also collaborating with aircraft manufacturers to integrate advanced LED technology for improved efficiency and performance. For instance, in August 2023, Honeywell, a U.S.-based consumer technology firm, established an Airfield Ground Lighting (AGL) production plant in India.
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*About Global Market Insights*
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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