Portland, OR, Nov. 20, 2019 (GLOBE NEWSWIRE) -- According to the report, the aircraft cabin lighting market was estimated at $1.16 billion in 2018 and is expected to hit $1.74 billion by 2026, registering a CAGR of 5.2% during the estimated period. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.
Rise in aircraft deliveries, effective alternatives to existing interior lights, and surge in number of air passengers are the major factors propelling the growth of the global aircraft cabin lighting market. On the other hand, existing backlog of aircraft deliveries and high initial cost curb the growth to certain extent. Nevertheless, high-end advancement in interior lighting system technology has paved the way for a number of lucrative opportunities in the near future.
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The commercial segment to dominate by 2026
Based on aircrafts, the commercial segment contributed to nearly half of the total market revenue in 2018 and is projected to retain its dominance during the forecast period. The same segment is also expected to register the fastest CAGR of 5.4% throughout 2019–2026.
The retro fit segment to lead the trail
Based on fit, the retro fit segment accounted for more than half of the total aircraft cabin lighting market share in 2018 and is expected to rule the roost during the study period. At the same time, the line fit segment would cite the fastest CAGR of 5.2% by 2026.
Europe held the major share in 2018
Based on geography, Europe garnered the major share in 2018, contributing to nearly one-third of the total market. At the same time, the region across Asia-Pacific would generate the fastest CAGR of 5.7% till 2026.
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Frontrunners in the industry
Key market players analyzed in the global aircraft cabin lighting market report include:
- Devore Aviation Corporation of America
- Cobham PLC.
- Luminator Technology Group
- STG Aerospace
- Diehl Stiftung & Co. KG.
- United Technologies Corporation
- Soderberg Manufacturing Company Inc.
- Safran
- Geltronix Aviation Light
- Astronics Corporation
These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launches to brace their stand in the aircraft cabin lighting industry.
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