Westford USA, March 17, 2023 (GLOBE NEWSWIRE) -- Asia Pacific led the major growth for the aircraft lighting market with healthy competition from the North American region. The growing demand for air travel worldwide is driving the need for more aircraft, which in turn is fueling demand for aircraft lighting solutions. The development of LED lighting technology has resulted in more efficient and cost-effective lighting solutions for aircraft, leading to increased demand. Passengers are increasingly looking for a comfortable and enjoyable travel experience, and lighting is important. Airlines are investing in high-quality interior lighting solutions to enhance the passenger experience, driving demand for advanced lighting systems.
According to SkyQuest's global research, the electric aircraft industry is poised to experience significant growth in the coming years, with a projected value of over USD 29.79 billion by 2028 with a high CAGR of 15.4%. The electric aircraft industry's growth is expected to impact the aircraft Lighting Market positively. With the adoption of electric aircraft, there will be greater demand for efficient, lightweight, and durable lighting solutions.
Browse in-depth TOC on "Aircraft Lighting Market"
- Pages - 278
- Tables - 89
- Figures - 75
Aircraft lighting plays a crucial role in ensuring the safety of flights. It is responsible for illuminating the airplane's interior and exterior during takeoff, landing, and flight. In addition, proper lighting is essential for pilots to navigate through different weather conditions, identify other aircraft in the airspace, and read instrument panels. The different types of lighting used in airplanes help pilots navigate different situations, while interior lighting provides passengers with a comfortable and relaxing environment.
Prominent Players in Aircraft Lighting Market
- Heads Up Technologies
- Cobham
- Honeywell International Inc.
- Oxley Group
- STG Aerospace
- Astronics
- Diehl Stiftung
- Luminator Technology Group
- Soderberg Manufacturing Company
- Precise Flight, Inc.
- Hoffman Engineering
- AeroLeds
- Bruce Aerospace
- IFE Products
- Beadlight Limited
- Whelen Aerospace Technologies
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LED Segment to Witness Significant Sales Growth as LED Lights are More Energy-Efficient than Traditional Lighting Sources
The aircraft lighting market witnessed substantial growth in the LED segment in 2021, and it is expected to continue its positive trajectory from 2022 to 2028. LED lighting technology has emerged as a game-changer in the aviation industry, and its increasing adoption is primarily driven by its cost-effectiveness, efficiency, and durability. The trend towards LED lighting is expected to continue in the coming years, driven by the increasing demand for efficient and sustainable aviation solutions. In addition, as airlines seek to reduce their carbon footprint, adopting LED lighting technology is likely to accelerate. It is an environmentally friendly option that consumes less energy and produces fewer emissions.
According to recent market research, the Asia Pacific region has emerged as the dominant player in the aircraft lighting market, holding the largest share in 2021. This trend is expected to continue, with the region projected to maintain its lead ahead of other regions by 2028. The growth of the Asia Pacific market can be attributed to several factors. First and foremost, the region has witnessed a significant rise in air passenger traffic, leading to an increase in the demand for new aircraft and retrofitting existing aircraft with advanced lighting systems. Additionally, the region's growing economy has enabled airlines to invest in upgrading their fleets to meet the changing demands of customers.
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Commercial Aircraft Segment to Drive Higher Traction Driven by the Increasing Number of Commercial Aircraft in Service
The aircraft lighting market has witnessed significant growth in recent years, and the commercial aircraft segment has been a major contributor to this growth. In 2021, the commercial aircraft segment held a significant revenue share in the market, and it is expected to continue dominating the market from 2022 to 2028. This dominance can be attributed to several factors, including the rising demand for air travel, especially in emerging economies, and the increasing number of airline aircraft orders. In addition, developing advanced lighting technologies, such as LED lights and mood lighting, has enhanced the passenger experience and increased demand for these features in commercial aircraft.
According to recent industry reports, the North American region recorded the highest growth rate in the aircraft lighting market in 2021, and this trend is expected to continue until 2028. The market growth can be driven by several factors, such as the increasing demand for advanced lighting systems in aircraft, rising air passenger traffic, and the need for better flight visibility. As a result, the market has rapidly evolved in recent years, with manufacturers introducing new and innovative lighting solutions to improve the overall flying experience. In addition, the increasing demand for LED-based lighting systems and smart lighting solutions is also driving market growth in North America.
The aircraft lighting market has experienced significant growth over the past few years, leading to a highly competitive and rapidly evolving market. To help companies and investors navigate this complex landscape, SkyQuest, a trusted market research firm, has recently released a comprehensive report providing a detailed industry analysis. By leveraging the insights provided in the comprehensive report, businesses and investors can stay informed and make strategic decisions that will help them remain competitive and succeed in the market.
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Key Developments in Aircraft Lighting Market
- Marshall Aerospace and Defence Group recently marked a milestone with the opening of their state-of-the-art Aerostructures hangar. The new hangar boasts cutting-edge technology and facilities that cater to the most complex aircraft engineering requirements. The facility in the UK is a testament to the company's motive to advance aerospace engineering and manufacturing.
- TransDigm, a leading global designer and manufacturer of highly engineered aircraft components, has announced the acquisition of Calspan Corporation, a premier provider of advanced research and testing services for aerospace and defense markets. The acquisition is expected to enhance TransDigm's portfolio of innovative products and solutions while expanding its customer base and geographic reach.
- Heads Up Technologies, a leading provider of avionics solutions, has recently announced its acquisition of STG Aerospace, a prominent player in the aircraft cabin lighting market. The move aims to bring together the strengths of both companies, offering customers a broader range of products and services. Heads Up Technologies' expertise in avionics will help STG Aerospace expand its reach in the aviation market. At the same time, STG Aerospace's innovative lighting solutions will provide Heads Up Technologies with a new avenue for growth.
Key Questions Answered in Aircraft Lighting Market Report
- What are the current growth trends in the identified market segments and regions, and what factors drive this growth?
- How can businesses adapt to new technologies and product advancements to stay competitive in the identified market segments and regions?
- What are the potential obstacles and risks associated with entering and expanding into the identified market segments and regions, and how can businesses overcome them?
- What marketing tactics have proven effective in capturing consumers' attention in the identified market segments and regions, and how can businesses leverage them for success?
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