Pune, India, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global aircraft lighting market size was valued at USD 2.26 billion in 2022 and is projected to grow from USD 2.50 billion in 2023 to USD 4.41 billion by 2030, exhibiting a CAGR of 8.45% during the forecast period.
The demand for luxury features in aircraft for high-end customers has created an opportunity for OEMs to produce and acquire aesthetically pleasing and luxurious lighting solutions. These lighting systems aim to enhance passenger comfort and safety during flights at high altitudes. Fortune Business Insights presents this information in their report titled "Global Aircraft Lighting Market, 2023–2030."
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Major Players Profiled in the Aircraft Lighting Market Report:
- Astronics Corporation (U.S.)
- Aveo Engineering Group s.r.o (Czech Republic)
- Bruce Aerospace (U.S.)
- Cobham plc (U.K.)
- Collins Aerospace (U.S.)
- Diehl Stiftung & Co. KG (Germany)
- Honeywell International Inc. (U.S.)
- Luminator Technology Group (U.S.)
- Oxley Group (U.K.)
- Safran (France)
- Soderberg Manufacturing Company (U.S.)
- STG Aerospace Limited (U.K.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.45% |
| 2030Value Projection | USD 4.41 billion |
| Market Size in 2023 | USD 2.50 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Aircraft Lighting Market Growth Drivers | Rising Demand and Adoption of Energy-Saving Aircraft Lighting Supports Market Growth |
| Rising Aircraft Refurbishment Drive Market Growth by Extending Lifespan of Older Aircraft |
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COVID-19 Impact
Disrupted Supply Chain and Decreased Demand Deterred Growth
The aviation industry was significantly impacted by the pandemic, leading to various challenges such as decreased passenger air traffic, delays in aircraft deliveries, and cancellations of aircraft orders. Furthermore, halt in airport operations, including the procurement of new aircraft and the creation of demand, disrupted the production process and the overall supply chain in aircraft production and procurement.
Segments
Fixed-Wing Dominates the Market with Strong Global Demand
By aircraft type, the market is segmented into fixed-wing and rotary-wing. The fixed-wing segment holds the largest market share, driven by robust global demand and widespread presence. The surge in demand for both commercial and military aircraft is a key factor contributing to the growth of the fixed-wing segment in the market.
Surging Demand for Premium Lighting Solutions Drives Growth of the Interior Lights Segment
By lighting type, the market is divided into interior lights and exterior lights. Due to the increasing utilization of modern-generation mood lighting and LED lights to ensure enhanced passenger safety and comfort, the interior lights segment is projected to experience substantial growth.
Customization and Maintenance Drive Dominance of Aftermarket Segment
By point of sale, the market is classified into aftermarket and OEM.
Driven by the increasing need for customized aircraft lighting, higher aircraft flight hours, growing air passenger traffic, and manufacturer-specified detailed inspections and bulb replacements, the aftermarket segment is projected to dominate the market over the forecast period.
By region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and the rest of the world.
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Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints
Rise of LED Lights to Fuel Growth Driven by Energy Efficiency and Versatility
LED lights have gained preference over traditional bulbs in recent times due to their numerous advantages and versatile applications. This trend is expected to accelerate the development of energy-efficient LED lights for both exterior and interior use in aircraft. LED lights offer lower operational costs compared to other lighting options like fluorescent lamps. As a result, the adoption of LED lights and other advanced lighting systems is driving the growth of the market.
However, backlog of existing aircraft orders and delayed deliveries may stifle the aircraft lighting market growth.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- COVID-Impact 19 Impact on Global Aircraft Lighting Market
- Global Aircraft Lighting Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Aircraft Type
- Fixed Wing
- Commercial Aircraft
- Military Aircraft
- Regional Jets
- Business Jets and General Aviation
- Rotary Wing
- Commercial Helicopter
- Military Helicopter
- Fixed Wing
- Market Analysis, Insights and Forecast – By Lighting Type
- Interior Lights
- Signage lights
- Ceiling & wall lights
- Floor path lighting
- Reading Light
- Lavatory lights
- Exterior Lights
- Emergency lights
- Navigation lights
- Others
- Interior Lights
- Market Analysis, Insights and Forecast – By Point of Sale
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East
- Rest of the World
TOC Continued…!
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Regional Insights
North America's Dominance Strengthened by Leading OEMs and Technological Advancements
North America is poised to maintain its aircraft lighting market share due to the presence of major aircraft OEMs such as Boeing and Bombardier, among others. Additionally, North America's position as the largest aviation market globally drives continuous technological advancements and innovative designs for aircraft lighting, further solidifying its leadership in the market.
Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period. The region's growth is attributed to the increasing number of OEMs and rapid expansion of the aviation industry.
Competitive Landscape
Key Players Diversify Services to Thrive in the Market
The global market is characterized by a high degree of fragmentation, with numerous key players operating in the industry. These players are dedicated to offering a diverse range of energy-efficient solutions specifically tailored for both fixed-wing and rotary-wing aircraft.
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Key Industry Development
- October 2022- Jet Aviation launched a latest addition to its aircraft lighting, a 55-inches curved OLED screen. The three OLED screens are strategically placed each side above the window line.
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