New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Aircraft Lighting Market Size, Share, Growth,Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Cockpit Console Lights, Cabin Lights, Cargo Lights, Seat Proximity Lights, and Others), Technology (Traditional Lights, LED Lights, OLED Lights, and Others), and Light Type (Interior Lights and Exterior Lights), Fit Type (Line Fit and Retrofit), Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft), End User (Commercial and Military), and Geography”, the global aircraft lighting market demand is influenced by rise in demand for energy efficient aircraft lights and significant growth in aircraft production.
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Global Aircraft Lighting Market - Report Scope:
| Market Size Value in | USD 1.72 Billion in 2022 |
| Market Size Value by | USD 2.36 Billion by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 159 |
| No. of Tables | 32 |
| No. of Charts & Figures | 90 |
| Historical data available | Yes |
| Segments covered | Type, Technology, and Light Type, Fit Type, Aircraft Type, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Aircraft Lighting Market: Competitive Landscape and Key Developments
In September 2021: Collins Aerospace launched Lilac-UV, an ultraviolet (UV) lighting solution to sanitize aircraft interiors nearly anywhere the light is installed inside an aircraft. Lilac-UV emits a slight violet light that disinfects surfaces in seconds to minutes, depending on lamp configuration and specific pathogen.
In August 2019: Bruce Aerospace was confirmed as a supplier of the Direct Fit LED cabin mood lighting system to Air Transat for its A330 aircraft fleet and help with classic and enhanced cabin configurations.
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The aircraft lighting market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The global aircraft lighting market is experiencing decent growth with regard to the investments, trials being carried out, and deployment for the future in the current scenario. The market for aircraft lighting consists of many well-established players across the globe, which invest huge amounts in delivering the most advanced technologies and products to their customers. The aircraft manufacturers, on the other hand, are procuring advanced technologies from the aircraft component manufacturers to deliver aircraft integrated with enhanced technologies. This factor is fueling the aircraft lighting market growth across the global aerospace industry. Moreover, the increase in defense budgets in developing and developed countries is facilitating the military forces to procure an increased number of next-generation aircraft models and aircraft components, including different lighting solutions. This factor is helping in the proliferation of the aircraft lighting market worldwide.
Moreover, the rising aircraft production worldwide is one of the major factors catalyzing the aircraft lighting market growth. Also, there is an increase in demand for innovative products to enhance passenger experience in order to meet growing air travel requirements. In addition, the introduction of advanced innovative products from aircraft lighting system manufacturers is further supporting players of different ecosystem nodes to boost their growth in the aircraft lighting market.
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Aircraft Lighting Market: Fit Type Overview
Based on fit type, the aircraft lighting market is segmented into line fit and retrofit. The line fit segment is likely to dominate the aircraft lighting market in 2022, and it is also projected to retain its dominance during the forecast period. The retrofit segment is likely to witness a higher CAGR during the forecast period. This is mainly due to the rising aircraft fleet globally, which is generating the constant requirement for aircraft modification and catalyzing the demand for aircraft MRO services. Moreover, the increasing focus of airlines on modifying their respective aircraft fleet to provide their respective customers with an enhanced air travel experience and enable automation across their respective airline operations is leading to a higher demand for interior lighting modifications and catalyzing the aircraft lighting market growth.
Impact of COVID-19 Pandemic on Global Aircraft Lighting Market Growth:
During the COVID-19 pandemic, the entire aviation industry came to a halt with minimal resources to foresee the future. The outbreak decimated the demand for aircraft globally, which significantly lowered the volumes of orders among aircraft manufacturers. The crisis reduced the production of aircraft. Several aircraft production units in the US, France, Russia, and China were temporarily paused to adhere to the government rules regarding lockdown and physical distancing. The decline in production volumes resulted in a delay in deliveries, adversely affecting various component manufacturers' businesses and associated technologies. The aircraft lighting system is one of the key components of any aircraft that is utilized for signaling and customer experience applications. As aircraft production declined, the aircraft lighting system manufacturers also observed limited demand for their products, resulting in a loss in revenues. Furthermore, the reduction in commercial aircraft and general aviation deliveries due to the industry crisis caused by the COVID-19 pandemic declined the demand for aircraft lighting systems, negatively impacting the aircraft lighting market in 2020. Moreover, the electronics & semiconductor industry witnessed a shortage of semiconductor chips and manufacturing challenges during the COVID-19 pandemic due to the supply chain disruption. This factor also impacted the growth of the aircraft lighting market in 2020.
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Honeywell International Inc, Cobham Plc, Safran, STG Aerospace Ltd, Collins Aerospace, Diehl Stiftung & Co. KG, Astronics Corporation, Oxley Group, Talon Aerospace LLC, and Bruce Aerospace Inc are among the key players operating in the aircraft lighting market. These vendors are collaboratively working with their customers to understand their custom requirements and tailor their respective needs by delivering reliable aircraft lighting solutions.
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