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In 2022, the aircraft lighting market was valued at US$ 712.8 million. The market is expected to grow 9.46% during the forecast period, from US$ 780.23 million in 2022 to US$ 1760.04 million by 2032.
In recent years, the market for aircraft lighting has seen significant technological advancements. These technological advances and innovative equipment help to propel the global aircraft lighting market. The market expansion is linked to the expansion of the global aircraft industry and air travel.
The factors driving the market for aircraft lighting include the use of energy-efficient aircraft lights, efficient lighting alternatives, and an increase in aircraft deliveries.
Attributes | Details |
---|---|
Market for Aircraft Lighting CAGR | 9.46% |
Market Size for Aircraft Lighting 2022 | US$ 780.23 million |
Market Size for Aircraft Lighting 2032 | US$ 1760.04 million |
Energy-Efficient Aircraft Lighting to Become More Prevalent, Driving Market Expansion.
Around the world, more advanced LED lights are being used. It is projected that the rising adoption of aircraft lighting over conventional lighting would hasten the creation of energy-efficient aircraft LED lights for both interior and exterior applications.
The primary illumination source for aircraft cabin lighting is the Light-Emitting Diode (LED). Compared to other forms of illumination like fluorescent bulbs, the operational cost is lower. Thus, the market expansion for aircraft lighting is fueled by the adoption of aircraft lighting and other sophisticated lighting systems.
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North America ruled the market and had a US$ 209.2 million market value in 2022. The expansion is credited to a thriving line fit and retrofit aviation business, as well as the presence of the largest aircraft fleet and aircraft lighting manufacturers in the United States.
The development of cutting-edge aircraft lighting systems will also be a result of the regional airline operators' primary focus on providing their passengers with a high level of comfort and a safe flight experience.
The presence of numerous key players, including Astronics Corporation, Cobham Plc., Honeywell International Inc., Diehl Stiftung & Co. KG, Luminator Technology Group, and Safran, has resulted in a highly fragmented aircraft lighting market.
These companies are concentrating on offering a variety of rotary- and fixed-wing aircraft with energy-efficient lighting options. The growing emphasis on strategic acquisition and collaboration strategies as well as the rising investment in R&D activities would support growing its product and brand portfolios.
The aircraft lighting market has gone through high technological advancements in the recent years. These technological advancements and innovative equipment contribute to spur the global aircraft lighting market. The growth of aircraft lighting market is relational to the growth of the global aircraft industry and growth in air travel.
Additionally, factors that drive the aircraft lighting market include use of energy efficient aircraft lights, efficient lighting alternative and growth in aircraft deliveries.
Aircraft lighting is the major security concern of aircrafts. New aircraft lighting systems have innovative working design that save fuel and consume less power. These lighting systems are divided into two segments: interior and exterior aircraft lightings.
Exterior aircraft lightings are used for visibility and security purpose to make the aircraft more visible to other aircrafts. During takeoff and landing of flights they also improve visibility of pilots. They include strobes, navigational lighting systems, beacons, and equipment. Interior lighting systems are used to provide lighting to the cargo hold, cockpit and cabin. These consist of lights mounted on reading lights, ceilings, mood lighting and sidewalls.
As the airline industry focuses on improving passenger experience and comfort by installing advanced aircraft interior systems, airline operators worldwide are heavily investing in aircraft modernization programs and increasing contracts with OEMs to upgrade conventional cabin interiors and lighting systems, which surges the aircraft lighting market adoption trends.
Furthermore, to ensure that criteria are satisfied, interior lighting must provide enough illuminance relative to an aircraft's installation distance or angle. Growing aviation expenditure and rising spending on the design and development of innovative airplane interiors drive market growth.
Growing Backlogs in Aircraft Deliveries and High Cost of LEDs to Limit Market Growth
The supply chain and distribution channel economic recession has led to a drop in aircraft production. The slowdown is anticipated to increase the backlog for airplanes. This may hinder the aircraft lighting market growth on the whole.
One of the main causes of the market's slowing growth is the high cost of LEDs and their components. These lights are expensive because of the highly precise manufacturing process. To meet standards, these lights must produce enough illumination for the installation distance or angle in an airplane.
Increasing air travel and aircraft industry are the primary factors which are driving the aircraft lighting market.
A key growth driver is expected to be the use of energy efficient aircraft lights, and efficient lighting alternatives. The global aircraft lighting market is witnessing high opportunity potential in low weight aircraft lights segment.
Additionally, global economic uncertainty is acting as growth restraints in the global aircraft lighting market.
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Global aircraft lighting market is segmented on the basis of lighting type as follows: Interior Light, and Exterior Light.
The global aircraft lighting market is segmented on the basis of lighting fit as retrofit and line fit, wherein, the retrofit segment is estimated to dominate the global aircraft lighting market in terms of value over the forecast period, owing to increasing aftermarket demand for aircraft lighting and increasing MRO services.
Also, the demand for aircrafts in emerging countries such as China, India and Brazil is growing steadily, thus in the commercial segment it is expected that retrofit segment may have a higher opportunity to grow.
The global aircraft lighting market is also segmented on the basis of aircraft type as follows: Narrow Body Aircraft, Very Large Aircraft and Wide Body Aircraft. The narrow body aircraft type is estimated to grow at a faster rate owing to its high demand from airline carriers. The market for narrow body aircraft is comparatively larger in Asia Pacific, Western Europe, and North America, owing to increase in domestic civil aviation and cost effective carriers market.
On the basis of region, Asia Pacific aircraft lighting market is expected to grow at a faster rate over the forecast period. The key countries mentioned in the Asia-Pacific region are China, South Korea, Japan and India as an outcome of growth in the aircraft industry and airline travel which in turn is resulting in increase in demand for aircraft lighting market in these countries.
Japan, Latin America and Middle East & Africa are expected to grow at a steady rate over the forecast period. The North America and Europe are dominant market over the forecast period.
Examples of some of the market participants in the global aircraft lighting market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The market is likely to register a CAGR of 9.46% through 2032.
The market is currently valued at US$ 780.23 Mn in 2022.
The market is likely to grow to a valuation of US$ 1760.04 Mn by 2032.
North America is likely to be a leading market during the forecast period.
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