Aircraft Exterior Lighting Market to Witness Significant Growth Brought About by a Global Trend of Old Aircraft Parts Replacement
Future Market Insights (FMI) has recently published a report titled“Aircraft Exterior Lighting Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027.” The report states that a progress in the aircraft industry and the growing aviation industry are the core factors impacting the growth of the global aircraft exterior lighting market. According to the analysis, the market is expected to exhibit a CAGR of 3.7% over the course of the forecast period and reach a valuation of around US$ 624 Mn by the end of 2027.
Aircraft Exterior Lighting Market
A new report on aircraft exterior lighting delivers in-depth understanding on the consecut...
Manufacturers are concentrating on the introduction of new application-specific products in order to better address the requirements of specific aircraft. Furthermore, market players are found to be channelizing efforts towards consolidating their delivery channels while keeping focus centred on direct sales. Companies like Rockwell Collins cater to the demands of both domestic and international customers by maintaining a steady focus on R&D. However, backlog projects remain a threat for several companies. Some of the other leading companies operating in the market are United Technologies Corp., Honeywell International Inc., Zodiac Aerospace S.A., Diehl Aerospace Gmbh, Aveo Engineering Group, s.r.o., Whelen Engineering Co., Inc., Astronics Corporation, and Cobham plc.
Expanding Fleet Sizes to Boost Demand for Aircraft Exterior Lighting
The number of air passengers has risen extensively in Asia Pacific owing to the liberalisation of markets and development in the wealth and size of the middle class. In current decades, Asia has emerged as a chief region in aviation traffic and is anticipated to remain resilient in the coming decade. The economic and monetary growth in large emerging markets such as China and India has been a primary driver for global GDP growth and further for the aviation industry as well. Over the years, China has contributed significantly to world traffic growth as its passenger growth has increased at a noteworthy rate. India’s emergence as a high-growth economy is expected to give rise to one of the largest commercial aviation markets in the coming decade. As a result, the fleet size of airline owners especially those following a low cost business model is expected to surge significantly leading to a rise in the demand for aircraft components worldwide. Consequently, the demand for aircraft exterior lighting is anticipated to intensify over the coming years.
However, stringent regulations are likely to act as a roadblock in the growth of the market in the near future. Regulations concerning pollution produced by aeroplanes will become more stringent in the coming years as most of the countries have agreed to reduce the impact of greenhouse gases. The number of aeroplanes coming to the refurbishing point will significantly decline if aircraft owners choose to retire their aircraft and buy a new fleet instead of opting for refurbishing the old aircraft, to clear regulations listed by authorities. This may negatively impact the aircraft exterior lighting market.
Original Equipment Manufacturers to Benefit from a Growing Demand from Single-aisle Aircraft
The market penetration of low-cost carriers is expected to remain high in the coming years. There are new growth opportunities via the low-cost and long-haul business mode. Liberalisation in intra-regional traffic and open skies with China would also contribute to market growth. As a result, OEMs will find a plethora of opportunities arising from this sector.
For more detailed information and insights on the global aircraft exterior lighting market, contact Future Market Insights analysts at firstname.lastname@example.org
About the Automotive Division of FMI
The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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