Global Aircraft Lighting Market 2020-2024| Evolving Opportunities with Astronics Corp. and BAE Systems Plc | Technavio
LONDON--(BUSINESS WIRE)--Nov 21, 2019--
The global aircraft lighting market is poised to grow by USD 507.76 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global aircraft lighting market 2020-2024 (Graphic: Business Wire)
Read the 145-page research report with TOC on “Aircraft Lighting Market Analysis Report by Type (Interior lighting and Exterior lighting), by Geography (North America, Europe, APAC, MEA, and South America), and Segment Forecasts, 2020 - 2024”
The market is driven by the growing popularity of low-cost and low-maintenance lighting solutions. In addition, technologically improved lights are anticipated to further boost the growth of the aircraft lighting market.
The increasing popularity of low-cost and low-maintenance lighting solutions will be one of the major drivers in the global aircraft lighting market. The aerospace industry is suffering huge losses due to frequent replacement of failed or discolored lighting elements and broken mounting units. Also, most of the traditional lighting systems used in aircrafts are very expensive and require regular maintenance. As a result, vendors in the market have come up with LED lighting systems that help in overcoming these issues. LED lights enhance the passenger appeal owing to their bright and uniform output of light throughout the cabin. Moreover, these lighting systems have a longer lifespan and come in a wide range of colors to suit the design of the cabin interior. Thus, the lower cost of LED lighting systems along with long-life and low maintenance requirements are expected to contribute to the growth of global aircraft lighting market during the forecast period.
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Major Five Aircraft Lighting Market Companies:
Astronics Corp. owns and operates businesses under the aerospace and test systems segments. The company offers a wide range of lighting systems for ambient, seat, and stowage lighting; cabin lighting; emerging lighting; exterior lighting; night vision lighting; and reading lights.
BAE Systems Plc
BAE Systems Plc operates the business under five segments, which include electronic systems, cyber & intelligence, platforms & services (US), air, and maritime. The company’s key offering include IntelliCabin. Through this offering, the company provides dynamic LED lighting and control, among various other solutions.
Cobham Plc has business operations under various segments, namely communications and connectivity, mission systems, advanced electronic solutions, and aviation services. The company offers a wide range of both internal and external lighting solutions for aircrafts. Some of the offerings include Illuninated Aircraft EXIT Signs, Aircraft Instrument Panel Indirect Lighting, Aircraft LED Map Light, Aircraft LED Reading Light, Aircraft LED Step Light, and Aircraft Servicing Light.
Honeywell International Inc.
Honeywell International Inc. operates the business under four segments, which include aerospace, Honeywell Building Technologies, performance materials and technologies, safety and productivity solutions. The company offers a wide range of lighting solutions, including products and maintenance services, for a variety of aircraft.
Oxley Group operates the business under the following two segments: components, and lighting & systems. The company offers a wide range of lighting solutions for both commercial and military aircraft, including navigation lights, landing lights, cockpit lights, cargo lights, anti-collision lights, and wheel well lights.
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Aircraft Lighting Type Outlook (Revenue, USD Million, 2020 - 2024)
- Interior lighting
- Exterior lighting
Aircraft Lighting Regional Outlook (Revenue, USD Million, 2020 - 2024)
- North America
- South America
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INDUSTRY KEYWORD: AIR TECHNOLOGY AEROSPACE TRANSPORT MANUFACTURING OTHER TECHNOLOGY OTHER MANUFACTURING
SOURCE: Technavio Research
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PUB: 11/21/2019 01:00 PM/DISC: 11/21/2019 01:01 PM