Aircraft Lighting Market | Technological Advancements to Underscore Lucrative Growth Opportunities
Growing need for safe navigation while flying an aircraft has led to surge in demand for aircraft lightings globally. In addition, surge in demand for wing inspection while flying is projected to impact the global market growth of aircraft lighting positively. Transparency Market Research states that the global aircraft lighting market is projected to reflect a CAGR of 4.6% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global aircraft lighting market is mainly bound to various macro-economic and micro-economic factors. As the need for safe navigation surfaces in the aviation industry, manufacturing companies are focusing on incorporating anti-collision lights, landing lights and other exterior lights in the aircrafts. Lack of aircraft lightings can lead to increasing number of accidents and collisions. Requirement to maintain checks of damaged wings due to extreme weather conditions while flying has led to surge in demand for wing inspection lights in the aviation industry.
Growing need for weatherproof and waterproof aviation lights, manufacturers are increasingly focusing on integrating the AeroLED products in the aircrafts attributed to the high lumen efficacy products. As the aeroLED lights are vibration and shock resistant, the manufacturers in the aviation industry prefer adopting the LED lights. Compared to the LED lights, the Xenon tube lead and Halogen bulbs are subject to airframe vibrations. Adoption of LED lights continue to remain high as they can tolerate the high vibration situations indeterminately.
In addition, the aircraft lightings will also continue to witness significant demand for the interior lights of the aircraft. Surge in demand for the cabin lights, walls and ceilings light, reading light and signage lights is projected to impact the global market growth of the aircraft navigation positively. Growing need to see the signage for passenger safety is projected to rev up demand for signage lights. Also, the need to access or store their luggage safely will further rev up demand for lightings in the aircraft.
Lack of lighting in the ceilings and walls, and interior of the aircraft could lead to increasing incidences of accidents and collisions, which will have a negative impact on the passengers. In order to offer convenient travelling to the customers, aircraft manufacturers are focusing on incorporating LED lights in the interiors and exteriors of the aircraft. These factors are expected to impact the global market growth of aircraft lighting during the forecast period.
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Sales of the Ceilings & Wall Lights to Remain High
As the need to maintain safety within the flight arises, manufacturers are increasingly integrating the lights in the ceilings and walls of the aircraft. In terms of revenue, the ceilings & wall lighting type segment is projected to highest growth, recording more than US$ 200 Mn by 2026-end. On the other hand, the anti-collision lighting type segment is projected to reflect the highest CAGR during the forecast period. By 2017-end, the narrowbody aircraft type segment is projected to represent a robust revenue growth, accounting for more than US$ 300 Mn. In contrary, the freighters aircraft type segment is projected to reflect a significant CAGR by 2026-end.