Aircraft Lighting Market estimated to grow at a CAGR of 5.4% in the forecast period

26 Feb 2021, IndustryNewsGlobal // -- The report on the Aircraft Lighting Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2020-2025.

The report also offer insights into different market segments and other factors affecting the market.

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Aircraft Lighting Market is expected to inflate at a CAGR of >5% by the forecast period.

As per the report, the market is segmented by:

• by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others) – Narrow-body aircraft will remain the largest segment of the market.
  • by Light Type (Interior Lights, Exterior Lights, and Others) – Both light types will observe healthy growth rates in the market.
  ● by Technology Type (LED Light, Halogen Light and Others)
  ● by Fit Type (OE and Aftermarket)
  ● and by Region (North America, Europe, Asia-Pacific, and RoW) – North America to remain the largest market.

Highlights of the Report:

The global aircraft lighting market is projected to grow at a CAGR of >5% during the forecast period. Healthy future growth rate offers a plethora of opportunities to the entire ecosystem of the market. Some of the major factors bolstering the demand for lighting products in the aircraft industry are-

• Increasing production rates of key commercial and regional aircraft, such as B737, B787, A320, A350XWB, and C Series
• Upcoming commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ
• Requirement of lighting products with longer life, reduced power consumption and lower maintenance
• Increasing global aircraft fleet size

Lighting in an aircraft performs illumination to both interior as well as exterior sections of an aircraft. There has been a continuous development of lighting products targeting the key areas that include the consumption of low power, longer life, and higher output. These advancements must be met at a lower cycle time along with cost-effective solutions. Other important factors for the consideration for lighting manufacturers are the reduction in maintenance cost and excellence in performance. Airlines have been demanding the finest lighting products which have an efficient operation and reduced maintenance.

Aircraft Lighting Market Share Analysis

Aircraft Lighting Market Share by Aircraft Type

The aircraft lighting market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft. The narrow-body aircraft is expected to remain the largest segment of the market during the forecast period. Increasing production rates of key narrow-body aircraft to support the rising passenger and cargo traffic, rising global aircraft fleet, increasing the lighting content per aircraft, and an advancement in the lighting technology are the major growth drivers of the segment’s lighting market.   Wide-body aircraft is likely to witness the highest growth during the same period, driven by an increasing demand for wide-body aircraft, such B787, and A350XWB, especially in the developing economies, such as China and India. There is also a healthy demand for wide-body aircraft in the Middle East region.

Aircraft Lighting Market Share by Light Type

The aircraft lighting market is also segmented based on the light type as Interior and Exterior lighting. Interior lighting includes reading lights, ceiling & wall lights, signage lights, cockpit lights, floor path lighting strips, lavatory lights, and other interior lights, whereas exterior lighting includes position lights, wing and engine lights, anti-collision lights, landing lights, emergency & utility lights, cargo & service lights, and other exterior lights. Both light types (interior and exterior) are likely to witness healthy growth rates in the market over the next five years.

Aircraft Lighting Market Share by Technology Type

The aircraft lighting market is further segmented based on the technology type as LED, Halogen, and Others. The LED light type segment is the most attractive technology type for aircraft lighting majorly due to longer life of about 10,000 to 20,000 hours as compared to traditional halogen lights which usually have a lifespan in the range of 500 to 3000 hours. Further LED light also consume lower power which can contribute towards higher fuel efficiency and translate cost savings, along with making more power available for passengers’ comfort such as in-flight connectivity and entertainment.

Regional Insights

Based on the regions, North America is projected to remain the largest aircraft lighting market during the forecast period. This region has been the pioneer in the aerospace & defense industry and is the manufacturing capital with the presence of small- to large-sized OEMs in each aircraft category. Most of the players have manufacturing and assembly plants in North America. Additionally, various major lighting manufacturers for the aerospace industry are in the region to support OEMs for the development of advanced products meeting airline requirements.

Key Players

Some of the major companies in the aircraft lighting market are-

• Astronics Corporation
• Bruce Aerospace
• Cobham plc
• Diehl Stiftung & Co. KG
• Honeywell Aerospace
• Rockwell Collins
• UTC Aerospace Systems and Zodiac Aerospace

Development of advanced lighting products which consume lower power, last longer, and can withstand harsh environment; and collaboration with OEMs and airlines are some of the key strategies adopted by companies to gain a competitive edge over other competitors.