Aircraft Lighting Systems Market Growing at a CAGR of 5.1% from 2017 to 2023

The leading market players have developed customized lighting systems and equipment to cater to the needs of consumers.

PORTLAND, OR, UNITED STATES, February 22, 2022 /EINPresswire.com/ -- The global aircraft lighting systems market size was valued at $1,579 million in 2016, and is expected to garner at $2,204 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023. Aircraft lighting systems market provide illumination in aircraft to passengers and crew. Interior lighting system is a part of the aircraft design and ensures a convenient travel experience for passengers. These are categorized into floor, wall, and ceiling lights, reading lights, lavatory lights, and signage lights. Furthermore, the exterior lighting systems provide visibility in bad weather conditions and protect against collision. These lights include aircraft visibility lighting, pilot visibility lighting, specific purpose lighting, and exterior emergency lighting. Airline operators have used advanced lighting systems to improve infrastructure, increase customer satisfaction, and offer innovative value-added services.

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Major Market Players:
• DIEHL STIFTUNG & CO. KG
• ZODIAC AEROSPACE
• UNITED TECHNOLOGIES CORPORATION
• B/E AEROSPACE, INC
• LUMINATOR AEROSPACE
• COBHAM PLC
• HONEYWELL INTERNATIONAL INC
• STG AEROSPACE LIMITED
• ASTRONICS
• GELTRONIX AVIATION LIGHT

The leading market players have developed customized lighting systems and equipment to cater to the needs of consumers. In addition, they focus on exploring novel technologies and applications through technology demonstration to increase their market outreach. LED lighting systems are adopted by airline operators, owing to higher efficiency, lower costs, and enhanced quality of light. Moreover, collaborations and acquisitions are expected to enable the leading players to enhance their product portfolios and expand into different geographical regions. Furthermore, high demand for energy efficient lighting systems in the emerging economies, such as Asia-Pacific and LAMEA, along with increase in privatization of airlines in the aircraft lighting systems market is expected to provide numerous growth opportunities during the forecast period.

The factors that drive the global aircraft lighting systems market are increase in air travel, growth in demand for new aircraft, and rise in need for light-weighted aircraft components & new technological advancements. However, high initial costs hamper the market growth.
The report focuses on the growth prospects and restraints of the market based on the analysis of the regional trends. The study includes Porter’s Five Forces analysis of the industry to understand the impact of various factors, such as competitive intensity of competitors, threat of new entrants & substitutes, and bargaining power of buyers & suppliers in the aircraft lighting systems market growth.

The global aircraft lighting systems market is segmented into light type, aircraft type, and region. Based on light type, it is bifurcated into exterior and interior lighting systems. Based on aircraft type, it is classified into wide body, narrow body, very large aircraft, and regional jets. The market in analyzed based on region across North America, Europe, Asia-Pacific, and LAMEA including the country level analysis for each of these regions.
Technological advancements, in terms of miniaturization of components, implementation of advanced technologies, such as LED and organic LED lighting systems, integration of lightweight products, implementation of smart lighting, use of energy efficient lighting equipment, and associated software, have encouraged the airline operators to invest in advanced aircraft lighting system for long-term benefits.

Key Benefits
• This study includes the analytical depiction of the global aircraft lighting systems market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed impact analyses.
• The current aircraft lighting systems market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the aircraft lighting systems industry.

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