According to a recent report published by Allied Market Research, titled, “Aircraft Lighting Market by Interior Light, Exterior Light, Aircraft Application, and Light Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global aircraft lighting market was valued at $1.4 billion in 2019, and is projected to reach $2.0 billion by 2027, registering a CAGR of 4.7%.
North America dominates the market in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global aircraft lighting market share in 2019, and is expected to grow at a significant rate during the forecast period, due to increase in demand for aircraft equipped with advanced lightings.
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The key players analyzed in this report are Aeroleds, Astronics Corporation, Beadlight Limited, Bruce Aerospace, Cobham PLC, Heads Up Technologies, Honeywell International Inc., Madelec Aero, Safran, and Whelen Aerospace Technologies.
By interior light, the market is categorized into emergency lights, specialty lights, wash lights, reading lights, and lavatory lights. The wash lights and reading lights accounted for the highest revenue in 2019, owing to high adoption of wash lights, as they illuminate the interior of the aircraft to offer enhanced visibility to passengers along with the availability of wide product portfolio from key market players. However, the reading lights segment is anticipated to witness the highest CAGR of 5.0% during the forecast period, owing to increase in demand for brighter lights to be used in aircraft, thus providing better experience to passenger while reading books or using devices.
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Key Findings Of The Study
- By interior light, the reading light segment is expected to register a significant growth during the forecast period.
- Depending on exterior light, the aircraft visibility light segment is anticipated to exhibit significant growth in the near future.
- On the basis of aircraft application, the business jets segment is projected to lead the global aircraft lighting market owing to higher CAGR as compared to other aircrafts.
- North America is anticipated to register the highest CAGR.
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