NEW YORK, May 24, 2016 /PRNewswire/ --
"The aircraft lighting market (ALM) projected to reach USD 2.55 billion by the end of 2021"
According to the projections in this report, the aircraft lighting market (ALM) is estimated to grow from USD 1.99 billion in 2016 to USD 2.55 billion by 2021, at a CAGR of 5.08% during the forecast period from 2016 to 2021. Factors that drive the aircraft lighting market include increasing number of aircraft orders and deliveries, and use of energy efficient aircraft lights.
"Retrofit segment to witness the highest growth during the forecast period"
The key applications considered for market study are increase in aircraft orders as well as deliveries, economic growth across regions, increase in low cost carriers and domestic civil aviation. The software retrofit segment is projected to grow at a comparatively higher CAGR during the forecast period of 2016 to 2021, primarily driven by the MRO services for aircraft lighting systems.
"The wide body aircraft provides significant opportunities for growth"
Wide body aircraft is expected to exhibit highest market share in the aircraft lighting market during the forecast period from 2016 to 2021. This growth is mainly attributed to its twin-aisle allowing seven or more seats abreast. Wide body aircraft being considered under this report study include A300, A340, and A350 family aircraft, and Boeing 757, 767, 777, and 787. North America currently holds the largest market share for aircraft lighting systems.
"Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to register the highest CAGR rate in the aircraft lighting market during the forecast period from 2016 to 2021. This growth in the region can be attributed to increase in government spending for commercial airplane and the growing GDP of the region.
Break-up of profile of primary participants for the report has been given below.
- By Company Type – Tier 1- 45%, Tier 2 -35%, Tier-3 -20%
- By Designation- C Level- 50%, D level – 35%, Others – 15%
- By Region – North America – 44%, Europe – 35%, APAC – 15%, RoW – 6%
Aircraft lighting has evolved over the course of time in terms of technology. The advanced LED lights are replacing the traditional fluorescent lights as these lights are heavy and emits heat when they are used for long time. The overall focus over the years has remained on increasing the efficiency of the lighting system with less maintenance cost and long life.
The major companies profiled in the report include are B/E Aerospace Inc. (United States), Cobham plc. (United Kingdom), UTC Aerospace Systems (United States), Honeywell International Inc. (United States) and Diehl Stiftung & Co. KG (Germany), among others.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, supply-chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the aircraft lighting market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on aircraft lights offered by top players in the global aircraft lighting market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the aircraft lighting market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for aircraft lighting across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft lighting market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the aircraft lighting market
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