NEW YORK, Oct. 26, 2016 /PRNewswire/ -- "The airport lighting market is projected to grow at a CAGR of 7.2% from 2016 to 2021"
The airport lighting market is expected to grow from USD 473.7 million in 2016 to USD 672.2 million by 2021, at a CAGR of 7.2% during the forecast period. The airport lighting market is predominantly driven by the increasing number of airports globally. Increase in demand for low-cost lights in the emerging countries is considered as one of the most significant factors driving the growth of the airport lighting market. In addition to this, the increasing usage of LED lights and mood lighting are further propelling the growth of this market.
"The runway lighting systems segment is projected to grow at the highest CAGR in the airport lighting market"
The runway lighting systems segment in airport lighting market is anticipated to grow at the highest CAGR during the forecast period. Runway edge lights are installed along both sides of the runway, in two parallel straight rows equidistant from the center line of the runway, commencing one light spacing from the threshold and continuing to one light spacing from the runway end. There are three types of runway lighting systems, namely, low intensity, medium intensity, and high intensity. The apron lighting systems is the second fastest-growing type segment in the airport lighting market.
"The North American region holds a dominant market share in the airport lighting market"
North America dominates the global airport lighting market. Countries in this region include the U.S. and Canada. The North America airport lighting market is mainly driven by the large number of original component manufacturers (OCMs), original equipment manufacturers (OEMs), and third-party servicers. Easy availability of sub-parts and components for airport lights, mature aftermarket, and high passenger and cargo traffic are some of the factors driving this market.
Break-up of profile of primary participants for this report:
- By Company Type - Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Key players in the airport lighting market include ADB Airfield Solutions, Honeywell International, Inc., ABB, Hella KGaA Hueck & Co., and ATG Airports, among others.
Reasons to buy the report:
From an insight perspective, the airport lighting market report has focused on various levels of analysis — industry analysis, market share analysis of top players and company profiles, which together comprise and discuss the basic views on the competitive landscape, high-growth regions and countries and their respective regulatory policies, drivers, restraints, and opportunities.
The airport lighting market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on airport lighting equipment offered by the top 10 market players
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading market players
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