Aircraft Lighting Market Global Outlook to 2026: Asia-Pacific to Grow with the Highest CAGR During the Forecast Period
DUBLIN, Dec. 22, 2021 /PRNewswire/ -- The "Aircraft Lighting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Aircraft Lighting Market is anticipated to grow at a CAGR of more than 3% during the forecast period.
The COVID-19 pandemic has drastically affected the line-fit aspect of aircraft lighting as several airlines have deferred their delivery schedules and have forced the aircraft OEMs to reduce their monthly rate of production of new aircraft.
However, the aftermarket prospects of aircraft lighting have increased, as, in the absence of new aircraft, airlines are preferring to modernize the cabin layout of their existing fleet to retain their level of service at par with their new counterparts.
Certain factors such as the rising adoption of innovative cabin lighting and the growing demand for luxury air travel are anticipated to drive the market during the upcoming period.
Factors such as the rising adoption of innovative cabin lighting and the growing demand for luxury air travel are anticipated to drive the market during the upcoming period.
Emerging trends such as mood lighting systems, integration of interactive screens in aircraft cabins, and the adoption of photoluminescent emergency cabin lighting, are envisioned to provide growth opportunities for the players in the market during the forecast period.
Key Market Trends
The Interior Lights Segment is Expected to Dominate the Market
The demand for the newer generation interior lights in the aircraft is estimated to grow rapidly over the forecast period owing to the ongoing cabin modernization programs of several aircraft operators, especially from commercial airlines.
The widespread adoption of LED ambient lighting technologies across new generation aircraft has also triggered cabin retrofitting activities in older generation aircraft to maintain homogeneous service quality in the entire fleet.
To improve passenger experience, airlines are expected to invest in new LED lightings in the coming years. Also, to enhance the safety of the passengers during the Covid-19 pandemic, airlines are also looking at options like ultraviolet sanitizing lights that can be fitted into panels and deployed when the aircraft is empty, to destroy viruses, and germs on the surfaces.
Thus the focus of the airlines on enhancing passenger safety and in-flight experience is expected to drive the growth of the segment during the forecast period.
Asia-Pacific to Grow with the Highest CAGR During the Forecast Period
Over the last decade, Asia-Pacific has been the focal point of business activities with countries such as China, India, and Japan witnessing a high number of foreign investments, which has resulted in rapid economic growth. This has contributed a fair bit to the overall growth of the region's aviation sector in terms of flight frequency and enhanced customer experience.
The success of the low-cost carrier (LCC) model has contributed to a steady rise in passenger traffic in the region. It has also created significant opportunities for aircraft and associated system manufacturers like the lighting systems manufacturers. The demand for new aircraft is expected to be the highest in the Asia-Pacific.
Even during the Covid-19 pandemic, airlines in the region were optimistic about their future growth and have taken deliveries of aircraft in large quantities. For instance, the Indian low-cost carrier IndiGo took delivery of 44 aircraft in 2020, nearly as many as the year before, which is the highest for a single customer for Airbus for the year. such developments are expected to help the growth of the commercial aircraft segment in the region.
On the other hand, the region is also expected to witness the highest demand for military aircraft, with countries like China, India, Japan, South Korea, and Australia poised to add several new military aircraft to their fleet during the forecast period, which is expected to drive the aircraft lighting market in Asia-pacific during the forecast period.
Companies Mentioned
- STG Aerospace
- Honeywell International Inc.
- Diehl Stiftung GmbH & Co. KG
- Astronics Corporation
- Bruce Aerospace Inc.
- Raytheon Technologies Corporation
- Cobham Limited
- Lufthansa Technik AG
- SCHOTT AG
- Soderberg Manufacturing Co. Inc.
For more information about this report visit https://www.researchandmarkets.com/r/wjm344
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SOURCE Research and Markets
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