NEW YORK, April 21, 2021 /PRNewswire/ -- The global market for airfield ground lighting grew at a promising CAGR of little over 6% until 2020. A study by consulting firm Fact.MR projects the market to grow threefold at an impressive pace of 11% CAGR through 2031. Investments in the expansion of airport infrastructure, rising military expenditure, and rising airport construction projects are primary factors driving the demand of airfield ground lighting.
According to the study, key players are using advanced technologies such as Artificial Intelligence-based airfield ground lighting to improve their future prospects. They also are incorporating the Internet of Thinking (IoT) enabled features in airfield lights that can be grounded on runaways. These technological advancements are propelling the market growth at a robust pace.
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Demand for LED airfield ground lighting will continue to rise especially with the integration of IoT and solar power. Manufacturers are preferring LED airfield ground lighting over Halogen airfield ground lighting for airports, and heliports. Advantages such as reduced cost, low maintenance, and low failure rate have been aiding overall expansion of the market.
"Key market players are investing in product launches and are incorporating IoT and AI to offer greater technology and increase penetration across lucrative markets" says a Fact.MR analyst.
Military Airports to emerge as a potential use case segment for airfield ground lighting market
LED airfield ground lighting segment is projected expand at 13% CAGR through 2031
United Kingdom is expected to lead the European airfield ground lighting market at 11% CAGR during the forecast period
Halogen airfield ground lighting to exhibit a sluggish growth at around 4% CAGR
China anticipated to witness boom through 2031 owing to the increasing investment on airport infrastructure
United States to dominate the market with an impressive pace of over 6.6% CAGR through 2021 & beyond
India to emerge as a potential market backed by increased military expenditure by government
Key companies profiled by Fact.MR for global airfield ground lighting market include ADB SAFEGATE, TKH Airport Solutions, ATG Airports Limited, Flash Technology LLC., Honeywell International Inc., Midstream Ltd., OCEM Airfield Technology, Amglo-Kemlite Laboratories Inc., Vosla GmbH, Youyang Airport Lighting Equipment Inc., AMA Private Limited, Airsafe Airport Equipment Co. Ltd., and TRANSCON ES among others. Strategic meergers, acquisitions, and partnerships with prominent airports, heliports and military airports are some of the key focus areas among the leading market players.
For instance, in February 2020, Phoenix Lighting announced partnership with Airport Lighting Company (ALC), a leading supplier of airfield lighting. Through this partnership, ALC will add Phoenix Highland and Meridian High mast LED fixtures and the Lighting Intelligence Technology wireless controls platform to their product offering.
Also, in August 2020, TKH Airport Solutions announced the acquisition of prestigious contract for airfield ground lighting based on CEDD technology for Istanbul Sabiha Gokcen International Airport.
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More Valuable Insights on Airfield ground lighting market
Fact.MR has published a latest market research report on global airfield ground lighting market for the period 2021-2031. The study gives an unbiased analysis on the trends, challenges and opportunities of the market expected to prevail in the upcoming years. In order to gain a better understanding, the market is segmented on the basis of type (approach & side row lights, runway & taxiway lights, precision approach path indicator, final approach & take off lights for heliports, touchdown & lift off lights for heliports), light source (LED lights, and halogen lights), use case (commercial passenger & cargo airports, military airports, and heliports), category (CAT-1 (LIRL), CAT-II (MIRL), and CAT-III (HIRL)), and regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
Key Questions Covered in the Report
What type of airfield ground lights are preferred?
How will the airfield ground lighting market expand till 2031?
Which country is the most lucrative for airfield ground lighting market?
Which is the most lucrative segment of the airfield ground lighting market?
Which are the prominent players operating in the market?
What is the impact of Covid-19 on airfield ground lighting market?
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