Global Aircraft Lighting Systems Market was valued at US$ 1.76 Bn in 2019 and is expected to reach US$ 2.65 Bn by 2026, at a CAGR of 5.25% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Aircraft Lighting Systems Market Dynamics
An aircraft is equipped with a variety of lights that are used for safety, navigation and to increase visibility during the takeoff or when taxiing on the ground.
The driving factors of the global aircraft lighting systems market are a rise in air travel, growth in demand for new aircraft, an increase in the need for light-weighted aircraft components new technological advancements. Moreover, the rising demand for energy-efficient lighting systems for safe navigation is driving the demand for the market.
The global aircraft lighting market is witnessing a great opening in low weight aircraft lights segment. However, the high cost associated with the initial installation of lighting systems limits the aircraft lighting systems market growth.
Global Aircraft Lighting Systems Market Segment Analysis
The Interior light segment in the aircraft lighting market is expected to be the fastest-growing during the forecast period. This growth is attributed to the rise in demand for ceiling and wall lighting in aircraft.
The passenger service unit segment is estimated to grow at the highest CAGR during the forecast period. The growth can be attributed to growing aircraft deliveries and the up-gradation of existing aircraft by airlines globally.
Global Aircraft Lighting Systems Market Regional Insights
North America led the global aircraft lighting systems market in 2019 owing to declining fuel prices. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing orders of aircraft and light accessories from other countries.
Global Aircraft Lighting Systems Market, Key Highlights:
• Global Aircraft Lighting Systems Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Aircraft Lighting Systems Market
• Global Aircraft Lighting Systems Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Aircraft Lighting Systems Market strategic analysis with respect to individual growth trends, future prospects along the contribution of various sub-market stakeholders have been considered under the scope of the study.
• Global Aircraft Lighting Systems Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Aircraft Lighting Systems Market are also profiled.
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Scope of the Global Aircraft Lighting Systems Market: Inquire before buying
Global Aircraft Lighting Systems Market, by Aircraft Type
• Commercial
• Military
• Business
Global Aircraft Lighting Systems Market, by Light Type
• Interior
• Exterior
Global Aircraft Lighting Systems Market, by System
• Passenger Service Unit
• Cockpit Control Unit
Global Aircraft Lighting Systems Market, by Geography
• North America
• Europe
• Asia-Pacific
• Middle East Africa
• South America
Global Aircraft Lighting Systems Market Key Players
• Diehl Stiftung Co. Kg.
• Zodiac Aerospace
• United Technologies Corporation
• B/E Aerospace, Inc.
• STG Aerospace Limited
• Luminator Aerospace
• Cobham PLC.
• Honeywell International Inc.
• Astronics
• Geltronix Aviation Light
• Goodrich Corporation
• Soderberg Manufacturing Company Inc
• Aveo Engineering Group
• Bruce Aerospace
• Heads Up Technologies Inc.
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