According to a new market report published by Credence Research, Inc., “Global Aircraft Exterior Lighting Market (By Product Type (Anti-collision Lights, Navigation Lights, Landing & Taxi Lights, Strobe Lights, Logo & Branding Lights, Egress & Service Lights and Wings & Engine Lights), By Aircraft Type (Commercial Aviation, Military Aviation and Business Aviation)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global aircraft exterior lighting market is expected to witness a growth of 4.7% CAGR during the forecast period from 2018 to 2026.
The global aircraft exterior lighting market was valued at US$ 2,387.2 Mn in 2017, growing at a CAGR of 4.7% during the forecast period from 2018 to 2026. Aircraft lighting systems provides interior and exterior illumination to the aircraft. Lights are well placed across different sections of the plane to provide pilots with guidance and visibility while navigating through the sky. The aircraft lightings on an airplane provides information to pilots in normal and in emergency situations. Increasing demand for energy efficient lighting systems for safe navigation is one of the major factors driving the aircraft exterior lighting market.
Aircraft exterior lightings are subject to extreme conditions and require high reliability. Growing size of the airline industry is also credited to improved standards of living of the global population, which in turn is creating greater demand for aircrafts, thereby directly influencing the market growth. The global aircraft exterior lighting market, based on product type was led by navigation lights in 2017. Rising need for safe navigation is driving the demand for navigation lights in the aerospace industry. The aircraft navigation lights serve an extremely important purpose by helping pilots determine the relative direction and position of travel of an aircraft. Based on aircraft type, commercial aviation led the market and projected to continue with its dominance throughout the forecast period from 2018 to 2026. The growth of this segment is primarily backed by the growing demand for wide body and large commercial aircrafts. Further, based on geography, North America led the aircraft exterior lighting market in 2017. The presence of some prominent players like Honeywell International Inc., UTC Aerospace Systems, Rockwell Collins, Inc., Heads Up Technologies Inc., and Devore Aviation Corporation of America, etc. expected to provide lucrative growth opportunities in the region. Also, the presence of major commercial aircraft manufacturers including Airbus, Boeing, Bombardier Aerospace, etc., compliments the demand for aircraft exterior lighting products.
Browse the full report at https://www.credenceresearch.com/report/aircraft-exterior-lighting-market
Major players in the aircraft exterior lighting market include Astronics Corporation, Aveo Engineering Group, s.r.o., Cobham plc, Devore Aviation Corporation of America, Diehl Stiftung & Co. KG, Heads Up Technologies Inc., Honeywell International Inc., Oxley Group, Rockwell Collins, Inc., Soderberg Manufacturing Company, Inc., UTC Aerospace Systems, Whelen Engineering Company, Inc., and Zodiac Aerospace among others. The aircraft exterior lighting manufacturers are adopting several strategies in order to thrive in the competitive environment. Partnerships, new product developments remain the most important strategies that are been adopted by the key players to gain an edge over others.
For instance, in July 2016, Oxley Group extended its business agreement with Saab in the leading edge LED lighting systems for Saab’s next generation Gripen fighter aircraft. Under this business agreement, Oxley joined forces with Saab on the new Gripen E aircraft programme and created an improved exterior aircraft lighting solution with better optical performance and functionality.
The Global Aircraft Exterior Lighting Market is Segmented into:
|Segmentation||Product Type Segment (2016-2026; US$ Mn)|
|Aircraft Type Segment (2016-2026; US$ Mn)|
|Geography Segment (2016–2026; US$ Mn)|
*Complete segmentation list is on report page