Aircraft Cabin Lighting Market: Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow Till 2027
Aircraft Cabin Lighting Market Overview
Aircraft cabin refers to the part of aircraft in which passenger travels. In recent years, aircraft cabin lighting system has witnessed various technological developments. Newly developed aircraft cabin lighting system helps in saving the fuel consumption of the aircraft. At the same time, these lights improve the attractiveness of the aircraft.
Market Size and Forecast
Global aircraft cabin lighting market is expected to flourish at a CAGR of 6.1% during the forecast period. Additionally, aircraft cabin lighting industry is expected to garner USD 2,803 Million by the end of 2024. Moreover, growth of aircraft industry across the globe is envisioned to bolster the growth of the aircraft cabin lighting market in the upcoming years. Furthermore, rising demand for retrofit lighting is envisioned to strengthen the growth of the global aircraft cabin lighting market.
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In the terms of regional platform, North America dominated the overall aircraft cabin lighting market in 2016. Further, North America is expected to continue its dominance over the forecast period 2017-2024. Increasing adoption of technological advanced LED lights is anticipated to fuel the demand for aircraft cabin lighting system in the region. More importantly, government involvement in the development and growth of aircraft industry is expected to fuel the growth of aircraft cabin lighting market. U.S. is the major contributor to the growth of the aircraft cabin lighting market in the North America region. This growth can be attributed to rising number of air passengers coupled with increasing demand for aircrafts. Europe grabbed second position in global aircraft cabin lighting market. Rising demand and adoption of retrofit aircraft cabin lights in the region is expected to intensify the growth of the aircraft cabin lighting market in the Europe.
Asia Pacific is projected to witness lucrative growth during the forecast period. Unprecedented growth of aircraft industry in the region is expected to drive the demand for aircraft cabin lighting market during the forecast period. Further, increasing adoption of innovative aircraft cabin lighting systems and rising demand for high quality lighting products is believed to foster the growth of the aircraft cabin lighting market. Countries such as China, Japan and India are expected to be the major contributor to the growth of the aircraft cabin lighting market owing to the growth of the domestic and commercial aircraft segment.
On the basis of fit, global aircraft cabin lighting market has been segmented into line-fit and retro-fit. Retrofit accounted for the largest share in overall aircraft cabin lighting market in 2016. Additionally, this segment is anticipated to grow at highest CAGR over the forecast period.
Our in-depth analysis has segmented global aircraft cabin lighting market into the following segments:
By Light Type
Wall, floor and Ceiling Lights
Spot and Reading Lights
Global Aircraft Cabin Lighting Market Size
By Aircraft Type
Narrow Body Aircraft
Wide Body Aircraft
Global aircraft cabin lighting market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
Increase in number of air travels and positive growth of aircraft industry across the globe is substantially raising the demand for the aircraft cabin lighting market. Moreover, rising disposable income coupled with changing lifestyle of the people such as frequent adoption of air travels is expected to boost the growth of the aircraft cabin lighting market. Additionally, rising demand for commercial aircrafts in the developing regions such China, Brazil and others is anticipated to be dynamic factor behind the growth of the global aircraft cabin lighting market.
Apart from this, technological advancement such as development of innovative LED aircraft cabin lights and organic LED lights is likely to accelerate the growth of the aircraft cabin lighting market. In addition, technologically advanced aircraft cabin lights are light weight and consume less power. These factors are anticipated to strengthen the market of the aircraft cabin lighting globally.
However, high cost of advanced cabin lighting systems is believed to dampen the growth of the global aircraft cabin lighting market during the forecast period.
Honeywell International Inc.,
Key Product Offerings
Diehl Aerospace GmbH
STG Aerospace Ltd.
United Technologies Corporation
Rockwell Collins, Inc.
Soderberg Manufacturing Inc.
Aveo Engineering Group
Scope and Context
Overview of the Parent Market
The global aircraft cabin lighting market is segmented as follows:
By Light Type Market Size & Y-O-Y Growth Analysis
By Fit Market Size & Y-O-Y Growth Analysis
By Aircraft Type Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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This post was originally published on Aerospace Industry