March 28, 2015: According to a Research and Markets report, the global aircraft lighting market is valued at $1,469.50 million and is expected to grow to $2.01 billion by 2020. The aircraft lighting market is expected to grow at a CAGR of 5.43% from 2014-2020.
A huge demand is expected for aircraft lights in the Asia-Pacific region, primarily due to increasing deliveries of A380, A350 XWB, B787 Dreamliner, B747-400S, and many other LED-integrated aircraft models.
The narrow body aircraft market has the highest potential to grow in the LED lighting market. Reading lights are projected to be the maximum revenue generator among the different types of aircraft cabin lights. Increased production of aircraft will also drive the LED lighting market.
Airlines are currently trying to tackle rising fuel prices, which is a major challenge. This has forced them to enhance efficiency in their aircraft cabin lighting system. There has been immense research and development in areas of low power consuming lights and adding value to the passengers experience using lighting systems.
The current trend is to include more LED lighting in cockpits and cabins. Many legacy systems still incorporate incandescent lamps, but all new designs are expected to include LEDs in the cabin.
The industry is witnessing new entrants from emerging economies in the narrow body segment. These, in turn, act as a boon for the aircraft component manufacturer. The Airbus A320 family and Boeing 737 are significant aircraft in today’s aviation network. Leading global players in aircraft lighting market include B/E Aerospace Inc., Goodrich Corporation, Diehl Aerosystems, Zodiac Aerospace, EMTEQ, Luminator Technology Group, Astronics Corporation, Honeywell International, and Cobham Plc.
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