Jan 27, 2021 (AmericaNewsHour) -- Research Nester has released a report titled " Commercial Aircraft Lighting Market - Global Demand Analysis & Opportunity Outlook 2028"which delivers a detailed overview of the commercial aircraft lighting market in terms of market segmentation by product type, aircraft type, technology, fit, merchant and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
Commercial aircraft lighting is the aircraft's primary source of illumination. It has two main purposes. Outdoor lighting provides night lighting for navigating, signalling, landing and anti-collision, while indoor lighting provides illumination for equipment, supplies, crew platforms, and cabins.
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The market is segmented by product type into interior and exterior. Among these segments, the interior segment accounted for the largest market share and it is expected to grow significantly over the forecast period owing to the fact that it is a crucial component that is required for illumination moreover, upgrading the existing aircraft lighting with LED technology, the demand for interior light in the commercial aircraft has increased.
The commercial aircraft lighting market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. Growing need amongst aircraft operators and aircraft manufacturers for passenger comfort, the substantial rise in worldwide aircraft orders, and the switch from incandescent lighting to LED lighting are some of the factors anticipated to contribute significantly towards the growth of the commercial aircraft lighting market.
Regionally, the commercial aircraft lighting market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market for commercial aircraft lighting in North America is predicted to hold the leading share on account of the presence of leading manufacturers of commercial aircraft in the region.
Increase In The Number Of Passengers Opting For Air Travel
The International Civil Aviation Organization (ICAO), in one of its statistics, stated that passengers carried on scheduled services reached 4.3 billion in the year 2018, which was an increase by 6.4% from the year 2017.
The statistics portray the increasing passenger traffic around the globe, which is also raising the need amongst aircraft operators for enhanced passenger comfort. Backed by the increasing focus on the ever-increasing air traffic, there is a rising demand for commercial aircraft amongst the aircraft manufacturers as well as aircraft operators, which is anticipated to be one of the major factors driving the growth of the commercial aircraft lighting market.
However, the concern about delivering elements of the same design over the life cycle of an aircraft with new technology is a big challenge and it is anticipated to hamper the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the global commercial aircraft lighting market which includes company profiling of Honeywell International Inc. /zigman2/quotes/205583690/composite HON -1.58% , STG Aerospace Limited, Bruce Aerospace Inc., United Technologies Corporation /zigman2/quotes/203237915/composite RTX -1.91% , Astronics Corporation /zigman2/quotes/202583142/composite ATRO -3.37% , Diehl Stiftung & Co, Soderberg Manufacturing Co. Inc. and Luminator Holding, L.P. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global commercial aircraft lighting market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
The Final Report will cover the impact analysis of COVID-19 on this industry @ https://www.researchnester.com/sample-request-2551
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