(Aviation-NewsWire.Com, June 28, 2019 ) According to the new market research report "Aircraft Lighting Market by Aircraft Type (Commercial, Military, Business), Platform (Fixed, Rotary), Light Type (Interior, Exterior), Fit (OEM, Aftermarket), System (Passenger Service Unit, Cockpit Control Unit) - Global Forecast to 2022", The aircraft lighting market is projected to grow from an estimated USD 2.25 Billion in 2017 to USD 2.94 Billion by 2022, at a CAGR of 5.48% during the forecast period. Increase in aircraft orders, increased passenger traffic, and increased upgradation of aircraft are some of the key factors driving the aircraft lighting market.
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The interior light segment in the aircraft lighting market is estimated to be the fastest-growing during the forecast period. This growth is attributed to an increase in the demand for ceiling and wall lighting for aircraft.
Based on aircraft type, the commercial aviation segment is projected to grow at the highest CAGR during the forecast period. Increase in aircraft orders and demand for enhanced passenger experience, especially in long-haul aircraft is one of the key factors driving this segment of the aircraft lighting market.
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Based on platform, the fixed wing segment in the aircraft lighting market is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to increased aircraft orders by airlines globally.
Based on fit, the aftermarket segment in the aircraft lighting market is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to increased upgradation of existing aircraft by airlines globally.
Based on system, the passenger service unit segment in the aircraft lighting market is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to increase in aircraft deliveries and upgradation of existing aircraft by airlines globally.
Asia Pacific is expected to be the fastest-growing market during the forecast period. The growth is largely due to an increase in air passenger traffic in emerging countries such as India and China and rise in commercial aircraft manufacturers in the region.
Major players operating in the aircraft lighting market include Zodiac Aerospace (France), United Technologies (US), Diehl Stiftung & Co. KG (Germany), Rockwell Collins (US), and Honeywell (US). These key players offer various aircraft light types including reading lights, ceiling lights, lavatory lights, signage lights, and wall lights. These companies have well equipped manufacturing facilities and strong distribution networks across North America, Europe, and the Asia Pacific.
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