Aircraft industry and aviation domain both are progressing at a high pace, imparting the sales of aircraft exterior lighting systems in near future. Based on a recently published report by Future Market Insights, a growing trend of replacement of old aircraft parts will significantly contribute to the growth of global aircraft exterior lighting market. However, the overall growth is foreseen to be sluggish through to 2027.
What is the estimated outlook for global aircraft exterior lighting market in next decade?
According to our market analysis, the global market for aircraft exterior lighting is will observe passive growth at a CAGR of nearly 3.7% over the course of the forecast period 2017-2027. By 2027 end, the market is expected to be valuated at US$ 624 Mn. The overall growth outlook is sluggish.
How would you define the competitive landscape of global aircraft exterior lighting market?
In an effort to meet specific craft requirements, leading manufacturers are focusing on introduction of new, innovative, application-specific products. Moreover, they are increasingly channelizing their efforts in delivery channels consolidation, keeping direct sales on the center stage. Besides Rockwell Collins, a leading company serving domestic as well as international customers with constant R&D, there are some other key companies participating in the global marketplace for aircraft exterior lighting – United Technologies Corp., Honeywell International Inc., Zodiac Aerospace S.A., Diehl Aerospace Gmbh, Aveo Engineering Group, s.r.o., Whelen Engineering Co., Inc., Astronics Corporation, and Cobham plc.
Are aircraft exterior lighting system sales substantial in Asia Pacific region? How would you compile the factors responsible for this highly growing market?
Yes, APAC emerges as the key region in global aircraft exterior lighting market. Asia pacific has been seeing a soaring rise in number of air passengers over the past decades. Moreover, it has become a key region in aviation traffic, which will continue to sustain the market for aircraft exterior lighting systems in near future. With enlarging fleet sizes all over the globe, it is quite certain that various aircraft systems will also witness steady demand.
Which markets will be crucial for APAC?
While China has always been one of the important contributors to global traffic growth due to robust rise in passengers, India is likely to emerge as a high-growth economy in the next decade, eventually supporting the onset of the largest commercial aviation markets.
How will regulatory standards impact the global sales of aircraft exterior lighting systems?
Regulatory standards will most likely hold a negative impact on the global sales of aircraft exterior lighting systems. Regulations regarding pollution caused by aircrafts and generation of greenhouse gases are anticipated to become more stringent in near future. In addition, aircrafts coming for refurbishing may decline to a great extent, as aircraft owners are increasingly preferring new fleet purchasing over refurbishing the old ones in order to meet the regulatory standards set by authorities.
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