ID: MRFR/A&D/1092-CR | November 2016 | Region: Global | 133 pages
Market Research Future (MRFR) expects the Commercial Airport Lighting Market to register a growth rate of around 8% over the evaluation period (2018 to 2023).
The COVID-19 outbreak has had a debilitating impact on the commercial airport lighting industry, given the travel bans, temporary shutdown of several manufacturing facilities and the weakened product demand. Amidst the growing focus on curbing the spread of SARS-CoV-2, players in the global market for commercial airport lighting are trying to boost their supply chains and accelerate their operations to restrict further revenue losses. Additionally, with the gradual lifting up of the lockdown across countries and the novel coronavirus under control, the global market should be able to remain resilient throughout the ensuing period.
Increased Focus on Modification of Existing Airports to Bolster Market Size
The commercial airport lighting industry has been growing at a stellar pace owing to the rising number of new airports and the increased focus on upgradation of the present airport infrastructure across various countries. The bigger aim is to accommodate the consistently surging passenger traffic. Also, the increasing focus of the airports on bringing down energy consumption and cutting down carbon emissions also bolster the market value.
Furthermore, the growing inclination from traditional incandescent lights to the use of solar power LEDs at airports will also benefit the commercial airport lighting market. The dramatic surge in passenger traffic and the subsequent rise in the need for better passenger experience as well as safety can enhance the global commercial airport lighting market size in the near future.
Soaring Demand for Smart Lighting Systems to Present Opportunities to Firms
Smart lighting is expected to emerge as a lucrative opportunity for the firms in the global market, in view of the escalating demand across major airports in various countries. Quicker threat detection along with fast response at high-risk locations like luggage handling, maintenance hangars & tunnels and airport apron will foster the demand for smart lighting in airports in the years to follow. Mounting public concern related to sound and light pollution also pushes the demand for smart lighting systems.
Economic Crisis Across Developing Countries to Pose Challenges
Some of the major challenges that can be faced by the global market over the evaluation period include the poor economic status of a few countries and the strict administrative and regulatory policies pertaining to airports.
Focus on Energy Conservation to Boost Demand for LED Technology
Technology-wise, the commercial airport lighting market has been considered for LED as well as Non-LED. The LED segment has taken the leading position, on account of the mounting need to conserve energy and cut down maintenance costs.
Airside Lighting Segment to Take the Top Spot
Application-wise, the market can be split into terminal lighting, landside lighting and airside lighting. The airside lighting is in huge demand in line with the growing need for better safety as well as assistance during landing and takeoff. As a result, the airside lighting market can experience the fastest growth in the coming years.
North America to Remain the Leading Market
North America secured the top position in 2017, and has successfully remained in the lead ever since, thanks to the constantly airport developments in Canada and the US. The large network of established firms like ADB SAFEGATE, Honeywell International Inc., and others the region also ensures the region’s dominance over the global market. In addition to this, rising funding granted by the US government for the modification and upgradation of airports, high emphasis on the reduction of energy consumption and bringing down toxic emissions in airports could further favor the commercial airport lighting market in the ensuing years.
APAC to Race Ahead Rapidly as China Witnesses Spike in the Number of Passengers
Asia Pacific will be the fastest advancing market for commercial airport lighting in the near future with India, China, Australia/ New Zealand and Japan increasingly focusing on upgrading the infrastructure of their airports to deal with the escalating air traffic. China remains one of the most lucrative markets in the region, in view of the steady rise in the number of passengers and the country’s plan to construct close to 74 airports by 2021-end, which would take the total to 260. The Indian market is not far behind, with the Rajiv Gandhi International Airport in Hyderabad soon to be 100% LED-lit. These sorts of initiatives taken up by the government across various countries in the region can be favorable for the market in the following years.
Players Focus on Offering Lighting Systems with Better Quality to Gain the Upper Hand
Manufacturers are primarily focused on developing lighting systems with better features to cater to the constantly evolving tastes and preferences of the consumers. Additionally, market leaders frequently collaborate or acquire other firms to expand their offerings and also the customer base. In view of these factors, the global market has become extremely competitive, while the presence of large and small firms also adds to the rivalry quotient.
Furthermore, expansion of the production capacity and geographical footprint, R&D investments, robust client base and product offerings are a few other highly crucial focus areas for the players to try and gain a competitive edge in the global market. Firms are also competing on the basis of product quality, reliability, cost as well as aftermarket services. It is absolutely vital for companies to provide high-quality and technically innovative commercial airport lighting systems to remain ahead in the fiercely competitive industry.
List of Key Companies Covered in this Report
Honeywell International Inc. (US)
ADB SAFEGATE (US)
vosla GmBH (Germany)
atg airports limited (UK)
Avionics Group (US)
HELLA GmBH & Co. KGaA (Germany)
July 2020 – Cochin International Airport Ltd recently got up equipped with an advanced Aeronautical Ground Lighting system called CAT-III, which helps improve the visual acuity and also offers the operating pilot with close to flawless alignment guidance during landing, especially in extreme weather conditions.
January 2021 – Libya’s key airports, Sebha, Mitiga (Tripoli), Misrata and Benina (Benghazi) will be receiving funding from the Libya Stability Support Fund, for deployment of solar energy systems with respect to airside lighting.
The report overview has listed the global commercial airport lighting market size, commercial airport lighting market share across certain regions and the commercial airport lighting market growth rate over the review timeline. The study also presents the latest commercial airport lighting market trends, especially following the outbreak of the COVID-19 pandemic and the effects of the novel coronavirus and the lockdown on the demand. The report also throws light on the latest business scenario covering the expected as well as the historical value, in terms of volume and value, technological developments, and the top factors that foster market growth. Additionally, the report profiles the notable manufacturers along with the competitive strategies adopted by them to stay relevant.
Scope of the Report
The scope of the report offers the commercial airport lighting market forecast, with major focus on commercial airport lighting market uses, the various commercial airport lighting market types and the growth potential of the US commercial airport lighting market.
Frequently Asked Questions (FAQ) :
The global aircraft component MRO market is touted to record a substantial market valuation by 2023.
The global Commercial Airport Lighting market is projected to register a moderate CAGR in the forecast period.
The massive demand for commercial aircraft actuation systems driven by the growing air passenger traffic is the market's primary growth inducer.
The LED segment is expected to observe substantial demand over the review period.
The airside lighting segment is expected to secure the highest CAGR.
The APAC segment is slated to expand as the fastest-growing segment.