Aircraft Cabin Lighting Market worth .0 billion by 2022
Posted by Sandeep Roy on October 17th, 2019
The Aircraft Cabin Lighting Market report provides an analysis of the market from 2017 to 2022. It discusses industry and technology trends that are currently prevailing in the aircraft cabin lighting market, along with the drivers, restraints, challenges, and opportunities. The aircraft cabin lighting market is projected to grow from an estimated USD 1.46 billion in 2017 to USD 2.00 billion by 2022, at a CAGR of 6.48% during the forecast period. This growth can be attributed to the increasing aircraft orders due to the rise in passenger traffic across the globe. Increasing emphasis on passenger experience is also driving the aircraft cabin lighting market.
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The aviation industry in emerging economies of the Asia Pacific and Latin America is expected to witness considerable growth during the forecast period. This growth can be attributed to factors, such as rise in passenger traffic across the globe due to increase in disposable incomes of the middle-class populations in emerging economies. This is expected to lead to a rapid growth in procurement of aircraft, and thus the demand for aircraft cabin lighting is expected to increase.
Aircraft cabin lighting has undergone tremendous technological advancements in the past decade. Aircraft cabin lighting manufacturers aim to develop products that are robust, lightweight, reliable, and energy-efficient. Technological advancements such as development of LED and OLED technologies are some of the latest trends that airlines are employing currently.
Based on end user, the OEM aircraft cabin lighting market is projected to grow at the highest CAGR during the forecast period. The growth in the OEM segment of the aircraft cabin lighting market can be attributed to the increase in aircraft deliveries in the Asia Pacific region.
Based on aircraft type, the wide body aircraft segment is projected to grow at the highest CAGR during the forecast period. The growth of this market can be attributed to the demand for enhancing passenger experience in commercial aircraft.
Based on light type, the reading lights segment of the aircraft cabin lighting market is expected to grow at the highest CAGR during the forecast period due to the increasing number of flight hours of commercial aircraft and increasing emphasis on passenger experience during air travel.
Asia Pacific is expected to be the fastest-growing aircraft cabin lighting market during the forecast period, due to the growth in the aviation industry and increase in aircraft deliveries in the region. The demand for passenger aircraft has increased in the last five years and is projected to increase in the coming years as well, as many airlines from the region have ordered aircraft.
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 452
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