Recent report published by research nester titled “Global Aircraft Cabin Lighting Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global aircraft cabin lighting market in terms of market segmentation by light type, by fit, by aircraft type 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.
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The global aircraft cabin lighting market is segmented into fit such as retro fit and line fit. Among these segments, retro fit aircraft cabin lighting segment is anticipated to occupy top position in global aircraft cabin lighting market. Further, high demand for retrofit light to enhance passenger experience is expected to intensify the growth of the retro fit aircraft cabin lighting market. Further, various airline companies are adopting retrofit cabin lighting. For instance, in October 2017, Spice Jet partnered with STG Aerospace to upgrade its aircraft fleet with retrofit cabin lights.
Global aircraft cabin lighting market is expected to flourish at 6.1% CAGR over the forecast period. Moreover, the global aircraft cabin lighting market is expected to garner USD 2,803 Million by the end of 2024. Increasing demand for commercial aircrafts, technological advancement in aircraft cabin lighting and rising number of air travels are expected to impel the growth of the global aircraft cabin lighting market.
In 2016, North America captured the largest market share in overall aircraft cabin lighting market. Further, North America is expected to continue its dominance over the forecast period. Rising passenger traffics, increasing demand for new aircrafts and presence of major companies in the region are some of the factors which are expected to behold the positive growth of the North America aircraft cabin lighting market in the upcoming years.
Europe market is anticipated to showcase significant growth in global aircraft cabin lighting market during the forecast period. This can be attributed to increasing consumer spending on air travels. Further, Asia Pacific is projected to witness robust CAGR over the forecast period. Enhancements by the airlines to provide utmost passenger experience is believed to impel the growth of the aircraft cabin lighting market in the region.
Positive Outlook for Global Aircraft Industry
Growth in the airline industry is anticipated to impel the demand for enhanced cabin lighting systems. Moreover, surge in the air travel and rising disposable income of the population are some of the factors behind the growth of the aircraft industry. These factors are anticipated to positively impact the growth of the global aircraft cabin lighting market.
Technological Advancement and Innovations
Innovations and enhancement in the technology has led to the development of cost effective lighting solutions. Moreover, advancement in LED aircraft cabin lights and its benefits such as low power consumption and reduction in weight are intensifying the demand for aircraft cabin lighting.
Although, high cost of advanced cabin lights is likely to inhibit the growth of the aircraft cabin lighting market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global aircraft cabin lighting market which includes company profiling:
Honeywell Aerospace, Diehl Aerospace GmbH, STG Aerospace Ltd, United Technologies Corporation, Astronics Corporation, Rockwell Collins, Inc., Zodiac Aerospace, Soderberg Manufacturing Inc., Aveo Engineering Group and Cobham plc.
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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 detailed overview of the global aircraft cabin 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.
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