Aircraft Cabin Lighting Market Is Expected to Hit $1.74 Billion by 2026: Says Allied Market Research

Increase in aircraft deliveries, effective alternatives to existing interior lights, and rise in number of air passengers fuel the growth of the global aircraft cabin lighting market. Based on fit, the retro fit segment garnered more than half of the total market revenue in 2018. On the other hand, based on geography, Asia-Pacific is projected to register the fastest CAGR of 5.7% during 2019–2026.


Portland, OR, Nov. 20, 2019 (GLOBE NEWSWIRE) -- According to the report, the aircraft cabin lighting market was estimated at $1.16 billion in 2018 and is expected to hit $1.74 billion by 2026, registering a CAGR of 5.2% during the estimated period. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.

Rise in aircraft deliveries, effective alternatives to existing interior lights, and surge in number of air passengers are the major factors propelling the growth of the global aircraft cabin lighting market. On the other hand, existing backlog of aircraft deliveries and high initial cost curb the growth to certain extent. Nevertheless, high-end advancement in interior lighting system technology has paved the way for a number of lucrative opportunities in the near future.

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The commercial segment to dominate by 2026

Based on aircrafts, the commercial segment contributed to nearly half of the total market revenue in 2018 and is projected to retain its dominance during the forecast period. The same segment is also expected to register the fastest CAGR of 5.4% throughout 2019–2026.

The retro fit segment to lead the trail

Based on fit, the retro fit segment accounted for more than half of the total aircraft cabin lighting market share in 2018 and is expected to rule the roost during the study period. At the same time, the line fit segment would cite the fastest CAGR of 5.2% by 2026.

Europe held the major share in 2018

Based on geography, Europe garnered the major share in 2018, contributing to nearly one-third of the total market. At the same time, the region across Asia-Pacific would generate the fastest CAGR of 5.7% till 2026.

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Frontrunners in the industry

Key market players analyzed in the global aircraft cabin lighting market report include:

  • Devore Aviation Corporation of America
  • Cobham PLC.
  • Luminator Technology Group
  • STG Aerospace
  • Diehl Stiftung & Co. KG.
  • United Technologies Corporation
  • Soderberg Manufacturing Company Inc.
  • Safran
  • Geltronix Aviation Light
  • Astronics Corporation

These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launches to brace their stand in the aircraft cabin lighting industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


            

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