Aircraft Lighting Market Outlook, Size and Share| 2031
The Aircraft Lighting Market size is projected to reach US$ 13.88 billion by 2031 from US$ 8.85 billion in 2023. The market is expected to register a CAGR of 6.8% in 2023–2031.
One of the major trends in the aircraft lighting market includes the demand for improved ambience from the airliners for their respective aircraft fleet. The airlines are focusing on innovating their respective interior ambience of commercial aircraft models to provide enhanced air travel experiences to their respective customers.
Aircraft Lighting Market Analysis
Aircraft lighting market is growing at a healthy growth rate after the significant negative impact during the FY2020 due to the held civil aviation operations caused by the COVID-19 pandemic. However, after the resuming of airline operations in 2021 (in some regions in 2022), the airlines have driven the demand for aircraft lighting through their respective airline maintenance operations for the existing fleets. This is also supported by the rise in demand for air travel from different regions propelled by the introduction of low-cost carriers as well.
Aircraft Lighting Market Overview
Aircraft lighting market is likely to witness significant growth in the coming years. The growth of the aircraft lighting market is due to some of the below key factors:
- The rising global aircraft deliveries
- Increasing demand from aircraft MRO operations due to the rising fleet demanding MRO checks
- Major backlogs of the major aircraft OEMs
- Rising electrification of aircraft
These factors are likely to show a significant impact in terms of healthy growth of the aircraft lighting industry.
However, the ongoing geopolitical war between different countries around the world is also likely to impact airline operations in the coming years which will further hamper the aircraft lighting market.
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Aircraft Lighting Market: Strategic Insights
Market Size Value in US$ 1.72 billion in 2022 Market Size Value by US$ 2.36 billion by 2028 Growth rate CAGR of 5.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Aircraft Lighting Market: Strategic Insights
| Market Size Value in | US$ 1.72 billion in 2022 |
| Market Size Value by | US$ 2.36 billion by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Aircraft Lighting Market Drivers and Opportunities
The Rising Global Aircraft Fleet
The rising global aircraft fleet is one of the major factors supporting the demand for aircraft lighting through both the line fit and retrofit segments. The increasing number of aircraft and helicopter deliveries across different regions is driving the demand for lighting systems; specifically, the demand for cabin and cockpit lighting systems. Some of the major aircraft OEMs i.e. Airbus and Boeing, in 2023, delivered around 735 and 528 commercial aircraft in 2023 respectively; compared to 663 and 480 aircraft in 2022. This shows a gradual increase in the number of aircraft delivered in a single year that has driven the majority portion of the aircraft lighting market in 2023.
Future Aircraft Deliveries is Likely to Provide New Future Opportunities
The future deliveries of commercial and military aircraft in the next twenty years are likely to generate huge opportunities for market vendors during the forecast period of 2024 to 2031. For instance, according to the two of the major aircraft OEM giants i.e., Airbus and Boeing, more than 40,800 aircraft are likely to be delivered between 2023-2042. This will further increase the global aircraft fleet size and will generate the opportunity for aircraft lighting from the aftermarket/retrofit segment as well in the coming years.
Aircraft Lighting Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Aircraft Lighting Market analysis are system type, technology, light type, fit type, aircraft type, end-user, and geography.
- Based on system type, the Aircraft Lighting Market has been segmented into cockpit console lights, cabin lights, cargo lights, seat proximity lights, and others. The cabin lights segment held a larger market share in 2023.
- By technology, the market has been segmented into traditional lights, LED lights, OLED lights, and others. The LED lights segment held the largest share of the market in 2023.
- In terms of light type, the market has been segregated into interior lights and exterior lights. The interior light segment dominated the market in 2023.
- In terms of fit type, the market has been bifurcated into line fit and retrofit. The line fit segment dominated the market in 2023.
- In terms of end-users, the market has been segmented commercial and military. The commercial segment dominated the market in 2023.
Aircraft Lighting Market Share Analysis by Geography
The geographic scope of the Aircraft Lighting Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aircraft Lighting Market in 2023, whereas, the Asia Pacific region is likely to witness significant growth during the forecast period. The market for aircraft lighting is foreseen to witness expeditionary growth in the Asia Pacific region, due to the huge demand for modification or retrofitting of advanced lighting solutions. The Middle East & Africa region is likely to witness a CAGR of around 5.5% during 2023-2031. This is mainly due to the presence of a recognized and large number of commercial aircraft fleets and airlines including Emirates, Qatar Airways, Etihad Airways, and Saudi Arabian Airlines invest significant amounts in the procurement of newer aircraft and also in modification of their existing fleet. The airlines constantly focus on enhancing customer experience, thereby, retrofitting the aircraft with advanced lighting systems is one of the major trends prevailing in the region.
Aircraft Lighting Market News and Recent Developments
The Aircraft Lighting Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft lighting market and strategies:
- In October 2023, Aviation Fabricators (AvFab) selected Elliott Aviation subsidiary Prizm Aircraft Products to provide RGBW wash lighting in its King Air 300-series headliner modification product. (Source: AvFab, Press Release/Company Website/Newsletter)
- In February 2021, Diehl Aerospace, a unit of the leading aircraft component supplier Diehl Aviation, secured a contract extension from Boeing for the delivery of the interior lighting system for the Boeing 787 Dreamliner. (Source: Diehl Stiftung & Co. KG, Press Release/Company Website/Newsletter)
Aircraft Lighting Market Report Scope
Aircraft Lighting Market Report Coverage and Deliverables
The “Aircraft Lighting Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Technology, and Light Type, Fit Type, Aircraft Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
- Honeywell International Inc
- Cobham Plc
- Safran Group
- STG Aerospace Ltd
- Raytheon Technologies Corporation
- Diehl Stiftung & Co. KG
- Astronics Corporation
- Oxley Group
- Bruce Aerospace
- Luminator Technology Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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