Growth in the recent five years is primarily driven by three major factors, such as rising demand for energy efficient aircraft lights and noteworthy increase in aircraft deliveries.
Aircraft lighting system plays a vital role in the overall functioning of aircraft and it also adds aesthetically to the design of the aircraft. Lighting has a significant impact on the cabin environment and enhances the interior of the aircraft. There is continuous development in improving overall look and design of interior & exterior lighting system for airplanes. Airline companies are more inclined towards installing LED lighting instead of conventional incandescent, halogen, and fluorescent tube systems considering the overall savings in the maintenance of aircraft. Technological developments are essential for continuously driving the market as the demand for lights migrate from incandescent to LED lights and other modern-day solutions. Thus, manufacturers in the aircraft lighting market are focused on developing novel systems that facilitate ease in installation, long life provides lower maintenance, and weight savings of the aircraft.
The aircraft industry builds aircraft and manufactures aircraft parts, in turn, supports aviation in their maintenance. Boeing, Airbus, Bombardier, Embraer, Beech Aircraft Corporation, and Cessna Aircraft Company are few of the major companies in aircraft manufacturing. In 2017, Airbus has exceeded its aircraft manufacturing and delivery targets by supplying 718 aircrafts to various customers across the globe as compared to 688 commercial aircrafts in 2016. The deliveries of aircrafts included 78% A320 family aircrafts, 11% of A350 family aircrafts, 9% of A330 family aircrafts and 2% of A380 family aircrafts. Airbus also delivered 19 A400M to its military customers in 2017. The company recorded a net orders of 1,109 units in the same year. The closest competitor of Airbus, the US based aircraft manufacturer, Boeing also delivered 763 commercial aircrafts, and 60 military aircrafts in 2017. This growth in production of the number of aircraft is attributed to the replacement of aging aircraft, specifically in North America. Most of the replacement of the aging fleet of commercial aircraft is due to the revenue requirements of the operating airlines and operating efficiency. Moreover, new regulations, airspace modernizations, and emerging environmental concerns have also contributed to the retirement of older jets.
Key findings of the study:
The market for aircraft lighting market is concentrated with large number of players operating in the field. The major companies operating in the market includes Honeywell International Inc., Cobham Plc., Zodiac Aerospace, STG Aerospace Ltd., Rockwell Collins, Diehl Stiftung & Co. KG, Astronics Corporation, Oxley Group, United Technologies Corporation, and Bruce Aerospace.