The MarketsandMarkets global forecast report “Aircraft Lighting Market by Fit Aircraft Type, Light Type, Technology and by Geography – Global Forecast to 2021” has projected the Aircraft Lighting Market (ALM) could reach USD 2.55 billion by 2021 at a CAGR of 5.08 percent, the company said.
A number of factors, such as growth in aircraft deliveries, increase in low cost carriers, domestic civil aviation and efficient alternatives for the existing installed lights will drive the growth of the ALM market. The retrofit aircraft lighting market is expected to grow the highest during the forecast period. The regional transport aircraft is projected to grow the highest during the forecast period.
The global aircraft lighting market has been segmented and analyzed in terms of two types of by fit, namely, linefit and retrofit, wherein, the retrofit segment dominates the overall market in terms of market size, and is expected to exhibit a similar trend during the next five years because of the increasing aftermarket and MRO services for aircraft lighting systems.
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