The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Airport Lighting Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Airport Lighting Market is no different. Derived from the previous market scenario, the Airport Lighting Market is likely to grow at >7% CAGR during the forecast period, but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Market Share Analysis
Airport Lighting Market Share by Light Type
There are several types of lighting system used in an airport, such as runway lighting system, taxiway lighting system, approach lighting, obstruction & beacon lighting, and apron & hanger lighting. Runway lighting system is expected to remain the largest lighting type during the forecast period whereas, apron & hanger lighting system is also expected to experience healthy growth during the same period.
Airport Lighting Market Share by Technology Type
In terms of technology type, LED lights are expected to witness the highest growth during the forecast period, driven by increasing focus on energy efficiency and reduction in overall operation and maintenance cost of the airport.
Regional Insights
North America is expected to remain the largest lighting market for airport applications during the forecast period due to the presence of large number of commercial and military airports and high focus towards energy efficiency and low operational cost. Asia Pacific is expected to grow at the highest rate in the next five years. The developing countries, mainly China and India are likely to drive the demand of airport lighting systems in the Asia-Pacific region in the next five years, driven by on-going and upcoming airport infrastructure projects.