Aircraft cabin lighting market projected to grow to $2 billion by 2022

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The aircraft cabin lighting market is projected to grow from an estimated $1.46 billion in 2017 to USD 2.00 billion by 2022.

The aircraft cabin lighting market is projected to grow from an estimated $1.46 billion in 2017 to $2 billion by 2022.

This growth can be attributed to factors such as increased demand for interior light systems, as most of the airlines are upgrading their cabin interiors to increase efficiency and provide better service to passengers. However, the lack of profitable airlines in emerging economies is expected to restrain the growth of this market.

Based on end user, the aftermarket segment is estimated to account for the largest share of the aircraft cabin lighting market in 2017. The aftermarket phase is one of the crucial phases of the aircraft cabin lighting market, as post-delivery retrofit modification is done by the airlines. All major companies are focusing on aftermarket and maintenance, repair and overhaul (MRO) services for cabin lighting

North America is estimated to account for the largest share in the aircraft cabin lighting market in 2017. Major aircraft manufacturers, such as Boeing, Lockheed Martin, Bombardier, Bell Helicopter, Sikorsky Aircraft, BAE Systems, The Raytheon Company, and General Dynamics, among others, are based in this region, and thus generate high demand for aircraft cabin lights.

North America is projected to lead the aircraft cabin lighting market during the forecast period, in terms of market share. The Asia Pacific aircraft cabin lighting market is projected to grow at the rate CAGR during the forecast period, owing to the presence of emerging aircraft manufacturers, such as COMAC (China) and Mitsubishi Aircraft (Japan), among others.

The Asia Pacific market has witnessed strong growth in the past few years, mainly due to the rising air passenger traffic. The growth in air passenger traffic has resulted in the increased demand for aircraft cabin lights, and this trend is expected to continue over the next five years.

Read the full report: www.reportlinker.com/p04880616

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