airport lighting Market

The global airport lighting market accounted for US$ 540.6 Mn in 2018 and is expected to grow at a CAGR of 7.7% during the forecast period of 2019 - 2027, to account US$ 1,039.2  Mn by 2027.

The global airport lighting market is experiencing steady growth during the forecast period. Owing to the adoption of solar powered LED lighting solutions and renovation of existing airports. In order to cut short the operational costs, the airport authorities are increasingly inclining towards cost-efficient lighting solution. Solar powered LED lights offer significantly lesser costs as compared to its counterpart. However, under-investments towards new construction as well as renovation of existing airports in North American countries are directly hindering on the growth of airport lighting market in the current scenario.

A key trends which will predominantly affect the airport lighting market in the coming years are the growing trend of integrating advanced technologies in airfield ground lighting solutions. The airport lighting solutions have come a long way with continuous advancements in the industry. Also, the adoption of technologically robust airfield lighting systems has been remarkable over the years. The airport lighting system manufacturers are investing significant time and amounts in R&D of new product. There is an increasing emphasize on R&D of advanced lighting solutions to cater to the demand for brighter and cleaner lights. This factor is attracting several airport authorities to adopt the advanced airport lighting solutions in recent times, which pose a significant opportunity for the industry players operating in the airport lighting market.

Airport lighting market by application is segmented into existing airports and new airports. Existing airports holds the highest market share. Growing investments by the government and airport authorities of different countries around the world for airports modernization is anticipated to boost the market growth. For instance. the Russian government is continually working towards the enhancement of runways and taxiways with the utilization of advanced lights. This factor has positively impacted the airport lighting manufacturer’s businesses.

The overall airport lighting market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the airport lighting market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the airport lighting industry.