Report sees aircraft lighting market topping US$2 billion by 2020
The aircraft lighting market, estimated to be at $1.46 billion this year, is expected to grow with a compound annual rate of 5.43% to reach $2.01 billion by 2020, according to a report announced today by MarketsandMarkets a global research and consulting company.
Chief among the revenue producing products are reading lights, according to the report. “Increase in air travel and enhancement in passengers experience drive the market,” said a release from MarketsandMarkets. “Narrow body aircraft show the highest business potential throughout the study period.”
Commercial aviation now has new entrants from emerging economies in the narrow body segment that are fueling business for aircraft component manufacturers. The A320 family and 737 are significant aircraft in today’s aviation network.
The aircraft lighting market report provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of major companies in the industry, and other key news. It provides information about the leading competitors in this market.
The leading players in aircraft lighting market include B/E Aerospace Inc., Goodrich Corporation, Diehl Aerosystems, Zodiac Aerospace, EMTEQ, Luminator Technology Group, Astronics Corporation, Honeywell International, and Cobham Plc.
The full report is available for purchase from the company.