Commercial Airport Lighting Market To Grow Extremely And Reach USD 734.6 Million by 2022
The major companies in the commercial airport lighting market comprise Philips, Honeywell International Inc., Avlite Systems, Safegate, Cooper Industries, Siemens AG, Manairco Inc., Airfield Lighting, Goodrich Lighting Systems, GE, and Astronics. These players are set to keep the commercial airport lighting market at new heights.
According to the researchers at Zion Market Research, the global commercial airport lighting market was capitalized USD 489.5 Million in 2016 and is likely to cross almost USD 734.6 Million by 2022, at a CAGR of almost 7% between 2017 and 2022.
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Rise In Requirement For The Airport Light Goods To Power The Global Commercial Airport Lighting Market
The commercial airport lighting is a big market that is attaining attraction owing to the rise in requirement for the airport light goods all over the world. Owing to its application in the area of navigating approach to the pilot and offering a visual help during the journey and also at the time of landing, the commercial airport lighting market has attained huge success and is likely to branch out more in the years to come. The commercial airport lighting market is likely to grow at a CAGR of almost 7% in the forecast period. The commercial airport lighting market is likely to cross USD 734.6 Million by end of 2022 in terms of revenue. Various M&A by the market players is also one of the reasons that are responsible for the development of the commercial airport lighting market. For example, in January 2018, the majority shares in Laser Guidance Inc. were acquired by Avlite Systems.
Increasing Focus Towards Lowering Energy Consumption And Control Of Maintenance Costs To Power Commercial Airport Lighting Market Growth
The players in the commercial airport lighting market have been admiring on the innovations in terms of tech improvements and to elevate the durability & safety. Increasing focus towards lowering energy consumption and control of maintenance costs are some of the boosters that power the growth of the commercial airport lighting market. The up-and-coming nations are likely to offer lucrative growth avenues to the worldwide commercial airport lighting market in comparison to the developed nations with enhanced infrastructure.
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The global commercial airport lighting market is divided into divisions, types, and regions. The type division for the commercial airport lighting market comprises visual glidescope indicator, airport beacon, precision approach path indicator (PAPI), visual approach scope indicator (VASI), runway edge lighting, runway lighting, obstruction lighting, taxiway lighting, and others. Moreover, based on the division, the commercial airport lighting market is divided into landside lighting, airside lighting, and terminal lighting among others. The commercial airport lighting market is analyzed on the basis of five areas such as Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The regional sector is classified into different nations such as the U.K., the U.S., Germany, France, Japan, China, Brazil, and India.
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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