Commercial Airport Lighting Market Size, CAGR Value and Growth of Industry by 2030
Market Overview
Commercial Airport Lighting Market Size is expected to reach USD 4.544 billion by 2030, registering a CAGR of 7.1% during 2020-2030.
Airport Lighting includes all kinds of lighting to assist in the daily flight operations and improve the airport's appearance. Lightning systems used as indicators for flight landings, take-offs and parking, and lights for the airport indoors, runway edges, runway ends, wind cones, and more make up commercial airport lighting.
The construction of new airports and the modernisation of the current airport infrastructure to handle increasing passenger traffic are the main drivers of the commercial airport lighting market CAGR. Increasing investment by private companies in airport infrastructure is also boosting the growth of this market. The increasing demand for energy-efficient airport lighting such as LEDs to replace conventional incandescent lighting is also expected to fill this market.
The covid-19 pandemic had a detrimental effect on the airport lighting market. Passenger traffic decreased by 60% in 2020 and 50% in 2021. The resulting loss of revenue to airline operators has slowed down the investment in airport lighting. However, with the pandemic in abeyance, the market is expected to pick up the pace.
Key Players:
Honeywell International Inc (US), voila GmBH (Germany), ADB SAFEGATE (US), atg airports limited (UK), HELLA GmBH& Co KGaA (Germany), ABB (Switzerland), Eaton (Ireland), Avlite (Australia), Carmanah (Canada), Avionics Group (US)
Market Segmentation
Based on type, the global commercial airport lighting market data is divided into runway lighting systems, taxiway lighting systems and apron lighting systems. Runway lighting is the most crucial airport lighting for assisting in-flight landing and take-off. The runway lighting system is estimated to register the highest CAGR in the forecast period.
Based on application, the global Commercial Airport Lighting Market Size is divided into airside lighting, landside lighting and terminal lighting. Airside lighting is the dominant segment because it is a mandatory requirement in airport lighting. Terminal lighting is expected to show significant growth in the forecast period because of increasing demand for improving the appearance of airports.
Based on positions, the global Commercial Airport Lighting Market Size is divided into inset or in-pavement lights, elevated lights and precision approach path indicators. The elevated lights segment has the largest share in the market. However, the inset/in-pavement lights segment is projected to register the highest CAGR in the forecast period.
Regional Segmentation:
Based on geography, the global Commercial Airport Lighting Market Size is divided into North America, Europe, Asia Pacific, the Middle East and the Rest of the World.
The Asia Pacific holds the largest share in the global Commercial Airport Lighting Market and is estimated to grow at the fastest rate in the forecast period. Construction and modernisation of airports to cater to the rapidly increasing air traffic in this region is driving the demand for airport lighting systems.
Industry News:
● In August 2021, Thiruvananthapuram airport in India installed an advanced Precision Approach Lighting System to improve the safety of flight landings.
● In March 2021, TKH Airport Solutions launched a new line of elevated airfield lights.
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