(MENAFN- GlobeNewsWire - Nasdaq) The Global Aircraft LED market Size was valued at USD 1.5 Billion in 2023 and the Worldwide Aircraft LED Market Size is expected to reach USD 2.1 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Astronics Corporation, Aveo Engineering Group, Collins Aerospace, Cree, Inc., Diehl Aviation, Honeywell Aerospace, Luminator Aerospace, Precise Flight, Inc., Rockwell Collins, Safran, STG Aerospace, UTC Aerospace Systems, and other key companies.
New York, United States , July 17, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft LED Market Size to grow from USD 1.5 Billion in 2023 to USD 2.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.42% during the forecast period.
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The aircraft LED market is expanding rapidly due to increased demand for energy-efficient lighting solutions and advances in aviation technology. LED lighting is preferred over traditional lighting systems due to its increased lifetime, cheaper maintenance costs, and lower power usage. The market is being driven by increased air travel, the need to modernise current aircraft, and strict government rules on energy use and emissions. Commercial, military, and private aviation are key sectors, with retrofitting existing fleets and equipping new aircraft driving market growth. LED technological advancements, such as customisable illumination and increased durability, are improving passenger experience and operating efficiency. Major manufacturers are spending in R&D to gain market share, demonstrating the competitive and dynamic nature of the aircraft LED market.
Aircraft LED Market Value Chain Analysis
The aircraft LED market value chain has numerous stages, beginning with raw material suppliers who provide critical components like as semiconductors, lenses, and substrates. These materials are subsequently processed by LED manufacturers, who design and manufacture lighting systems. The LED components are then manufactured and integrated into lighting systems by specialised organisations. Following that, OEMs (original equipment manufacturers) and aftermarket service providers install the systems in both new and retrofitted older aircraft. These LED systems are supplied to end users like as airlines and military organisations through various distribution methods, including direct sales and third-party distributors. Throughout the chain, strict adherence to aviation standards and regulations is maintained, ensuring safety and reliability. Continuous innovation and stakeholder collaboration drive value chain improvements and efficiencies.
Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the " Global Aircraft LED Market Size, Share, and COVID-19 Impact Analysis, By Aircraft (Narrow-Body, Wide-Body, Regional Jet, and General Aviation), By Application, (Ceiling and Side-Wall Lights, Emergency Lights, Sign Lights, Cockpit Lights, and Others) By End-Use (OEM and Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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Insights by Aircraft
The narrow body segment accounted for the largest market share over the forecast period 2023 to 2033. Narrow-body aircraft, which are frequently used for short to medium-haul flights, are being widely modified with LED lighting systems to improve energy efficiency and save maintenance costs. Airlines are concentrating on modernising their fleets to fulfil rigorous environmental rules while also improving passenger experience through customisable LED lighting options. The increase in low-cost carriers and regional air travel drives up demand for narrow-body aircraft, which boosts the market for LED lighting. LED systems' technological developments, which provide improved performance and a longer lifespan, make them an appealing option for narrow-body aircraft operators seeking to maximise operating efficiency and passenger happiness.
Insights by Application
The ceiling and side-wall lights segment accounted for the largest market share over the forecast period 2023 to 2033. Adjustable brightness and colour settings enhance the entire passenger experience. This segment's growth is accelerated by the tendency of modernising older aeroplanes and equipping new ones with innovative lighting technologies. LED design innovations, like as mood lighting and dynamic lighting scenarios, enhance the appeal of flights, making them more enjoyable and restful. Furthermore, the push for greener, more sustainable aviation operations promotes the widespread use of LED lighting in aeroplane cabins.
Insights by End User
The aftermarket segment accounted for the largest market share over the forecast period 2023 to 2033. Airlines are investing in LED lighting to increase energy efficiency, lower maintenance costs, and improve passenger comfort. The drive to sustainable and ecologically friendly flying operations is also boosting demand for LED retrofits, which use less power and have longer lifespans than traditional lights. Furthermore, the increasing number of ageing aircraft fleets demands improvements to meet current standards and regulations. The aftermarket business benefits from technical improvements that enable customisable and simply installable LED systems, making it a cost-effective choice for airlines looking to modernise their cabins without incurring significant downtime.
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Insights by Region
North America is anticipated to dominate the Aircraft LED Market from 2023 to 2033. The North American aircraft LED market is expected to grow significantly, owing to the region's strong aviation sector presence and an increased emphasis on energy-efficient technology. Major airlines and aircraft manufacturers in the United States and Canada are actively using LED lighting solutions to cut operational costs and improve the passenger experience. The region benefits from a solid infrastructure, cutting-edge technological capabilities, and a strong emphasis on innovation. Stringent environmental requirements and regulatory assistance for energy-efficient products help to drive market adoption even higher. Furthermore, the existence of major industry players and a high rate of air travel help to drive market growth. North America's proactive attitude to fleet upgrades, combined with rising demand for new aircraft, highlight the region's vital role in the worldwide aircraft LED market.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Countries are investing considerably in modernising their aviation infrastructure, resulting in an increase in the use of energy-efficient LED lighting systems. The market benefits from the increased number of new aircraft deliveries and the retrofitting of ageing fleets to fulfil regulatory and sustainability requirements. Furthermore, the region's burgeoning middle class and rising disposable incomes are driving demand for better passenger experiences, which LED lighting can deliver. Local producers are also entering the market, increasing competition and promoting innovation. Government measures promoting energy efficiency and technology developments contribute to the Asia-Pacific aircraft LED market's strong growth trajectory.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Vendors in the Aircraft LED Market Dynamics are Astronics Corporation, Aveo Engineering Group, Collins Aerospace, Cree, Inc., Diehl Aviation, Honeywell Aerospace, Luminator Aerospace, Precise Flight, Inc., Rockwell Collins, Safran, STG Aerospace, UTC Aerospace Systems, and other key companies.
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Recent Market Developments
In February 2022, Boeing has renewed its agreement with Diehl Aerospace, a subsidiary of Diehl Aviation, to supply the interior lighting system for the Boeing 787 Dreamliner.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft LED Market, Aircraft Analysis
Narrow-Body Wide-Body Regional Jet General Aviation
Aircraft LED Market, Application Analysis
Ceiling and Side-Wall Lights Emergency Lights Sign Lights Cockpit Lights Others
Aircraft LED Market, End User Analysis
Aircraft LED Market, Regional Analysis
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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