Rise in demand for air travel, technological advancements, and
surge in adoption of LED technology are the factors that drive the
growth of the aircraft passenger exit path lighting market.
PORTLAND, Ore. , April 30,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Aircraft Passenger Exit Path Lighting
Market by Light Source (LED, Fluorescent, and Incandescent),
Aircraft Type (Commercial Aircraft, General Aircraft, and Others),
and Lighting Type (Floor Proximity Lighting and Emergency Exit
Signs): Global Opportunity Analysis and Industry Forecast,
2023-2032". According to the report, the aircraft passenger
exit path lighting market was valued at $585.2 million in 2022, and is estimated to reach
$1,101.8 million by 2032, growing at
a CAGR of 6.8% from 2023 to 2032.
(We are providing connected ship Industry report as per
your research requirement, including the Latest Industry Insight's
Evolution, Potential and Russia-Ukraine War Impact Analysis)
• 155 - Tables
• 50 - Charts
• 283 – Pages
Prime Determinants of Growth
The growth of the aviation industry, including passenger air
traffic, is a key driver for the growth of the aircraft passenger
exit path lighting market. As air travel continues to increase
globally, a corresponding need for more aircraft equipped with exit
path lighting systems is expected to ensure passenger safety.
Furthermore, stringent safety regulations imposed by aviation
authorities such as the FAA, EASA, and others mandate the
installation of exit path lighting systems in commercial aircraft.
Any updates or revisions to these regulations that require enhanced
safety features drive the growth of exit path lighting systems.
Request Sample of the Report on Aircraft Passenger Exit Path
Lighting Market Forecast 2032
https://www.alliedmarketresearch.com/request-sample/A323161
Report Coverage & Details:
Aspects
|
Details
|
Forecast
Period
|
2023-2032
|
Base Year
|
2022
|
Market Size in
2022
|
$585.2
million
|
Market Size in
2032
|
$1101.8
million
|
CAGR
|
6.8 %
|
No. of pages in
report
|
350
|
Segment
covered
|
Light Source, Aircraft
Type, Lighting Type, and Region
|
Driver
|
Rise in the demand for
air travel
|
Technological
advancements
|
Rise in adoption of LED
technology
|
Restraints
|
Cost
constraints
|
Integration
challenges
|
Opportunity
|
Rise in emphasis on
passenger safety and the need for efficient emergency
preparedness
|
Procure Complete Report (283 Pages PDF with Insights, Charts,
Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/aircraft-passenger-exit-path-lighting-market-A323161
Impact of Russia-Ukraine War Scenario
• Ukraine is a major producer
of components used in various industries, including aerospace. The
Russia-Ukraine conflict has disrupted manufacturing
operations or logistics routes in Ukraine or neighboring countries, which has
led to shortages or delays in the supply of materials and
components used in exit path lighting systems. This affects
production schedules and availability of exit path lighting systems
for aircraft manufacturers.
• In addition, geopolitical tensions and conflicts create
uncertainty in global markets, affecting investor confidence,
currency exchange rates, and overall economic stability.
Instability in the region lead to fluctuations in raw material
prices, transportation costs, and labor availability, impacting the
cost of production for exit path lighting systems.
The LED segment to maintain its leadership status throughout
the forecast period
On the basis of light source, the LED segment held the highest
market share in 2022, accounting for more than three-fifths of the
global aircraft passenger exit path lighting market
revenue. This is attributed to the fact that LEDs are highly
energy-efficient, consuming significantly less power compared to
traditional lighting sources such as incandescent or fluorescent
bulbs. This energy efficiency is crucial in aircraft where
minimizing power consumption is essential for fuel efficiency and
operational cost savings. However, the incandescent segment is
projected to manifest the fastest CAGR of 9.3% from 2023 to 2032,
This is attributed to the fact that Incandescent lights were likely
readily available in the market at the time of increased demand for
aircraft exit path lighting. Availability plays a crucial role in
the adoption of any technology, and if incandescent lights were
more accessible compared to alternatives, they would have been more
likely to dominate the market.
The commercial aircraft segment to maintain its leadership
status throughout the forecast period
On the basis of aircraft type, the commercial aircraft segment
held the highest market share in 2022, accounting for more than
half of the global aircraft passenger exit path lighting market
revenue. This is attributed to the fact commercial aircraft
are subject to stringent safety regulations set forth by aviation
authorities such as the federal aviation administration (FAA) and
the European Aviation Safety Agency (EASA). These regulations
mandate the installation of specific exit path lighting systems to
ensure passenger safety during emergencies, driving market demand.
However, the general aircraft segment is projected to manifest the
fastest CAGR of 8.7% from 2023 to 2032, This is attributed to the
fact that general aircraft might have introduced innovative and
advanced technologies in their exit path lighting systems, making
them more efficient, reliable, and attractive to customers.
The floor proximity lighting segment to maintain its
leadership status throughout the forecast period
On the basis of lighting type, floor proximity lighting segment
held the highest market share in 2022, accounting for more than
three-fourths of the global aircraft passenger exit path lighting
market revenue and is estimated to maintain its leadership status
throughout the forecast period. This is attributed to the fact that
floor proximity lighting illuminates the path to the exits on the
floor, providing clear guidance to passengers even in low-light
conditions or dense smoke, enhancing passenger safety. However, the
emergency exit signs segment is projected to manifest the fastest
CAGR of 9.9% from 2023 to 2032, this is due to the fact that
emergency exit signs use universally recognized symbols and colors
to indicate the location of emergency exits, making them easily
identifiable to passengers regardless of language or familiarity
with the aircraft.
North America to maintain
its dominance by 2032
On the basis of region, North
America held the highest market share in terms of revenue in
2022, accounting for more than one-third of the global aircraft
passenger exit path lighting market revenue. This is
attributed to the fact that North
America has one of the largest air travel markets globally,
with millions of passengers flying domestically and internationally
every year. This high demand for air travel necessitates a
significant number of aircraft, leading to a proportionate demand
for safety equipment like exit path lighting. However, Asia-Pacific is expected to witness the
fastest CAGR of 10.0% from 2023 to 2032, this is attributed to the
fact that Asia-Pacific region has
experienced significant growth in air travel demand over the past
decade. Emerging economies, rising middle-class populations, and
increasing disposable incomes have led to a surge in air passenger
traffic. This growth necessitates the expansion of airline fleets,
resulting in a higher demand for aircraft and associated safety
equipment like exit path lighting systems.
To Talk With Our Industry Expert
@ https://www.alliedmarketresearch.com/connect-to-analyst/A323161
Leading Market Players:
• Astronics Corporation
• Collins Aerospace
• Luminator Technology Group
• LEDtronics
• STG Aerospace
• Bruce Aerospace
• Diehl Stiftung & Co.
• Cobalt Aerospace Group Limited
• Lufthansa Technik
• SKYbrary Aviation Safety
The report provides a detailed analysis of these key players of
the global aircraft passenger exit path lighting market. These
players have adopted different strategies such as expansion and
product launch to increase their market share and maintain dominant
shares in different regions. The report is valuable in highlighting
business performance, operating segments, product portfolio, and
strategic moves of market players to showcase the competitive
scenario.
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