Global Commercial Airport Lighting Market to Illuminate Aviation Industry with a CAGR of 5.7% by 2030
According to a new report published by MarkWide Research, titled, “Global Commercial Airport Lighting Market,” the global market for commercial airport lighting is expected to experience significant growth. Lighting systems at airports are essential for ensuring safe and efficient operations.
The report reveals that the global commercial airport lighting market is projected to witness a robust CAGR of 5.7% over the forecast period from 2023 to 2030. This growth is driven by the increasing number of airports, upgrades to existing lighting systems, and the demand for energy-efficient solutions.
Key Findings from the Report:
- Aviation Safety: Commercial airport lighting enhances runway visibility and ensures the safety of aircraft during takeoff, landing, and taxiing.
- Technological Advancements: Ongoing research focuses on LED lighting, smart lighting controls, and energy-efficient solutions.
- Global Air Travel: The market aligns with the growth in global air passenger traffic and the need for modern airport infrastructure.
- Environmental Sustainability: Energy-efficient lighting solutions contribute to reducing airports’ carbon footprint.
- Airport Expansion: The construction of new airports and expansion projects drive the demand for lighting systems.
Market Forecast:
The report indicates that the global commercial airport lighting market is currently valued at $2.4 billion in 2023 and is projected to reach $3.7 billion by 2030, with a CAGR of 5.7% during the forecast period. Asia-Pacific and North America are expected to be key regions for market growth, driven by airport infrastructure development.
Company Profiles:
Key players in the global commercial airport lighting market include ADB SAFEGATE, Eaton Corporation, and Honeywell International Inc. These companies specialize in the design and installation of commercial airport lighting systems.
Conclusion:
The global commercial airport lighting market is poised for substantial growth, driven by the need for advanced lighting solutions in airport infrastructure. With a projected CAGR of 5.7% by 2030, this market offers opportunities for lighting technology providers to support the aviation industry.