Global Aircraft Lighting Market to Reach $3 Billion by 2026

Amid the COVID-19 crisis, the global market for Aircraft Lighting estimated at US$2.4 Billion in the year 2020, is projected to reach a revised size of US$3 Billion by 2026, growing at a CAGR of 3.9% over the analysis period, according to a new report.

Commercial, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Military segment is readjusted to a revised 3.4% CAGR for the next 7-year period.

The Aircraft Lighting market in the U.S. is estimated at US$670.5 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$632.6 Million by the year 2026 trailing a CAGR of 7.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 3% respectively over the anaysis period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.

In the global Business segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$468.6 Million in the year 2020 will reach a projected size of US$580.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$108.1 Million by the year 2026, while Latin America will expand at a 4.6% CAGR through the analysis period.