Navigation Lighting Market Anticipated to Register $51,277.1 Thousand and Grow at 4.2% CAGR

According to a new report, the global navigation lighting market is estimated to register a revenue of $51,277.1 thousand by 2030, growing at 4.2% CAGR during the forecast period 2021-2030.

Rising demand for air travel among people to reach the destination faster and safely along with significant infrastructure expansion in several airports are some factors anticipated to drive the growth of the global navigation lighting market during the forecast period.

The outbreak of the covid-19 pandemic has had a negative impact on the global navigation lighting market just like most industries due to shutdown of several airports and seaports. Strict lockdowns and travel restrictions imposed by governments worldwide led to disruptions in supply chains and availability of raw materials. Moreover, closed international borders caused interruptions in the import-export chains and the aviation industry also witnessed a drop in the number of air travelers due to fast-spreading corona virus across the globe.