Aircraft Cabin Lighting Market By Fit (Line-Fit & Retrofit), Aircraft Type (NBA, WBA, VLA & RTA), Light Type (Signage Lights, Lavatory Lights, Reading Lights, Ceiling & Wall Lights, & Floor Path Lighting Strips), And Region - Global Forecast To 2021
NEW YORK, Nov. 2, 2016 /PRNewswire/ -- "Increase in aircraft deliveries is the key factor driving the aircraft cabin lighting market"The aircraft cabin lighting market is estimated to be USD 1.89 billion in 2016, and is projected to reach USD 2.43 billion by 2021, at a CAGR of 5.08% from 2016 to 2021. The advancement in lighting technologies has also impacted the market by providing cabin lights which are more lightweight and efficient as compared to earlier cabin lighting systems. Increasing aircraft deliveries, increase in domestic civil aviation, and technological advancements are some of the factors driving the aircraft cabin lighting market. However, factors, such as longer span of new LED lights and global economic uncertainty are expected to restrain the growth of this market. "The retrofit segment is projected to grow at a higher CAGR in the aircraft cabin lighting market"The retrofit segment of the aircraft cabin lighting market, by fit type, is anticipated to grow at a higher CAGR during the forecast period. Increase in aircraft orders as well as deliveries, economic growth across regions, increase in low cost carriers and domestic civil aviation, efficient alternatives to existing installed lights, and increase in passenger traffic are the factors driving the growth of this segment. The need for advanced technologies, such as light emitting diode as well as organic light emitting diode by the airliners worldwide is fueling the growth of aircraft cabin lights.