Airport Lighting Market to experience an impressive growth of 7.6% during 2016-2021
February 04, 2020
The Airport Lighting System Market offers good growth opportunity and is likely to grow at 7.6% CAGR during the forecast period of 2016 to 2021. Increasing government investment on airport infrastructure driven by increasing passenger traffic and rising disposable income, and high focus on energy efficient lighting systems and lower operational and maintenance costs are some of the key growth drivers of the global airport lighting market. Commercial airport is expected to remain a growth engine of the airport lighting market during the forecast period.
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Airport Lighting Market Segment Insights:
By Technology Type:
LED lights are expected to witness the highest growth during the forecast period, driven by increasing focus on energy efficiency and reduction in overall operation and maintenance cost of the airport.
By Region:
North America is expected to remain the largest lighting market for airport applications during the forecast period due to the presence of large number of commercial and military airports and high focus towards energy efficiency and low operational cost. Asia Pacific is expected to grow at the highest rate in the next five years. The developing countries, mainly China and India are likely to drive the demand of airport lighting systems in the Asia-Pacific region in the next five years, driven by on-going and upcoming airport infrastructure projects.
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