Friday, December 28, 2012
Report: Cabin Lighting Market to Hit $1.25 Billion by 2017
A research report released this month predicts the global commercial aviation aircraft cabin lighting market will hit $1.25 billion by 2017, boosting by robust demand in the emerging markets.
In its report "Global Commercial Aviation Aircraft Cabin Lighting Market, Forecast & Analysis (2012 - 2017)," research firm MarketsandMarkets, based in Dallas, said airlines, which are dealing with increasingly higher fuel prices, are looking toward lighter weight cabin interiors to increase fuel efficiency. Coupled with the increase in orders for existing models and new models expected to enter the market the aircraft cabin lighting industry is expected to grow at 5.43 percent during the period of 2012 to 2017. It is expected that the aircraft lighting market in China will witness the highest growth rate. The global commercial aviation aircraft cabin lighting market revenue is expected to grow from $960.8 million in 2012 to $1.25 billion by 2017.
Among the key findings:
-- The narrowbody aircraft market has the highest business potential throughout the study period.
-- Reading lights will be the maximum revenue generator among the different types of aircraft cabin lights.
-- Diehl Aerosystems is the leader in the aircraft lighting market with more than 36 percent of the market share.