The airport lighting market is projected to grow from USD 454.5 Million in 2015 to USD 672.2 Million by 2021, at a CAGR of 7.2% during the forecast period. Factors such as the expansion of airport infrastructure and rising focus on controlling maintenance costs are expected to contribute to the growth of this market. In this market research report, 2015 is considered to be the base year, and 2016 to 2021 is considered as the forecast period.
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The airport lighting market is projected to grow from USD 473.7 Million in 2016 to USD 672.2 Million by 2021, at a CAGR of 7.2% from 2016 to 2021. Airport lights are used to indicate directions to the aircraft, during landing, takeoff, and parking. These lights are installed in runways, taxiways, and aprons. The runway lights are generally white, taxiway lights are blue in color, and apron lights can be of any color. The apron lights can be replaced by reflective markers in smaller airports.
On the basis of type, the airport lighting market has been subsegmented into runway lighting systems, taxiway lighting systems, and apron lighting systems. The runway lighting systems subsegment in the market is projected to grow at the highest CAGR during the forecast period.
On the basis of position, the airport lighting market has been subsegmented into in-pavement/inset lights, elevated lights, and precision approach path indicator. The elevated lights subsegment dominates the market in terms of market size, and is expected to continue its dominance over the next five years. However, the in-pavement/inset lights segment in the market is projected to grow at the highest CAGR during the forecast period.
On the basis of technology, the airport lighting market has been subsegmented into non-LED and LED. The LED subsegment in the market is projected to grow at the highest CAGR from 2016 to 2021.
In the global airport lighting market, the Asia-Pacific (APAC) region is expected to exhibit the highest growth rate during the forecast period. The region acts as a manufacturing and outsourcing destination for the developed economies and attracts a lot of foreign investment. It constantly witnesses up gradation/renovation of airport infrastructure to support increase in air passenger traffic. This poses as a huge market opportunity for airport lighting manufacturers.
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