The global market for airfield ground lighting grew at a promising CAGR of little over 6% until 2020.
A study by consulting firm Fact.MR projects the market to grow threefold at an impressive pace of 11% CAGR through 2031.
Investments in the expansion of airport infrastructure, rising military expenditure, and rising airport construction projects are primary factors driving the demand of airfield ground lighting.
According to the study, key players are using advanced technologies such as Artificial Intelligence-based airfield ground lighting to improve their future prospects.
They also are incorporating the Internet of Thinking (IoT) enabled features in airfield lights that can be grounded on runaways.
These technological advancements are propelling the market growth at a robust pace.
Demand for LED airfield ground lighting will continue to rise especially with the integration of IoT and solar power.
Manufacturers are preferring LED airfield ground lighting over Halogen airfield ground lighting for airports, and heliports.
Advantages such as reduced cost, low maintenance, and low failure rate have been aiding overall expansion of the market.
“Key market players are investing in product launches and are incorporating IoT and AI to offer greater technology and increase penetration across lucrative markets” says a Fact.MR analyst.
Competitive Landscape
Key companies profiled by Fact.MR for global airfield ground lighting market include ADB SAFEGATE, TKH Airport Solutions, ATG Airports Limited, Flash Technology LLC., Honeywell International Inc., Midstream Ltd., OCEM Airfield Technology, Amglo-Kemlite Laboratories Inc., Vosla GmbH, Youyang Airport Lighting Equipment Inc., AMA Private Limited, Airsafe Airport Equipment Co. Ltd., and TRANSCON ES among others.
Strategic meergers, acquisitions, and partnerships with prominent airports, heliports and military airports are some of the key focus areas among the leading market players.
For instance, in February 2020, Phoenix Lighting announced partnership with Airport Lighting Company (ALC), a leading supplier of airfield lighting.
Through this partnership, ALC will add Phoenix Highland and Meridian High mast LED fixtures and the Lighting Intelligence Technology wireless controls platform to their product offering.
For more Insights into the Market, Request a Sample of this Report
