Global commercial aircraft interior lighting market: 5.6% CAGR growth forecast between 2012-48
Global Commercial Aircraft Interior Lighting Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-31 00:03:03
The Global Commercial Aircraft Interior Lighting market is to grow at a CAGR of 5.62 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for aircraft in the APAC region. The Global Commercial Aircraft Interior Lighting market has also been witnessing the rise in demand for low-cost carriers. However, the increase in raw material prices could pose a challenge to the growth of this market.
In recent years, the demand for no-frills airlines has been increasing, especially in the APAC region. The cost-effective business model of no-frills airlines has increased the demand for new aircraft in the market. Generally, the no-frills airlines fly only on short-haul routes and provide only seats to the passengers. Additional services, if offered, are either paid for or are not provided on board. These airlines generally tap passengers who either use roadways or railways as their main mode of transportation. The travel cost for no-frills airlines is almost the same as compared to other modes of transportation, while saving time and effort for the traveler. This trend is expected to have a positive impact on the growth of the market in future years.
One of the major drivers in this market is the increasing demand for aircrafts in the APAC region. With the advent of the no-frills business model, the demand for new aircrafts has increased in the APAC region.
One of the major challenges in this market is the increase in raw material prices. The rise in raw material prices has resulted in pricing pressure on aircraft lighting manufacturers, and hence, they are forced to pass on the increased cost to customers.
The key vendors dominating this market space are Astronics Corp., UTC Aerospace Systems, Zodiac Aerospace SA, and B/E Aerospace Inc. Other vendors are Avtech Tyee Inc., Electro-Mech Components, Inc., Emteq, Inc., Diehl Aerosystems Holding GmbH, Luminator Holding, LLC, and STG Aerospace Ltd.
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