Navigating Growth : Navigation Lighting Market to Secure $51.27 Million Globally by 2030, Growing at 4.2% CAGR

Navigation Lighting Market Size

OREGAON, PORTLAND, UNITED STATES , July 17, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Navigation Lighting Market,” The navigation lighting market was valued at $34,826.40 thousand in 2021, and is estimated to reach $51,277.10 thousand by 2030, growing at a CAGR of 4.2% from 2022 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/3314

Navigation lights, also known as position or running lights, are used to guide a ship’s parking or an aircraft’s landing. On boats and airplanes, navigation lights are an essential safety component. All vessels travelling between sunset and sunrise, as well as in low-visibility circumstances such as rain or fog, benefit from these lights. As needed by law and regulations, navigation lights on any water vessel or aircraft have a defined arc of lighting, range of visibility, and location. To provide color or white lighting, navigation lights can use a range of technologies incandescent or filament lighting, high intensity discharge, flashing, including light emitting diodes (LEDs), and halogen lighting.

However, the cost of installing and producing navigation lights will limit the expansion of the navigation lighting market industry. Navigation lighting, too, demands regular maintenance and special attention. Because all of the navigation lights on ships and aircraft are located outside, they are susceptible to the effects of seawater, precipitation, and atmospheric moisture.

Air passenger traffic has increased recently. As a result, airlines are increasing their fleet capacity. For instance, Tata Group ordered around 200 airplanes to scale -up the fleet. Moreover, due to increasing air passenger traffic, low-cost airlines are increasing their fleet and international routes. Besides, increasing spending on military aircraft and fighter jets is projected to fuel the navigation light market opportunities in the coming years.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/navigation-lighting-market/purchase-options

𝐓𝐡𝐞 𝐚𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟎

By end user, the aerospace segment is estimated to portray the highest CAGR of 4.7% during the forecast period. However, the marine segment held the largest share in 2021, accounting for more than half of the global navigation lighting market, as global economy imports and exports about 80% of its goods via waterways.

𝐓𝐡𝐞 𝐡𝐢𝐠𝐡 𝐥𝐢𝐠𝐡𝐭 𝐢𝐧𝐭𝐞𝐧𝐬𝐢𝐭𝐲 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

By type, the high light intensity segment held the largest share in 2021, contributing to more than two-fifths of the global navigation lighting market. However, the medium light intensity segment is projected to manifest the highest CAGR of 4.5% during the forecast period. In order to support the visual component of an instrument approach, medium light intensity light is composed of a number of flashers and steadily burning light bars that provide visual information about the position, height perception, and references. Thus the demand for medium light intensity navigation lighting has increased.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧’𝐬 𝐬𝐡𝐚𝐫𝐞

By region, the global navigation lighting market across Asia-Pacific held the largest share in 2021, accounting for more than half of the market. In addition, the region is expected to register the highest CAGR of 4.8% during the forecast period, owing to ongoing urbanization, shift in demographic trends, and expanding middle classes. Moreover, rapid infrastructure development and government efforts to expand airports and seaports are expected to fuel the growth of the segment. The report includes analysis of the market across North America, LAMEA, and Europe.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/3314

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

Glamox AS
Aveo Engineering Group
Perko Inc.
Hella Marine
Canepa & Campi
Lutron Electronics Co., Inc
FAMOR S.A.
Den Haan Rotterdam
TRANBERG

The report analyzes these key players of the global navigation lighting market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

https://www.alliedmarketresearch.com/commercial-airport-lighting-market – Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-cabin-lighting-market – Global Opportunity Analysis and Industry Forecast, 2019-2026

https://www.alliedmarketresearch.com/ultralight-aircraft-market – Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/aircraft-lighting-market-A06273 – Global Opportunity Analysis and Industry Forecast, 2020-2027

David Correa
Allied Market Research
+1 800-792-5285
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