The airport lighting market is expected to grow from USD 473.7 million in 2016 to USD 672.2 million by 2021, at a CAGR of 7.2% during the forecast period.
The airport lighting market is predominantly driven by the increasing number of airports globally. Increase in demand for low-cost lights in the emerging countries is considered as one of the most significant factors driving the growth of the airport lighting market. In addition to this, the increasing usage of LED lights and mood lighting are further propelling the growth of this market.
The runway lighting systems segment in airport lighting market is anticipated to grow at the highest CAGR during the forecast period. Runway edge lights are installed along both sides of the runway, in two parallel straight rows equidistant from the center line of the runway, commencing one light spacing from the threshold and continuing to one light spacing from the runway end. There are three types of runway lighting systems, namely, low intensity, medium intensity, and high intensity. The apron lighting systems is the second fastest-growing type segment in the airport lighting market.
North America dominates the global airport lighting market. The North American airport lighting market is mainly driven by the large number of original component manufacturers (OCMs), original equipment manufacturers (OEMs), and third-party services.