The airport smart lighting global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Airport Smart Lighting Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The airport smart lighting market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to Energy efficiency regulations, enhanced passenger experience, cost savings, safety and security, data-driven insights, and compliance requirements.
The airport smart lighting market size is expected to see strong growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rising demand for energy efficiency, focus on passenger experience, safety and security requirements, cost savings and operational efficiency, regulatory compliance, data-driven decision-making, and smart airport initiatives. Major trends in the forecast period include the adoption of LED technology, integration of IoT and sensors, focus on sustainability, enhanced passenger experience, smart airport ecosystem integration, remote monitoring and management, and data-driven insights and analytics.
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Scope Of Airport Smart Lighting Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Airport Smart Lighting Market Overview
Market Drivers –
Growing air travel demand is expected to propel the growth of the airport smart lighting market going forward. Air travel refers to the transportation of passengers and goods by aircraft, typically between different locations, regions, or countries. Air travel demand is rising due to the increasing affordability and accessibility of flights, driven by advancements in technology, competition among airlines, and the expansion of low-cost carriers. Airport smart lighting enhances air travel by improving visibility, safety, and energy efficiency through dynamic adjustments based on passenger flow, weather conditions, and time of day, ultimately enhancing the overall airport experience and operational efficiency. For instance, in November 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU), the EU witnessed a significant surge in air travel, with the total number of passengers reaching 820 million in 2022, marking a substantial increase of 119.3% compared to the previous year. Therefore, growing air travel demand is driving the growth of the airport smart lighting market.
Market Trends –
Major companies operating in the airport smart lighting market are increasing their focus on developing advanced solutions, such as sensor-based lighting, to gain a competitive edge in the market. Sensor-based lighting refers to lighting systems that incorporate sensors to detect changes in environmental conditions or occupancy, adjust lighting levels accordingly, and improve the overall passenger experience within airport facilities. For instance, in May 2022, ADB Safegate BVBA, a Belgium-based airport lighting company, launched AXON EQ LED. These lights are equipped with built-in sensors that capture data essential to airport operators, enabling them to pinpoint maintenance needs and optimize operations. The AXON EQ LED lights are part of ADB SAFEGATE’s Airfield 4.0 technology, which aims to enhance airport operations by providing advanced routing and guidance capabilities. This technology contributes to increased safety and reduced power consumption at airports.
The airport smart lighting market covered in this report is segmented –
1) By Type: Runway Lightings, Taxiway Lightings, Visual Glide Scope Indicator, Other Types
2) By Offering: Hardware, Services, Software
3) By Light Source: Fluorescent Lighting, Halogen Lighting, Incandescent Lighting, Light Emitting Diode (LED) Lighting
4) By Application: Airside, Airport Terminal, Airport Landside, Other Applications
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Regional Insights –
North America was the largest region in the airport smart lighting market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport smart lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the airport smart lighting market are Siemens AG, Honeywell International Inc., Safran S.A., Koninklijke Philips N.V., Signify Holding, Acuity Brands Inc., TKH Airport Solutions, Midstream Ltd, Astronics Corporation, Schreder Group, OCEM Airfield Technology, ADB Safegate, Carmanah Technologies Corp, GMR ENLIGHTS s.r.l, Sealite Pty Ltd, Eaton Corporation, atg airports limited, Delta Obstruction Lighting, Avlite Systems, Cree Inc., Airsafe Airport Equipment Co. Ltd.
Table of Contents
1. Executive Summary
2. Airport Smart Lighting Market Report Structure
3. Airport Smart Lighting Market Trends And Strategies
4. Airport Smart Lighting Market – Macro Economic Scenario
5. Global Airport Smart Lighting Market Size and Growth
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32. Global Airport Smart Lighting Market Competitive Benchmarking
33. Global Airport Smart Lighting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Airport Smart Lighting Market
35. Airport Smart Lighting Market Future Outlook and Potential Analysis
36. Appendix
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