The global navigation lighting market revenue was around US$ 36,289.1 thousand in 2022 and is estimated to reach US$ 52,551.5 thousand by 2031, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2023 to 2031.
Navigation lights are white or colored illuminating devices that are utilized in spacecraft, watercraft, and aircraft. They provide visual signaling as well as offer awareness regarding craft & vessel position, direction, and condition, which is particularly important during nighttime vehicle operation. Navigation lights assist the harbormaster, ground personnel, yard crew, and bridge engineer in locating the position and movement of the craft.
Market Driving Factors
Strict safety regulations are estimated to drive the market growth. This is majorly due to the governments and multinational bodies having imposed stringent regulations to improve transportation safety, mandating the usage of navigation lighting on all appropriate transport modes.
Surging maritime trade is expected to propel the market growth. The growth of international trade via maritime routes has amplified the demand for commercial vessels, supporting the adoption of navigation lighting to ensure secure navigation and control collisions.
Renewal and modernization projects are predicted to create opportunities in the market. As the international fleet of vessels and aircraft ages, navigation lighting manufacturers can participate in modernization and renewal projects.
Advancements in lighting technology are estimated to propel the market expansion. This is due to the development of energy-efficient and long-lasting LED lighting solutions that have facilitated end-users to opt for modern navigation lighting systems, lowering energy consumption and maintenance prices.
The price of installing and creating navigation lights will hamper the market growth.
Regional Analysis
Asia-Pacific dominated the market in terms of revenue growth and is estimated to maintain its dominance. This can be majorly attributed to the numerous elements such as the rapidly increased middle class and their raised demand for tourism & air travel industries in the region.
North America is estimated to dominate the market in terms of the growth rate. This is mainly due to the well-established maritime and aviation sectors. Furthermore, the existence of primary aircraft manufacturers and an extensive number of commercial vessels contribute to the high demand for navigation lighting products in this region.
Europe also dominates the market in terms of the significant share. This is majorly owing to the strong existence of shipbuilding industries and the strict safety laws implemented by the European Union have driven the demand for navigation lighting systems in this region.
Segmentation Insights
End-User Insight
The marine segment dominated the market in terms of the largest share and is estimated to maintain its dominance. The demand for import-export has also increased due to the population has grown globally. When compared to aviation, watercraft transportation of goods & services is slightly expensive. This element has accelerated the growth of the navigation lighting market as navigation lights are broadly utilized by water vessels for avoiding any casualty and to provide details such as position, direction, and vessel size.
Type Insight
The medium light intensity segment is estimated to dominate the market in terms of the fastest growth. This is primarily due to the increasing demand for cutting-edge feature navigation lighting in the marine and aerospace industries. Furthermore, medium light intensity lights are high in demand because these lights are made of Light Emitting Diode (LED), need small maintenance, and have a life expectancy of about 50,000 hours. Thus, these elements are estimated to boost the market growth.
Prominent Companies
Segmentation Outline
The global navigation lighting market segmentation focuses on the End-User, Type, and Region.
By End-User
By Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL NAVIGATION LIGHTING MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: NAVIGATION LIGHTING MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL NAVIGATION LIGHTING MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL NAVIGATION LIGHTING MARKET, BY END-USER
5.1 OVERVIEW
5.2 MARINE
5.3 AEROSPACE
6 GLOBAL NAVIGATION LIGHTING MARKET, BY TYPE
6.1 OVERVIEW
6.2 LOW LIGHT INTENSITY
6.3 MEDIUM-LIGHT INTENSITY
6.4 HIGH LIGHT INTENSITY
7 GLOBAL NAVIGATION LIGHTING MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL NAVIGATION LIGHTING MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 DEN HAAN ROTTERDAM
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 LUTRON ELECTRONICS CO. INC
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 GLAMOX AS
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 FAMOR S.A.
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 TRANBERG
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 VEGA GLOBAL
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 AVEO ENGINEERING GROUP S.R.O.
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 PERKO INC.
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 HELLA MARINE
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 CANEPA & CAMPI
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
著作権 ©2022 無断複写・転載を禁じます