Market Trends of Asia-Pacific Aircraft Lighting Industry
Commercial Aircraft Segment to have the Largest Market Share During the Forecast Period
Asia-Pacific will become the major aviation industry globally in the coming decade. In 2022, the air passenger traffic in the region surged rapidly compared to other regions. On this note, as per the annual data released by the IATA, in 2023, revenue passenger kilometers (RPKs) of airlines operating in Asia-Pacific grew by 60.7% YoY. Airline companies in the region are implementing fleet expansion plans to cater to the growing air passenger traffic in the major countries. China, India, Japan, and Indonesia accounted for 70% of the total air passenger traffic in the region, generating demand for new aircraft compared to other Asia-Pacific countries.
Due to the growth in passenger traffic, major airlines in the countries are expanding their fleet of aircraft. Several low-cost carriers operating in the region are focused on enhancing the customer experience onboard long-haul flights. In 2022, some airlines, such as All Nippon Airways, started introducing mood-based lighting in their aircraft. Lighting is increasingly becoming an important part of the overall passenger experience, and the suppliers have taken steps to ensure that it can be consistent throughout the cabin and for everyone. New lighting products are launched regularly, each designed to improve performance and aesthetics. Due to such initiatives, it is expected to surge the demand for line-fit and retrofit market of aircraft lighting, is anticipated to bolster the growth of the segment in the forecast period.
China to Witness Highest Growth During the Forecast Period
China is becoming a central aviation hub and is expected to become the top aviation industry by 2030. Domestic air passenger traffic in China peaked at 590.52 million in 2023. The rising number of deliveries of new commercial passenger aircraft has positively driven the growth of the lighting market. Of the commercial aircraft deliveries, about 85% were narrowbody, followed by 15% widebody aircraft. To cater to the growing passenger traffic in the region, the airlines in China are expanding their destination network and increasing their fleet, propelling aircraft demand. Similarly, the growth in high-net-worth individuals has increased charter business travel in the country, generating demand for helicopters and business jets. Airlines and charter providers are investing in modern cabin interiors with better lighting systems to enhance further the passenger experience onboard aircraft (commercial aircraft and business jets). Similar cabin modernization plans of airlines and charter providers are anticipated to propel the growth of the aircraft lighting market in the country.
