Market Trends of Commercial Aircraft Interior Lighting Industry
This section covers the major market trends shaping the Commercial Aircraft Interior Lighting Market according to our research experts:
Narrow-body Aircraft Segment is Expected to Show the Highest Growth During the Forecasts Period
Narrow-body aircraft are estimated to show remarkable growth during the forecast period. The growth is due to increasing narrow-body aircraft deliveries and investment in aircraft modernization programs. In 2021, Boeing delivered 263 narrow-body aircraft (43 aircraft delivered in 2020), while Airbus delivered 533 narrow-body aircraft (484 aircraft delivered in 2020). Furthermore, Air India is planning to buy 300 narrow-body aircraft, one of the largest orders in India's commercial aviation. Thus, growing orders for narrow-body aircraft and increasing expenditure from airlines on aircraft interior lighting systems drive the market growth. In addition, airlines are adopting advanced technologies to enhance passengers' experience during flights.
For instance, in November 2021, Singapore Airlines (SIA) launched new cabin products that were rolled out on its Boeing 737-8 fleet. The products include business class seats, Wi-Fi service, and others. The business class seat has USB charging ports, an in-seat power supply, a reading light with adjustable brightness, and mood lighting. Such developments are likely to fuel the demand for commercial aircraft lighting over the forecast period.
North America Will Dominate the Market During the Forecast Period
North America is projected to show significant growth during the forecast period. The growth is due to the presence of well flourish aviation industry, increasing aircraft deliveries, and growing spending on the aviation sector. Developing air traffic and the modernization of aging aircraft is likely to boost market growth in the coming years. Boeing, an aircraft manufacturer, forecasts that there is expected to be demand for about 41,170 new passenger and freighter aircraft deliveries over the next 20 years. Of the total projected deliveries, 23% of the new aircraft deliveries are likely to go to the North American region. In comparison, 63% will go to Europe, Asia-Pacific, and China, with a share of 21% respectively.
For instance, in June 2022, Delta Air Lines plans to buy 12 new A220-300 aircraft from Airbus. Also, Delta announced that it would buy 100 Boeing 737 MAX 10 jets worth about USD 13.5 billion and has options to buy another 30. In addition, in June 2021, United Airlines, an American airline, ordered 270 commercial aircraft, out of which 200 were Boeing Max jets and 70 Airbus 321neos. The airline is planning to make seatback screens central to its new aircraft interiors and add higher numbers of roomier seats in coach. Thus, growing investments from airlines and increasing aircraft deliveries will create demand for advanced aircraft lighting systems that drive market growth across North America.
