MILITARY LIGHTING MARKET TO REACH USD 698.8 MILLION BY 2024 | CAGR 5.8% – FORENCIS RESEARCH

Military Lighting Market Size, Share, Trends, Growth, Analysis, Research

Global Military Lighting Market: Key Highlights

  • According to the new market research report Military Lighting Market by Type (IR lights, UV flashlights, Solar lights, and High-Intensity Discharge (HID) lighting systems), By Application (Ground, Airborne and Naval), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2024”, the global Military Lighting Market is estimated to reach USD 698.8 million by 2024 at a CAGR of around 5.8% during the review period.
  • Higher demand for the energy efficient lighting system helps to reduce the military energy footprint and decrease greenhouse gas emission.
  • However, higher investment required for the installation of the military lights remain a major restraining factor for the growth of the military lighting market.

Military Lighting Market

Global Military Lighting Market: Key Market Dynamics

  • Rise in fleet modernization helps to reduce hazards which includes increase the brighter headlights and modified the passenger restraints systems which witness to boost the market demand in the forecast period.
  • Increasing demand for military aircrafts from the emerging and developed economies lead to grow the adaption of new feature with new advancement.
  • The rising focus towards adoption of the intelligent and advanced technology for the military lights which will surge the growth of the military light market in the projected period.
  • Heavy installation cost in the advancement features may lead to hamper the market growth.

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Global Military Lighting Market: Regional Overview

  • Asia-Pacific:

The US military are growing a high presence in the Asia-Pacific region with bases in Japan, South Korea and Singapore. Also China government is advancing its military stronger, with the adoption of advance technologies. Whereas, the Government of India has also taken an initiative by Make in India project which will lead to reduce import dependence and also military imports and procurement.

  • Europe

Owing to the rapid growth of the aerospace & defense industry in Europe, the demand for military lighting is expected to increase. According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D.

Global Military Lighting Market: Key Players Overview

  • Honeywell International Inc.:

Honeywell International Inc. is a US-based company engaged in the invention and commercialization of technologies for overcoming the challenges across energy, safety, security, productivity, and global urbanization.

Furthermore, In January 2018, the company came into agreement with a metal additive manufacturing company, Sintavia, to manufacture aerospace components. These components include gas turbine auxiliary power units (APUs), turboshaft engines, turbofan engines, and engine control valves, among others.

  • Collins Aerospace:

Collins Aerospace is a global leader supplier for aerospace and defense products such as interior cabin products, logistics services and fastener distribution. The company provides exterior as well as interior lighting products for the use of commercial aircraft, business jets and military aircraft. Moreover, the company provides a features for cabin reading light with the long durability and uniform illumination. In 2019, the company was the first company to apply micro LED technology for the cabin.

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Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Rep Id : AnD 021

Published : 2020-01-06