The market is expected to reach USD 725.5 million by 2022, at a CAGR of 7.2% from 2017-2022 (the forecast period).
The development of new airports, rising demand for commercial aircrafts, and the need for energy-efficient lighting are the major factors driving the global commercial airport lighting market. However, factors, such as lack of management and disagreement among airport authorities and inadequate funds are challenging the growth of the market.
The commercial airport lighting market has growth opportunities for both existing players and new players interested in participating in the market. The increasing air traffic and rising demand for commercial aircraft in countries, such as China, India, Russia, and Africa are leading to investments from new competitors in the commercial airport lighting market.
ENERGY EFFICIENT LIGHTING
Airports have energy concentrated operations that can considerably lower costs by investing in energy-efficient technologies. The biggest opportunities are in improved lighting, mechanical, and HVAC systems. In addition, there are ways for airports to ensure a steady and reliable supply of power without wasting additional energy. One way is by lighting technologies and controls and other by baggage conveyors and other motorized systems.
Lighting is the main opportunity for saving energy in airports. Long operating hours mean that lights may be on nearly all the time, providing an excellent ROI in efficient lighting. Baggage systems consist of hundreds of motors and belts. Together the motors constitute a large electric load and upgrades can create significant energy savings. Using efficient motors on escalators can also reduce maintenance and lead to energy savings.
Hartsfield-Jackson Atlanta International Airport was awarded a USD 6 billion improvement program, spanning 20 years. The project is aimed at expanding the airport’s capability in terms of a new 400 room hotel, new runway, and a concourse. The expansion work began in June 2016, and plans are afoot to flood the terminals with natural lights instead of artificial lighting systems.
Geographically, Asia-Pacific is expected to have the highest growth, owing to growing investments in airport infrastructure. Commercial air traffic has seen a significant rise in numbers in the last ten years. Countries like India, Indonesia, and China have witnessed double-digit passenger growth in the last two years. The economic development in the region and a rise in disposable incomes has increased the preference for air travel.
Honeywell Aerospace and Hella are some key players in the global airport lighting market.