The military lighting market is projected to grow from an estimated USD 484.5 million in 2018 to USD 615.2 million by 2023, at a CAGR of 4.89% from 2018 to 2023
LONDON, August 21, 2018 /PRNewswire/ -- The military lighting market is projected to grow at a CAGR of 4.89% from 2018 to 2023
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The military lighting market is projected to grow from an estimated USD 484.5 million in 2018 to USD 615.2 million by 2023, at a CAGR of 4.89% from 2018 to 2023. Rising focus on energy conservation, rise in the defense budgets of a large number of countries, significance of military lighting in warfare, and advancements in LED lighting technologies are the key factors driving the growth of the military lighting market. The high initial cost of installing LED lights and the existing backlogs of companies supplying military aircraft and ships are expected to impact the market negatively.
Based on platform, the ground segment is estimated to account for the largest share of the military lighting market in 2018
Based on platform, the ground segment is estimated to account for the largest share of the military lighting market in 2018. This growth is attributed to the increasing retrofitting of LED lights in military airports, modernization of soldier systems, rising demand for armored vehicles across different countries.
The North America region is estimated to account for the largest share of the military lighting market in 2018
The North America region is estimated to account for the largest share of the military lighting market in 2018.This region is led by a large number of players operating in the military lighting industry.
Also, various initiatives have been undertaken by the government to improve energy efficiency and reduce electricity costs in different military platforms. The US leads the research & development of different technologies used in military systems, and thus the market in North America is expected to lead during the forecast period.
The breakup of the profiles of the primary participants in this report on the military lighting market has been given below:
-- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
-- By Designation: C Level - 35%, Director Level - 25%, and Others - 40%
-- By Region: North America - 30%, Europe - 20%, Asia Pacific - 30%, Middle East- 10%, and RoW - 10%
The key players profiled in this report on the military lighting market are Oxley Developments Company Ltd (UK), Astronics (US), STG Aerospace (UK), Orion Energy Systems, Inc. (US), Carmanah Technologies Corporation (Canada), Glamox International (Norway), OSRAM GmbH (Germany), Revolution Lighting Technologies, Inc. (US), Acuity Brands, Inc. (US), ATG Airports limited (UK), Avlite Systems (Australia), and ADB Safegate (Belgium), among others.
Research Coverage:
The market study segments the military lighting market based on platform (ground, airborne, marine), application type (ground by application type, marine by application type, airborne by application type), technology (LED, non-LED), solution (hardware, software, services), and maps these segments and subsegments across 5 major regions, namely, North America, Europe, Asia Pacific, Middle East, and Rest of the World (RoW). The report provides in-depth market intelligence regarding the market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the military lighting market, along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the military lighting market.
Reasons to Buy This Report:
From an insight perspective, this research report focuses on various levels of analyses, which include industry analysis (industry trends), market share analysis of the top players and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the military lighting market, high growth regions, and drivers, opportunities, and challenges for the military lighting market.
The report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on different types of military lighting offered by the top players operating in the military lighting market.
-- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the military lighting market.
-- Market Development: Comprehensive information about emerging markets as the report analyzes the markets for military lighting across varied regions.
-- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military lighting market.
-- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of the leading players operating in the military lighting market.
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