Product ID: SQMIG20A2213
Report ID:
SQMIG20A2213 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
Airport Runway Lighting Market size was valued at USD 4.50 Billion in 2021 and is poised to grow from USD 4.73 Billion in 2022 to USD 7.10 Billion by 2030, at a CAGR of 5.2% during the forecast period (2023-2030).
The Global Airport Runway Lighting Market is currently experiencing robust growth, driven by the rising demand for air travel and the expansion of airport infrastructure worldwide. As of now, the market is witnessing a steady increase in the installation and modernization of airport runway lighting systems to ensure safe and efficient operations during low visibility conditions and night-time operations. The key players in the market are actively focusing on research and development activities to introduce innovative and energy-efficient lighting solutions, further propelling the market growth. Presently, LED runway lighting systems are gaining significant traction due to their long lifespan, low maintenance requirements, and reduced energy consumption, which not only contribute to cost savings but also align with the global push for sustainable aviation practices. Additionally, the advent of smart airport concepts is driving the integration of advanced runway lighting technologies with air traffic management systems to enhance overall operational efficiency and air traffic control. Geographically, the market is witnessing substantial expansion in the Asia-Pacific region, where rapid urbanization, economic growth, and increasing passenger traffic are leading to significant investments in airport infrastructure upgrades. Overall, the Global Airport Runway Lighting Market is poised to maintain its upward trajectory in the present scenario, with a strong emphasis on technological advancements and sustainability initiatives.
US Airport Runway Lighting Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG20A2213