Aircraft Passenger Exit Path Lighting Market to Reach $1.1 billion, Globally, by 2032 at 6.8% CAGR: Allied Market Research
PORTLAND, Ore. , April 30, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Aircraft Passenger Exit Path Lighting Market by Light Source (LED, Fluorescent, and Incandescent), Aircraft Type (Commercial Aircraft, General Aircraft, and Others), and Lighting Type (Floor Proximity Lighting and Emergency Exit Signs): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the aircraft passenger exit path lighting market was valued at $585.2 million in 2022, and is estimated to reach $1,101.8 million by 2032, growing at a CAGR of 6.8% from 2023 to 2032.
- On the basis of light source, the LED segment held the highest market share in 2022, accounting for more than three-fifths of the global aircraft passenger exit path lighting market revenue.
- On the basis of aircraft type, the commercial aircraft segment held the highest market share in 2022, accounting for more than half of the global aircraft passenger exit path lighting market revenue.
- These regulations mandate the installation of specific exit path lighting systems to ensure passenger safety during emergencies, driving market demand.
- This growth necessitates the expansion of airline fleets, resulting in a higher demand for aircraft and associated safety equipment like exit path lighting systems.