A MarketsandMarkets report says the global aircraft lighting sector will expand at a combined annual growth rate (CAGR) of 5.08 percent and reach a total value of $2.55 billion by 2021.
The report says that several factors will drive the market going forward. These include growth in the number of aircraft built, increase in low cost carriers the growth of domestic aviation and the desire for efficient alternatives to existing installed lighting. The report says that the retrofit and regional aircraft markets are expected to grow at the fastest rate during the period that the report covers.
One of the main reasons for the reduction in energy expenditures by the Department of Defense is the shrinking cost of fuel for aircraft, according to a report from The Federal Energy Management Program (FEMP).