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Navigation Lighting Market Report

RA08346

Navigation Lighting Market by End-User (Marine and Aerospace) and Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

COVID-19

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Impact of covid-19 on Navigation Lighting Market

The global navigation lighting market was accounted for $35,781.8 thousand in 2019 and is predicted to generate a revenue of $41,706.1 thousand by 2027 with a CAGR of 3.6% during the forecast period. The Asia-Pacific region was accounted for $18,821.2 thousand in 2019 and is predicted to grow with a CAGR of 4.2% in the estimated timeframe.

Navigation Lighting Market Analysis

Navigation lights are mostly known as position or running lights that are used to navigate the parking of a ship or landing of an aircraft. These lights are used to indicate the personnel about the position and orientation to execute an accurate landing or parking of the concerned vehicle. 

COVID-19 Impact Analysis on the Global Navigation Lighting Market

The COVID-19 pandemic has created a negative impact on the global navigation lighting market. Due to the government-imposed lockdown, most of the places across the globe were shut including airports and marine depots impacting the global market drastically. In addition, the dramatic drop in the demand of passenger aircrafts due to the COVID-19 pandemic and social distancing rules and regulations is predicted to hinder the navigation lighting market. 

Increasing demand of air travel is predicted to drive the navigation lighting market in the forecast period

Though passengers have to pay higher prices for tickets they prefer to travel via air as they can reach their destinations in lesser time than that required to travel via road or rail. The aviation industry is growing at a fast rate. According to India Brand Equity Foundation (IBEF), in 2020, India has become the third largest domestic aviation market in the world. With more people opting for air travel there will a noticeable rise in the aviation industry leading to the production of more aircrafts to meet the demands. The equitable rise in aircrafts will need airport development which will boost the use of navigation lights in the analysis period.

High cost of navigation lights is predicted to hinder the market in the estimated period. 

Navigation lights are made of incandescent filaments, light emitting diodes (LEDs), halogens, flashes or strobes, and high intensity discharge (HID) bulbs. These lights are used to provide colors such as red, white, and green which indicate different sides (left, center, and right). The cost involved in manufacturing and installing these lights is expensive which is predicted to be the biggest restraint for the market. Despite of high investment costs, there are high chances that the light can get damaged. For instance, overheating can reduce lamp life and the light would need to be changed or modified after a specific period of time. Other possibilities of self-damage of the lights are also predicted to hinder the market in the estimated timeframe. 

Navigation Lighting Market, by End-User:

Marine end user is predicted to have the highest market share in 2027

Navigation Lighting Market, by End-User

Source; Research Dive Analysis 

Marine end user sub segment is predicted to have the highest market share across the forecast period. The sub segment was accounted for $19,693.1 thousand in 2019 and is predicted to grow with a CAGR of 3.1% in the estimated timeframe. Navigation lights are used to mark accurate directions for safe landing or parking of the aircrafts and ships preventing any sort of major accidents. This is predicted to drive the market in the estimated period. 

Navigation Lighting Market, by Region:

Asia-Pacific region market is predicted to experience growth as well as investment opportunities in the estimated timeframe. 

Navigation Lighting Market, by Region

Source; Research Dive Analysis 

Asia-Pacific region market is predicted to create growth opportunities in the forecast period. Asia-Pacific region market accounted for $18,821.2 thousand in 2019 and is predicted to rise with a CAGR of 4.2% in the forecast period. Rapid development in infrastructure and government initiatives to develop airports is predicted to be the major driving factor for the region in the estimated period. Development of airports will include installation of navigation lights hence propelling the market growth. For instance, in Feb 2021, International Aviation Transport Association (IATA), rolled out a mobile phone application for airline passengers that will direct them to their specific aircrafts and seats with the help of navigation lights. This is because airports have reduced their staff that assists people to their seats in order to follow social distancing norms. IATA’s app will be available on the Apple iOS and Android systems. Navigation lights are helping passengers to have a hassle-free travel during the pandemic which may increase the demand for navigation lights in the region market in the estimated period.

Key Participants in the Navigation Lighting Market:

Key Participants in the Navigation Lighting Market

Source: Research Dive Analysis

The major key players in the navigation lighting market are Glamox AS, Aveo Engineering Group, s.r.o., Hella Marine, Perko Inc., Lutron Electronics Co., Inc, Canepa & Campi, Den Haan Rotterdam, FAMOR S.A., and TRANBERG. Companies are investing in new product developments and collaborations to capture a dominant market share in the global navigation lighting market in the estimated period. 

Porter’s Five Forces Analysis for the Navigation Lighting Market:

  • Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be medium as there are considerable suppliers in the market.
    The bargaining power of suppliers is moderate.
  • Bargaining Power of Consumers: In this market, there are limited number of buyers present. 
    The bargaining power of consumers is high.
  • The threat of New Entrants:  A large skilled workforce and heavy investments are required to enter the market.
    The threat of new entrants is low.
  • The threat of Substitutes: The technology implemented in the lights costs too much, due to which switching costs for clients also increases. 
    The threat of substitutes is low.
  • Competitive Rivalry in the Market: There are numerous players in market and consumers can choose who to get services from. 
    The competitive rivalry in the industry is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by End user

  • Marine
  • Aerospace

  Key Countries Covered

U.S., Canada, Mexico Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Latin America, Middle East, Africa

  Key Companies Profiled

  • Glamox AS
  • Aveo Engineering Group, s.r.o.
  • Hella Marine
  • Perko Inc.
  • Lutron Electronics Co., Inc
  • Canepa & Campi
  • Den Haan Rotterdam
  • FAMOR S.A.
  • TRANBERG

Frequently Asked Questions
 

A. Navigation lighting market was accounted for $35,781.8 thousand in 2019 and is predicted to grow with a CAGR of 3.6% in the forecast period

A. Glamox AS and Hella Marine are the key players in the global navigation lighting market

A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Asia-Pacific lighting Market is projected to grow at 4.2% CAGR during the forecast period.

A. Collaboration is one of the key strategies opted by leading companies in this navigation lighting market.

A. Glamox AS is the company investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.End User  trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.By End User
3.8.2.By region

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Event Type  manufacturers
3.9.5.3.Event Type  distributors
3.10.Strategic overview

4.Navigation Lightning  Market , by End User

4.1.Marine

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019-2027

4.2.Aerospace

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019-2027

5.Navigation Lightning  Market, by Region

5.1.North Region

5.1.1.Market size and forecast, by End user , 2019-2027
5.1.2.Comparative market share analysis, 2019-2027

5.1.3.U.S

5.1.3.1.Market size and forecast, by End user , 2019-2027
5.1.3.2.Comparative market share analysis, 2019-2027

5.1.4.Canada

5.1.4.1.Market size and forecast, by End user , 2019-2027
5.1.4.2.Comparative market share analysis, 2019-2027

5.1.5.Mexico

5.1.5.1.Market size and forecast, by End user , 2019-2027
5.1.5.2.Comparative market share analysis, 2019-2027

5.2.Europe

5.2.1.Market size and forecast, by End user , 2019-2027
5.2.2.Comparative market share analysis, 2019-2027

5.2.3.UK

5.2.3.1.Market size and forecast, by End user , 2019-2027
5.2.3.2.Comparative market share analysis, 2019-2027

5.2.4.Germany

5.2.4.1.Market size and forecast, by End user , 2019-2027
5.2.4.2.Comparative market share analysis, 2019-2027

5.2.5.France

5.2.5.1.Market size and forecast, by End user , 2019-2027
5.2.5.2.Comparative market share analysis, 2019-2027

5.2.6.Italy

5.2.6.1.Market size and forecast, by End user , 2019-2027
5.2.6.2.Comparative market share analysis, 2019-2027

5.2.7.Rest of Europe

5.2.7.1.Market size and forecast, by End user , 2019-2027
5.2.7.2.Comparative market share analysis, 2019-2027

5.3.Asia-Pacific

5.3.1.1.Market size and forecast, by End user , 2019-2027
5.3.1.2.Comparative market share analysis, 2019-2027

5.3.2.China

5.3.2.1.Market size and forecast, by End user , 2019-2027
5.3.2.2.Comparative market share analysis, 2019-2027

5.3.3.India

5.3.3.1.Market size and forecast, by End user , 2019-2027
5.3.3.2.Comparative market share analysis, 2019-2027

5.3.4.Japan

5.3.4.1.Market size and forecast, by End user , 2019-2027
5.3.4.2.Comparative market share analysis, 2019-2027

5.3.5.South Korea

5.3.5.1.Market size and forecast, by End user , 2019-2027
5.3.5.2.Comparative market share analysis, 2019-2027

5.3.6.Australia

5.3.6.1.Market size and forecast, by End user , 2019-2027
5.3.6.2.Comparative market share analysis, 2019-2027

5.3.7.Rest of Asia Pacific

5.3.7.1.Market size and forecast, by End user , 2019-2027
5.3.7.2.Comparative market share analysis, 2019-2027

5.4.LAMEA

5.4.1.1.Market size and forecast, by End user , 2019-2027
5.4.1.2.Comparative market share analysis, 2019-2027

5.4.2.Latin America

5.4.2.1.Market size and forecast, by End user , 2019-2027
5.4.2.2.Comparative market share analysis, 2019-2027

5.4.3.Middle East

5.4.3.1.Market size and forecast, by End user , 2019-2027
5.4.3.2.Comparative market share analysis, 2019-2027

5.4.4.Africa

5.4.4.1.Market size and forecast, by End user , 2019-2027
5.4.4.2.Comparative market share analysis, 2019-2027

6.Company profiles

6.1.Glamox AS

6.1.1.Business overview
6.1.2.Financial performance
6.1.3.Event Type  portfolio
6.1.4.Recent strategic moves & developments
6.1.5.SWOT analysis

6.2.Aveo Engineering Group, s.r.o..

6.2.1.Business overview
6.2.2.Financial performance
6.2.3.Event Type  portfolio
6.2.4.Recent strategic moves & developments
6.2.5.SWOT analysis

6.3.Hella Marine

6.3.1.Business overview
6.3.2.Financial performance
6.3.3.Event Type  portfolio
6.3.4.Recent strategic moves & developments
6.3.5.SWOT analysis

6.4.Perko Inc,

6.4.1.Business overview
6.4.2.Financial performance
6.4.3.Event Type  portfolio
6.4.4.Recent strategic moves & developments
6.4.5.SWOT analysis

6.5.Lutron Electronics Co., IncBusiness overview

6.5.1.Financial performance
6.5.2.Event Type  portfolio
6.5.3.Recent strategic moves & developments
6.5.4.SWOT analysis

6.6.Canepa & Campi

6.6.1.Business overview
6.6.2.Financial performance
6.6.3.Event Type  portfolio
6.6.4.Recent strategic moves & developments
6.6.5.SWOT analysis

6.7.Den Haan Rotterdam

6.7.1.Business overview
6.7.2.Financial performance
6.7.3.Event Type  portfolio
6.7.4.Recent strategic moves & developments
6.7.5.SWOT analysis

6.8.FAMOR S.A.

6.8.1.Business overview
6.8.2.Financial performance
6.8.3.Event Type  portfolio
6.8.4.Recent strategic moves & developments
6.8.5.SWOT analysis

6.9.TRANBERG

6.9.1.Business overview
6.9.2.Financial performance
6.9.3.Event Type  portfolio
6.9.4.Recent strategic moves & developments
6.9.5.SWOT analysis

Navigation light is a source of illumination on an aircraft, ship, or spacecraft. Navigation lights are used to avert collisions at night or when visibility is low, thus keeping the vessel safe and sound. These lights provide information about activity, size, and direction of travel. Furthermore, navigation lights can elucidate and determine a firm course of action while approaching another vessel. Apart from this, navigation lights are comprised of specific colors such as white, green, red, yellow, and blue, each with its unique application. For example, if one is riding a power recreational boat between sunset to sunrise, then one all-around white light with 360 degrees orientation and two miles visibility is required. Moreover, navigation lights are mandatory for all kinds of aviation transport or ships as per the international conventions.

Forecast Analysis of Navigation lighting Market

Flying from one destination to the next for business purposes or tourism is a growing trend in today’s time as this mode of transport saves a lot of time if not money. The rates for aviation travel aren’t getting any cheaper yet people are opting for this quite often. This very reason is estimated to boost the demand for navigation lights for aircraft in the coming years. According to a recent report updated by Research Dive, the global navigation lighting market is projected to reach $41,706.1 thousand by 2027.   Also, as per the statistics published on investindia.gov.in, India has about 91 international carriers encompassing 86 foreign carriers and 5 Indian carriers. These numbers are expected to rise to 1,200 aircraft by 2024. The website also mentions that India has the fastest-growing aviation market and is anticipated to cater to 520 million passengers by 2037. All these facts and figures indicate a steady growth of the aviation industry and this, in turn, is expected to bolster the navigation lighting market growth in the forthcoming years.

Latest Developments in the Navigation Lighting Market

The leading players of the global navigation lighting market are opting for unique strategies such as new product announcements, mergers & acquisitions, building product portfolios, fundraising for forthcoming projects, and investments in research & development. These strategies are helping the companies in gaining an edge in the global market.

For instance, in July 2020, Oceanic Systems, a producer of the display, integrated alarms, and control systems for commercial vessels, launched the NMEA2000 navigation light controller. This product is developed to monitor and control 8, 16, or 24 LED navigation lights.

Further, in June 2019, R.STAHL TRANBERG, a provider of smart marine applications, introduced the TRANBERG BlueLine lighting series, a portfolio of cost-effective, high quality, and next-generation lighting for the marine industry. The BlueLine series comprises searchlights, navigation lights, floodlights, and deck lights for all forms of vessels. This series offers safety, connectivity standards, and sustainability for modern ships.

In May 2018, Glamox, a lamp manufacturing company based in Norway, revealed Aqua Signal Series 60 and series 61 LED navigation lights consisting of integrated countdown systems. These series are designed to solve the issue of failing lanterns. Moreover, the navigation lights are developed to last for 100,000 hours at 45 degrees temperature.

Covid-19 Impact on the Market

The global navigation lighting market is experiencing a negative impact during the Covid-19 pandemic due to the shutdown of airports and dockyards as navigation lights play a crucial role in aircraft and ships. This aspect has led to a downfall in the demand for passenger airplanes and freights which in turn resulted in hindering the market growth. According to the data prepared by IATA (International Air Transport Association), the airline passenger revenue was expected to drop by $314 billion in 2020 due to the outbreak. The data further states that the Asia-Pacific region witnessed the highest net profit of -$29.0 billion in 2020. All these factors predict the decline of the aviation sector during the pandemic, thus resulting in the fall of the navigation lighting market.

Concluding Thoughts

The global navigation lighting market is indirectly affected due to the aviation or marine industries as navigation lights keep aircraft and ships secure. Apart from this, the invention of new LED navigation lights by key players is estimated to boost the market in the coming years. Further, the market is anticipated to recover at the end of the pandemic season.

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