Business Technology

Navigation Light Market Set to Witness Impressive Growth as Stakeholders Invest in Technology 2019 to 2029

Navigation Light: Market Overview

The navigation light, also known as positional light, is a colored source of illumination fitted on waterborne vessel, aircraft and spacecraft. The increase in aircraft fleet and seaborne trade across the globe drives the growth of navigation light market. Navigation light helps in determining the position and status of approaching ships or aircraft as well as preventing collision. International convention or civil authorities mandates the navigation light placement, stringent government regulations requiring the installation of navigation light on steamboat and aircraft is likely to accelerate the growth of global navigation light market. The trend LED marine navigation light are gaining popularity due to their energy efficiency and long lifetime. Recently, R.STAHL TRANBERG launches TRANBERG- BlueLine Lighting Series- a portfolio of high quality, cost-effective and next-generation lighting for marine sector.

Navigation Light Market: Dynamics

The growing aerospace and marine industries have also created an immense opportunity for navigation light market. Growing global energy efficiency movement adds to the importance of lighting control system in the general lighting sector year-by-year. These benefits of navigation lighting systems are expected to translate readily into new business opportunities for lighting companies. However, the collapse of Chinese shipbuilding industry hinders the market growth. Furthermore, the decline in manufacturing cost of LEDs is opportunistic for the navigation light market. The new technologies in navigation light have gained massive traction in the last few years and are estimated to continue this trend during the forecast period.

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Navigation Light Market: Regional Analysis

The global navigation light market is segmented into seven regions: North America (U.S, Canada), Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. The Asia Pacific accounted for most significant percentage of market share in the overall navigation light market. Further, Asia Pacific is projected to continue its dominance over the forecast period on account of growing marine industries and increasing international trade. Increasing massive growth in GDP and trade volume in China & India is envisioned to bolster the growth of navigation light market. North America navigation light market anticipated showcasing a significant increase in the next few years due to a rise in the number of International commerce in the U.S and Canada.

Navigation Light Market: Segmentation

The global navigation light market can be segmented on the basis of end-user type, light intensity type, product type and light type.

According to the end user, the navigation light can be segmented as:

  • Marine
  • Aerospace

According to the light intensity type, the navigation light can be segmented as:

  • Low light intensity
  • Medium-light intensity
  • High light intensity

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According to the product type, the navigation light can be segmented as:

  • LED type
  • Halogen type
  • Incandescent type
  • Others

According to the light type, the navigation light can be segmented as:

  • Sidelight (Red and green)
  • Stern light (white)
  • Masthead light (white)
  • Others

Navigation Light Market: Key Manufacturers

The key manufacturers in the global navigation light market are – Venta Global Ltd., Attwood Marine Products, Glamox ASA, AVEO Engineering, PERCO. INC, Lopolight Aps, Hella Marine, TRANBERG and Navisafe AS among other market players.

Navigation Light Market: Competitive Analysis

The market for navigation light market can be moderately consolidated because of the presence of key players. Manufacturers of navigation light technology are actively engaged in accommodating a surge in demand for navigation light in different aviation and marine application. Players in the market are trying to push products in different sales channel for expansion in the global market as well as focus on increasing the product portfolio.

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Aman Roberts

Having Knack for precision, I take a meticulous approach to find informative pieces of news across industries such as technology, ICT, healthcare and F&B to name a few. Follow me to catch the latest trend.

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