Global Aviation Warning Lights Market
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Global Aviation Warning Lights Market was valued US$ 12.22 Bn in 2018 and is expected to reach 21.2 Bn by 2026, at a CAGR of 8.18 % during a forecast period.
Global Aviation Warning Lights Market: Overview
Aircraft warning lights (AWL) are lighting devices fixed on any permanent or temporary structure which could posture a potential hazard to air navigation. Lighting systems, frequently called obstruction lights, designed with different shapes, colours and light intensity to produce an adequate level of safety. Growing demand for high-rise skyscrapers and government regulations and policies to rise acceptance of obstruction lights for aircraft safety, which is expected to drive the global aviation warning lights market. The market in North America is increasing at a significant CAGR of XX %, owing to numerous technological inventions and advancement of smart cities in the region.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Aviation Warning Lights Market: Drivers and Restraints
Economic development, high living standards, and rapid progress of smart cities are resulting in increased demand for tall buildings across the world. In order to see this rising demand and attract buyers, players in the construction sector are building high-rise apartments, thus distinguishing their projects from others. Substantial developments in the telecommunication industry and wind turbines and growing demand for high-rise skyscrapers are some of the main factors driving the global aviation warning lights market. Hence, the rising demand for high-rise skyscrapers is projected to enhance the utilization of aviation warning lights across the world during the forecast period.
On the other hand, High costs of raw materials like LEDs is one of the key restraints in the growth of the market. High demand in aviation warning lights is making this segment attractive for the investor that include PE funds, Companies and governments across the globe.
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Last Update : Sep 10, 2020
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