Commercial Airport Lighting Market to Reach $1.3 Billion, Globally, by 2033 at 7.6% CAGR: Allied Market Research [Yahoo! Finance]
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Source: Yahoo! Finance
WILMINGTON , Del. Sept. 16, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, Commercial Airport Lighting Market by Type (Runway Lighting Systems, Taxiway Lighting Systems, and Apron Lighting Systems), Technology (LED and Non-LED), and Position (Inset Airfield Lights, Elevated Airfield Lights, and Precision Approach Path Indicator (PAPI)): Global Opportunity Analysis and Industry Forecast, 2024-2033". The global commercial airport lighting market was valued at $ 0.7 billion in 2023 and is estimated to reach $1.30 billion by 2033, exhibiting a CAGR of 7.6% from 2024 to 2033. Prime determinants of growth The global commercial airport lighting market has experienced growth due to expansion & modernization projects, increase in air traffic, and airline industry growth. However, high initial investment, maintenance challenges, and limited airport expansion opportunities hinder market growth. Moreover, upcoming airport expansion projects and retrofitting existing
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