Military Lighting Market projected to reach $615.2 million by 2023

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Military Lighting Market projected to reach
615.2 million by 2023
This report provides an analysis of the military
lighting market for the forecast period from
2018 to 2023. It discusses industry and
technology trends that are currently prevailing
in the military lighting market. It analyzes
the factors that drive and restrain the growth
of the military lighting market as well as the
challenges faced by it. The military lighting
market is projected to grow from an
estimated USD 484.5 million in 2018 to USD 615.2
million by 2023, at a CAGR of 4.89 from 2018 to
2023. Various measures undertaken by governments
across the globe for the adoption of more energy
efficient lights in their military platforms and
the technological advancements in LED technology
are expected to drive the military lighting
market during the forecast period. Download PDF
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Tables and 41 Figures spread through 183 Pages
and in-depth TOC on "Military Lighting
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eports/military-lighting-market-220722552.html Ea
rly buyers will receive 10 customization on this
report. Among platforms, the airborne segment of
the military lighting market is projected to grow
at the highest CAGR during the forecast period.
While the marine segment is expected to grow at a
constant pace, the ground segment is expected to
account for the major share of the market across
the globe. Among solutions, the services segment
is expected to grow at the highest rate as major
fitting, retrofitting and maintenance services
are expected to be required for the adoption of
LED technology. The growing awareness about the
advantages of the use of LED lights over Non-LED
lights, the market adoption rate, are expected
to lead to growth at a high CAGR. Most militaries
services are retrofitting incandescent and
fluorescent lights with LED lights which will
cause the market for Non-LED lights to either
grow at a very slow rate or show negative growth
rate. The North America region is projected to
lead the military lighting market during the
forecast period. Rising military upgrades, such
as the retrofitting of LED lights in the marine
segment and military airports,
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and the adoption of LED lights for airborne and
other applications are expected to lead to North
America accounting for the largest market share
during the forecast period. The Asia Pacific
military lighting market is projected to grow at
the highest CAGR from 2018 to 2023.
Modernization programs are increasing in the Asia
Pacific aviation, ground, and marine military
platforms, which is leading to the adoption of
advanced aircraft military lighting systems.
These factors are anticipated to further propel
the demand for military lighting in the APAC
region. Moreover, major defense powers in this
region, such as China and India are investing
substantial amounts in the manufacture and
procurement of advanced military aircraft and
marine military platforms, which is expected to
further accentuate market growth. Inquiry before
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