Military Lighting Market: Global Forecast to 2023
January 3, 2019
A market study projects the military lighting market will grow from US$484.5 million in 2018 to US$615.2 million by 2023, at a CAGR of 4.89% from 2018 to 2023.
The need to integrate cost-effective technology and LED lighting with modernized military systems has propelled key players to advance military lighting technology. Military lighting manufacturers are focusing on the development of lighting for airborne, ground, and marine platforms.
The airport lighting segment is expected to account for major market share during the forecast period, while the combat helmet lighting segment is expected to grow at the highest rate. The use of LED lights in military airports are expected to drive the market for military airport lighting.
Geographically, North America is expected to remain the largest region due to high focus on energy savings and advancement in lighting technology. The Asia-Pacific region is expected to lead the military lighting market during the forecast period. Rising military upgrades, modernization of military systems, and purchase of military jets and ships are expected to upsurge demand in the military lighting market in this region during the forecast period.
Major companies profiled in the military lighting market report are Oxley Developments Company Ltd (UK), Astronics (US), Orion Energy Systems, Inc. (US), and Carmanah Technologies Corporation (Canada).
This information and more appears in Military Lighting Market by Application (Ground, Marine, and Airborne), Technology (LED, and Non-LED), Solution (Hardware, Software, and Services), and Region (North America, Europe, Asia Pacific, Middle East, Rest of the World) – Global Forecast to 2023. Find out more: www.marketsandmarkets.com/PressReleases/military-lighting.asp.
