Global Navigation Lighting Market to Grow at a CAGR of 4.54% During the Period 2017-2021


Albany, NY -- (SBWIRE) -- 06/19/2017 -- About Navigation Lighting

Navigation light, a key safety equipment, is a colored source of illumination fitted on a waterborne vessel, aircraft, and spacecraft. Navigation lights help provide the relative position of the craft, and are commonly known as position lights. These lights are used to signal a craft's position, heading, and status. The placement of the lights is mandated by international conventions or civil authorities. Navigation lights are used mainly from sunset to sunrise, or in times of limited visibility, such as fog, rain or low light. Vessels that operate at night, whether at anchor or underway, must carry and display correct navigation lights. The light helps vessels to determine which is the give-way vessel while encountering each other at night. All waterborne vessels and crafts used for commercial or pleasure purposes must adhere to the regulations concerning navigation lighting.

Technavios analysts forecast the global Navigation Lighting market to grow at a CAGR of 4.54% during the period 2017-2021.

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Covered in this report

The report covers the present scenario and the growth prospects of the global Navigation Lighting market for 2017-2021. To calculate the market size, the report considers the sales of navigation lighting for marine and aerospace applications.

The market is divided into the following segments based on geography:

Technavio's report, Global Navigation Lighting Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Aveo Engineering

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Other prominent vendors
Hella Marine

Market driver
Increase in aircraft fleet
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Market challenge
Collapse of shipbuilding industry in China
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Market trend
Declining manufacturing cost of LEDs
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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