Aviation Beacons Technology Market is Estimated to Register a CAGR of Nearly 21.4 % by 2024

 

Market Highlights

The global aviation beacons technology market accounted for significant growth owing to the high investments in the development of aviation infrastructure. Moreover, benefits such as improved operational efficiency is expected to drive the growth of the global aviation beacons technology market during the forecast period. However, high costs of the beacons is a factor expected to hinder market growth during the forecast period.

The global aviation beacons technology market is expected to witness significant growth owing to the rising investments in aviation infrastructure; this is due to the increase in the number of air travelers, which, in turn, has led to a rise in aircraft orders. Furthermore, the regulations levied by airport authorities to increase safety of flight operations are further expected to propel the growth of the global aviation beacons technology market.

The global aviation beacons technology market is segmented on the basis of type, application, and region. On the basis of type, the global aviation beacons technology market has been classified as low light intensity beacons, medium light intensity beacons, and high light intensity beacons. The high light intensity beacons segment is expected to to be the largest segment in terms of market share. The high light intensity beacons are primarily used for runways and aircraft taxi. They are also used for the alignment of an aircraft with the runway during landing and takeoff.

On the basis of application, the global aviation beacons technology market has been classified as airport, aerodome, runway, and others. The runway segment accounted forthe largest revenue share in 2018. Beacons are primarily used on runways to ensure safe landing and takeoff. Moreover, aviation beacons ensure efficient ground operations. 

Based on region, the global aviation beacons technology market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American market accounted for the largest market share and is expected to continue leading during the forecast period. Government investments in the aviation industry in the US is expected to fuel the growth of the global aviation beacons technology market.

Key Players

The key players in the global aviation beacons technology market are Point Lighting Corporation (US), Emerson Electric (US), Flight Light Inc. (US), Avlite Systems (Australia), Obelux Oy (Finland), Flash Technology LLC (US), TWR Lighting, Inc. (US), Clampco Products Inc. (US), Orga BV (Netherlands), and Unimar Inc. (US).

Access Report Details @ https://www.marketresearchfuture.com/reports/aviation-beacons-technology-market-8024

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