The global aviation warning lights market
was valued at US$ 721.4 Mn in 2018 and is anticipated to register a
stable CAGR of 6.5% from 2019 to 2027, according to a new research
report, published by Transparency Market Research (TMR) titled ‘Aviation
Warning Lights Market – Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2019–2027.’ Increasing demand for high-rise
skyscrapers and government regulations and policies to increase adoption
of obstruction lights for aircraft safety are driving the global
aviation warning lights market. The market in North America is expanding
at a significant CAGR of 6.6%, owing to numerous technological
innovations and development of smart cities in the region.
Rising Demand for High-rise Skyscrapers to Drive Market
Economic growth, high living standards,
and rapid development of smart cities are resulting in increased demand
for tall buildings across the world. In order to meet this rising demand
and attract buyers, players in the construction sector are building
high-rise apartments, thereby differentiating their projects from
others. Significant developments in the telecommunication industry and
wind turbines and rising demand for high-rise skyscrapers are some of
the primary factors driving the global aviation warning lights market.
High costs of raw materials, such as
LEDs, are some of the factors hindering the market. Several companies
are making efforts to carry out research and development activities to
introduce innovations in aviation warning lights. In order to prevent
risk of collision in case of aircraft flying near the structures, the
demand for aviation warning lights is rapidly increasing. Aviation
warning lights make structures more visible for passing aircraft. They
are usually used at night, although they can be used during the daytime.
These lights need to have sufficient brightness in order to be visible
at miles away from the structure.
Moreover, high-rise buildings offer
technological as well as financial advantages in areas with high
population density. They have become a distinctive feature of housing
accommodation in virtually all densely populated urban areas worldwide.
Hence, the rising demand for high-rise skyscrapers is expected to
augment the utilization of aviation warning lights across the world
during the forecast period.
0 comments:
Post a Comment