Global Navigation Lighting Market to Witness Significant Growth Due to Acquisitions Like That of Vai Photonics by Advanced Navigation

Navigation lighting is a source of illumination for travelling aircrafts, sea vessels, or spacecrafts and help in providing information about the location and status of the aircraft or sea vessel. This information is crucial for other crafts that are travelling through the same area so that these crafts can reorient their journey accordingly. Hence, navigation lighting is also called as running or position lighting. The vital nature of the navigation lighting can be understood from the fact that prominent international conventions have mandated the use of navigation lighting for both, aircrafts and sea vessels.

Forecast Analysis

Over the years, there has been a dramatic increase in the demand for air travel all across the globe. This increase in demand, in turn, is predicted to boost the demand for navigation lighting and consequently result in the growth of the navigation lighting market in the forecast timeframe. Along with this, growth in demand for faster, safer, and convenient modes of transport is predicted to boost the market further. Moreover, various government schemes introduced in different countries to boost air travel is anticipated to offer numerous growth opportunities to the market in the coming years. However, the high cost of navigation lighting is expected to become the major hurdle in the growth of the navigation lighting market in the forecast years.

Regionally, the navigation lighting market in the Asia-Pacific region is expected to grow at the fastest rate by 2030. Rapid development in the infrastructure in various countries of this region in the form of development of numerous airports and seaports has led to an increase in demand for navigation lighting, which is predicted to help in the growth of this market in this region.

As per the report published by Research Dive, the global navigation lighting market is expected to gather a revenue of $51,277.1 thousand in the 2021–2030 timeframe and grow at 4.2% CAGR by 2030. Some prominent market players include Glamox AS, Lutron Electronics Co., Inc, Den Haan Rotterdam, Aveo Engineering Group, Canepa & Campi, FAMOR S.A., Hella Marine, TRANBERG, Perko Inc., S.R.O, and many others.

Covid-19 Impact on the Navigation Lighting Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The global navigation lighting market, too, has faced a similar fate. The travel restrictions and lockdowns that were put in place to curb the spread of the virus had disastrous impact on the air travel and shipping industry. Naturally, the spill-over effect of this impact was felt by the navigation lighting market also, as the demand for navigation lightings dropped drastically during the pandemic years.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the navigation lighting market to flourish. For instance:

• In July 2020, Oceanic Systems, a UK-based marine equipment manufacturer, announced the launch of its NMEA2000® Navigation Light Controller which is designed to monitor and control 8, 16, or 24 LED navigation lightings. This product launch by Oceanic Systems perfectly addresses the current demands of the navigation industry, and hence will help the company to increase its presence in the market in the near future.
   
• In April 2021, SPX Corporation, a highly-engineered infrastructure equipment provider, announced the acquisition of Sealite, a leading manufacturer of marine navigation products. Along with this, SPX Corportation has also acquired Sealite’s affiliated entities, viz., Avlite Systems and Star2M. These acquisitions are expected to help SPX Corporation to consolidate its position significantly in the navigation lighting industry.
   
• In May 2022, Advanced Navigation, a navigation and AI robotics company, announced the acquisition of Vai Photonics, a navigation technology developer. With this acquisition, Advanced Navigation would be much better placed in order to cater to the demands of its customers and thereby increase its footprint in the market in the long run.