Instrument Landing System And Visual Landing Aids Market by Category (Instrument Landing System CAT I, Instrument Landing System CAT II, Instrument Landing System CAT III), Visual Landing Aids (Approach Lighting, Taxiway Lighting, Runway Lighting), Technology (Incandescent Light, LED), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

Newark, NJ, Feb. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global instrument landing system and visual landing aids market is expected to grow from USD 1.62 billion in 2020 to USD 2.45 billion by 2028, at a CAGR of 5.3% during the forecast period 2021-2028.

Runway incursions can lead to severe collisions causing significant aircraft damages and endanger human life. It is a safety concern that needs to be addressed. It is not necessary that runway incursions occur in adverse situations; it can also happen under normal conditions. Advanced instrument landing systems and visual landing aids become critical in preventing runway incursions and assists the aircraft in landing as well as taxing safely. Airport innovation is a critical factor that fuels the growth of the global instrument landing system and visual landing aids market. Increasing air traffic all over the world has resulted in the requirement of build-up airport capacity. With modern state-of-art ILS & VLA systems entering the market, old systems will be replaced with new & advanced technology.

With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the instrument landing system and visual landing aids market. With less disposable income and broken supply chains, the market's growth is expected to slow down. Due to lockdowns worldwide, air travel had been closed in many countries, slowing down the market.

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Key players operating in the global instrument landing system and visual landing aids market include ADB Airfield Solutions, LLC, ATG Airports, Ltd, Rockwell Collins, Inc., Systems Interface Ltd, Astronics Corporation, Honeywell International, Inc., Multi Electric Manufacturing Inc., and SAAB Sensis, among others. To gain a significant market share in the global instrument landing system and visual landing aids market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. ADB Airfield Solutions, LLC and Honeywell International, Inc. are some of the biggest manufacturers and suppliers of instrument landing system and visual landing aids in the global market.

Instrument Landing System CAT I dominated the market and held the largest market share of 39.75% in the year 2020

The category segment consists of Instrument Landing System CAT I, Instrument Landing System CAT II, and Instrument Landing System CAT III. Instrument Landing System CAT I dominated the market and held the largest market share of 39.75% in the year 2020. The large share of this segment can be attributed to factors like rising airport construction & expansion activities, increasing passenger traffic, and the requirement for better runway operational efficiency.

Approach lighting leads the market and is anticipated to grow at the highest CAGR of 6.1% over the forecast years

Based on visual landing aids, the global market has been segmented into approach lighting, taxiway lighting, and runway lighting. Approach lighting leads the market and is anticipated to grow at the highest CAGR of 6.1% over the forecast years. The approach lighting system helps the pilot to land when the runway or its lights are not visible.

LED segment dominated the market and held the largest market share of 61.86% in the year 2020

On the basis of technology, the instrument landing system and visual landing aids market has been divided into incandescent light and LED. The LED segment dominated the market and held the largest market share of 61.86% in the year 2020. LEDs offer various advantages over incandescent lighting such as higher energy efficiency, more brightness, and less radiant heat. LEDs are comparatively more energy efficient and consume less power as the energy is not wasted on generating radiant heat. The LED segment is also expected to register the highest CAGR over the coming years.

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Regional Segment Analysis of the Instrument Landing System And Visual Landing Aids Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America) 
• Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global instrument landing system and visual landing aids market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia-Pacific region accounted for the major market share of 38.62% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as increasing passenger traffic, rapid infrastructure development, high airfield congestion at busy airports, and rising airport construction & expansion activities. The Asia-Pacific region is also expected to grow at the highest CAGR during the forecast period from 2021-2028. Emerging economies like India, Brazil, Indonesia, Vietnam, and China are especially lucrative, considering their growth potential.

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About the report: 

The global instrument landing system and visual landing aids market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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