Global Military Lighting Market is Estimated to Reach $615 Million by 2023, Says Accurize Market Research

Global Military Lighting Market report published by Accurize Market Research forecast that the global market is expected to reach $615 million by 2023; growing at a CAGR of 5% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Technological advancements and rising awareness relating to cost-effective and energy-efficient characteristics of LED lights to drive the growth of the market

An increase in technological advancements and rising awareness relating to cost-effective and energy-efficient characteristics of LED lights fuel the demand for the global military lighting market. Furthermore, an improvement in LED technologies and high precision lighting also boosts the growth of the market.

Market Segmentation

The global military lighting market has been bifurcated on the basis of application, technology, solution, and geography. The application segment is further segmented into ground, airborne and marine. The technology segment can be bifurcated into LED and neon LEDs. Furthermore, the solution segment includes hardware, software, and services.

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By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Russia, Germany, France, Spain, Italy, and others. Asia-Pacific covers China, India, Japan, Australia, South Korea, and others. RoW covers South America, the Middle East, and Africa.

Top players in the market

The key players operational in the market includes Astronics Corporation, Cobham PLC, Honeywell International Inc., Luminator Technology Group, Oxley Developments Company Ltd, Rockwell Collins Inc., Soderberg Manufacturing Company Inc., STG Aerospace, United Technologies Corporation, Zodiac Aerospace, Orion Energy Systems, Inc., and Carmanah Technologies Corporation among others.