Global Military Lighting Market was valued US$480Mn in 2017 and is expected to reach US$860.35Mn by 2026 at a CAGR of about 7.57% during a forecast.
Global Military Lighting Market is segmented into an application, by technology, by solution, and by region. Based on application, military lighting market is classified into Ground, Marine & Airborne. In technology are parted into LED & Non-LED. In solution are segmented into Hardware, Software & Services. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Global Industry Analysis and forecast 2018-2026.
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Driving factors of military lighting market are increase in the defense budgets of an important number of territories. Military lighting installation requires lighting for security, roadways, vehicles, tanks bunkers, Patrolling and 24X7 surveillance, military residential purposes, and various other areas, advancements in LED lighting technologies and governments across the globe are focusing more on providing more efficient military lighting in their respective governance will boost the demand for military lighting market.
The existing backlogs of firms supplying military equipmentâ€™s and power generation issue can hamper the growth of military lighting market.
In terms of application, ground segment shares the largest market during the forecast period. This growth is increasing in retrofitting of LED lights in military airports, base camp, training center, sustainable providing sophisticated dim lighting, modernization of soldier systems, obstruction & beacon lighting, rising demand for armoured vehicles across different countries and rising demand for armoured vehicles across different countries will create more opportunity in military lighting market.
In terms of Technology, LED is projected to grow at fastest during the forecast period. LED technology in the military sector for efficient use of energy, reduction in overall operation and maintenance cost, increased government focus and expenditure on installing efficient lighting, various countries is taking various initiatives to adopt more energy efficient lights in the military bases and most militaries growing awareness and advantage can boom the demand for LED technology in military lighting market.
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Among region, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Emerging economies and modernization of military systems, purchase of military jets and ships, the region rapid changes in regulations to make defense more advancing on the technology front and advancement in the defense technologies related to land, marine and air force in respect to income can lead for better market penetration in the military lighting market. North America is expected to remain the largest region in the military lighting market.