Our client, one of the top 10 inflight-technology companies, wanted to uncover the opportunities for LED lightings in the aircraft OEM market and aftermarket. Markets and Markets leveraged its engagement model to help the senior management make crucial decisions. Three of the key problems solved were-
Our engagement entailed identification of key disruptive technology trends concerning aircraft lighting that changed the revenue mix of the client’s clients in end-use industries, such as aftermarket and OEM. For instance, in the aftermarket, airlines are frequently changing existing lights with LED lights due to the latter’s long life cycle. However, the aircraft OEMs have started installing LED lights while linefiting of an aircraft. Our analyst hours were used to expand the understanding of interconnected ecosystems.
We interviewed a host of potential customers, manufacturers, suppliers to understand their unmet needs, potential use cases and benefits, which they derived from LED lighting technologies and what they looked for in a technology partner. Benchmarking of supply-side data of lighting products was collected from top manufacturers, to analyze the global market share. Our client services included the volume analysis of aircraft lights in OEM and aftermarket, which also included volume analysis of different types of lights used in the interior and exterior of an aircraft.
This helped the client to assess the market potential and identify high growth niche markets in the aircraft OEM and aftermarket. Further, we also helped the client understand the competitive landscape, varying business models and strategies of different players in the aircraft lighting market. This helped the client devise a differentiated product offering and forge suitable alliances to win in this market.
The client, with our market intelligence platform, KnowledgeStore, gained access to all high-growth niche markets related. Actionable insights offered helped in the identification of revenue opportunities. The sources of revenue shifts in connected ecosystems and unknowns emerging in it were assessed.
Revenue Shifts Identified
Emerging lighting technologies for cabin interiors is presumed to unravel growth opportunities for market players. Factors such as longer lifespan of LED lights, rapid shift from incandescent lights to LED lights, etc. are some of the drivers of the market.
Increasing use of aircraft sensors and avionics and its advancements are anticipated to influence the future trajectory of the market.
The impact and potential of wireless connectivity, and BYOD eye tracking technology is assessed to tap into upcoming revenue opportunities.
Revenue Impact (RI)
Our insights helped the client tap into multi-billion market, with projected revenue of ~USD 100 million in three years.
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