About Navigational Light
Navigation lights helps in providing information about the direction and activity about the travel. It is used to prevent any mishappening or collisions at night generally or in the lesser visibility. Navigational light allows nearby things or vessels to see the aircraft or ships to avoid any problem and take required step. The lights have specific colors like white, red green, yellow and blue that provides range of visibility and location as required by law and regulation.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 2.3% |
The market for navigational light is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Navigational Light market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Glamox AS (Norway), Daeyang Electric Co. Ltd. (South Korea), Aveo Engineering Group, s.r.o. (United States), Hella Marine (New Zealand), Lopolight (Denmark), Perko Inc. (United States), Carmanah Technologies Corporation (Canada), Sabik Marine Limited (United States), Ocean Signal (United States) and McKimm Associates Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Vega Marine (United States), Signal Marine Inc. (United States) and CML Innovative Technologies Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Navigational Light market by Type (Low Light Intensity, Medium Light Intensity and High Light Intensity), Application (Waterborne Vessel, Aircraft, Spacecraft, Ships and Others) and Region.
On the basis of geography, the market of Navigational Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarket will boost the Navigational Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Light, the sub-segment i.e. Masthead Light will boost the Navigational Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Navigational Light in Shipa and Other Marine Transportation
Market Growth Drivers:
Need for Driving Lights for Proper Safety and Direction and Growing Marine and Aircraft Industry Demands Lights
Challenges:
Technical Problem Related to Electric Supply
Restraints:
Stringent Regulatory Guidelines Associated with Navigational Light
Opportunities:
Technological Advancement in Navigational Light and Increasing Spendings on Aircarfts and Maintenance
Market Leaders and their expansionary development strategies
In August 2023, OceanNav, a leading manufacturer of marine lanterns and navigation buoys, announced a partnership with Singapore's Agency for Technology, Media and Research (A*STAR) to develop next-generation navigational aids using advanced materials and artificial intelligence.
In October 2023, Carmanah Technologies, a Canadian company specializing in solar-powered LED marine lights, launched the Trident I Series, a new range of high-intensity LED navigation lights featuring extended battery life and improved visibility.
"According to the US foundation, Vessels are required to show the proper navigation lights from sunset to sunrise in all weather conditions, good and bad. During these times, no other lights that could be mistaken for lights specified in the Rules of the Road can be displayed, nor any lights that impair the visibility or distinctive character of navigation lights, or interfere with the keeping of a proper lookout. The Rules also state that navigation lights must be shown in conditions of reduced visibility, and may be shown at other times considered necessary."
Key Target Audience
Navigational Light Manufacturers, Navigational Light International Traders, Navigational Light DIstributors and Suppliers, Potential Investors, Regulatory Bodies, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.