LED vs Incandescent Bulb

LED Incandescent Bulb
Average Life 100,000 hours 2,000 hours
Failure Mode Predictable Unpredictable
Lifetime affected by on/off operation No Yes
Resistant to shock and vibration Yes No
Operating temperature Low High
Power consumption Low High
Susceptible to cold filament inrush current No Yes

Cost Savings
Based on an average incandescent bulb life of three months, converting to DDP® LEDs will pay for itself in material costs alone within the first year. This payback period is only considering the cost of the incandescent bulb. It does not take into account the labor cost associated with changing bulbs, power savings, operating downtime, incandescent bulb inventory and ordering costs, and other significant factors. 

Long Life
The most compelling advantage of using LED is a predictable life. LEDs are solid-state devices and, by definition, control current without heated filaments. When used within its design parameters, a LED will operate up to 100,000 hours (or 10 years). Furthermore, LED lifetime is not shortened by turning the lamp on and off.
The life of an incandescent bulb is unpredicatable - subject to catastrophic failure due to shock, vibration or cold filament inrush current.  Initial powering of a control panel with numerous incandescent bulbs will generally result in several failures.

Cooler Operation
Since incandescent bulbs generate light by heating a filament, they also heat the lenses they illuminate. This causes discoloration and eventual melting of the control panel lenses. LED lamps generate much less heat than the incandescent bulbs they replace. Furthermore, heat is dissipated through the base of the LED lamp, keeping the lens cooler. 
Lens melting and discoloration is so common with extended use of incandescent bulbs.

Power Consumption
LEDs generally draw much lower current than incandescent bulbs.
While lower power consumption reduces operating costs, it also reduces wear on other components in the application such as transformers, batteries and power converters. 

Cold Filament Inrush
When cold, and incandescent filament draws ten times as much current as it does during normal operation. The initial powering of hundreds of incandescent bulbs simultaneously causes significant voltage surges that lead to lamp failures. 
LED lamps are designed with series resistors to limit the operating current, resulting in no cold filament current variation.