As discussed here (https://devsupport.flightsimulator.com/questions/124/fx-and-lighting.html). Although an emissive material could allow for other type of effects, I don't think it is the right solution to add a "light" source to an effect.
If you think about it, the legacy FX system is being deprecated, which is what it is currently used to add navigation lights.. so in my view it would be easier and more straight forward to allow an "emitter" to just emit light in a colour, intensity, angle and distance as desired.
This way we can create a new "effect", emit particles as desired but also emit light if desired.. example: Fire, Afterburner, Volumetric Lights, Nav Lights, etc. without the need to create / bake emmisive textures which would just increase the workload / workflow for content providers, it would also be useful to add a setting per emitter regarding visible range / distance where the emmitter should be visible. This would allow to cull or increase the distance to which an effect (including lights) should be visible or not.
A typical example is that currently navigation lights are far too visible over the distance.. it is crazy.. airport runways are not even in visible range, but you see all the AI traffic navigation lights on the ground cluttering together.. it is a total immersion killer.
We need ways to instruct the video game engine when / where an effect (being a light or not) should be visible... specially for lighting effects / behaviours.