Multifunction Display Market Size to Grow at a CAGR of 9.2% During the Forecast Period 2022-2027

May 03 19:16 2022
Multifunction Display Market Size to Grow at a CAGR of 9.2% During the Forecast Period 2022-2027
Multifunction Display (MFD) Market | IndustryARC
The Advancement of Technologies Such as Synthetic Vision Systems and AMLCD May Accelerate the Growth of the Multi-function Display Market.

Multifunction Display Market size is analysed to grow at a CAGR of 9.2% during the forecast 2022-2027 to reach $27.53 billion by 2027. A multi-function display is a small screen that is usually composed of a Cathode Ray Tube (CRT) or a Liquid Crystal Display (LCD) and is surrounded by various soft keys for showing information to the user. Smart and monitor displays both have multi-function displays. When compared to its counterpart, the smart variable of multi-function display is expected to hold a large market during the forecast period. Military aircraft, aviation, commercial aircraft, automotive, and marine all make use of multi-function displays. In Aviation an MFD is frequently used in concert with a primary flight display (PFD) and is a component of a glass cockpit. MFDs are a component of the digital era of modern planes and helicopters. Technological developments, as well as improved system efficiency, are projected to have a positive impact on the market. The market is expected to expand due to the increased use of Heads up Display (HUD), Head Mounted Display (HMD), helmet-mounted displays, electronic flight displays, and portable multi-function displays. The multi-function display (MFD) industry is segmented into LED, LCD/AMLCD, TFT, OLED, and Synthetic Vision system segments based on technology.

Multifunction Display Market Segment Analysis – By Product

By Product, Multifunction Display Market has been segmented into Electronic flight displays, head-up displays, Head Mounted displays (HMD), helmet-mounted displays, and portable multi-function displays. The head-up displays segment is expected to grow at a faster CAGR during the forecast period. Head-up displays (HUDs), which were originally employed in fighter jets, are increasingly making their way into more common automobile interiors and are marketed by manufacturers as a feature that makes driving easier and safer. Head-up displays can project a floating image of information that would be beneficial while driving directly ahead of the windscreen. Most head-up displays, for example, will project everything from speed and cruise control settings to directions and speed limits straight into the driver’s field of vision. In April 2021, Audi Expands the Use of Augmented Reality in the Head-Up Display. Automotive Head-Up Displays (HUDs) have the potential to give useful augmented reality information in the driver’s field of view.

Multifunction Display Market Segment Analysis – By Technology

By Technology, Multifunction Display Market has been segmented into LED, LCD/AMLCD, TFT, OLED, and Synthetic Vision Systems. The synthetic Vision Systems segment is expected to grow at a faster CAGR during the forecast period. A synthetic vision system (SVS) is an aircraft installation that merges three-dimensional data into user-friendly displays to increase flight crew situational awareness. SVS can be expected to improve situational awareness regardless of weather or time of day. Synthetic vision technologies assist pilots in landing and taking off in low-visibility conditions. Snow whiteout conditions or dense dust clouds are no longer required to prevent aircraft from taking off. Missions can be flown regardless of weather or time of day, and transit flights can take off and land. It helps the aviation industry to overcome various challenges, this is expected to boost the market growth.

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Multifunction Display Market Segment Analysis – By Geography

By geography, Multifunction Display Market has been segmented under North America, Europe, APAC, South America and RoW. Because of the increasing number of research efforts for the development of advanced and creative technology, North America will dominate the multi-function display (MFD) market. Due to various technological breakthroughs, North America has the potential to be a major player in the global multi-function market throughout the forecast period. For example, in April 2018, Osram Licht, a major lighting solutions company group, announced a collaboration with the US state of Tennessee to expand LED-based lighting retrofit projects in government facilities throughout the state. Such advancements in LED-based solutions are expected to have an impact on the multi-function display industry. The development of advanced sensor systems and capacitive touch screen panels may also have a substantial beneficial impact on the global multi-function display market during the forecast period.

Multifunction Display Market Drivers

The emergence of new technologies is expected to drive market growth:

The emergence of reflecting micro-display technologies also gives prospects for market expansion. The advancement of technologies such as synthetic vision systems and AMLCD (Active Matrix Liquid Crystal Display) may accelerate the growth of the multi-function display market. Doppler weather radar images and engine operation information can be displayed on multi-function displays in the absence of onboard weather radar. This can be attributable to technology advancements in high-resolution graphics processing from ground-based radar and relayed via data-link networks. Over the projection period, software architecture development will be a key driver of market growth. Because of the increased implementation of Blue Ocean tactics, the multi-function display (MFD) industry is positioned for growth. Portable military-grade multi-function displays and electronic flight displays continue to advance, providing value to MFD capabilities and paving the way for MFD market growth. At the moment, military considerations have heavily influenced the development of electronic flight displays.

The rising adoption of multi-function display in the aviation industry is expected to drive market growth:

The increased use of multifunction displays in the aviation industry, such as in commercial aircraft, military aircraft, and general aviation, as well as for shipboard use and automobile use, is a major driving reason behind the market’s expansion. Growing commercial and military aircraft production, rising government investment in the aviation industry, ongoing improvements in display technology, rising need to improve system efficiency, rapid growth in LED display technology, escalating demand for display screens with pilot-friendly graphics, and increasing adoption of smart wearable display devices are expected to boost market growth during the forecast period. The global multi-function display market is predicted to increase favourably due to the substantial involvement of Light Emitting Diode (LED) in multi-function displays and the significant growth of the LED market on a global level. It is predicted that advancements in LED-based solutions would have an impact on the multi-function display market. The development of advanced sensor systems and capacitive touch screen panels may also have a substantial beneficial impact on the global multi-function display market during the forecast period. Aside from its widespread use in military and commercial applications, the global multi-function display is projected to see widespread adoption in the automotive industry.

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Multifunction Display Market Challenges

During the projected period, the complexity of the system will be a challenge for the growth of the multi-function display market:

Declining defense budgets and the complexity of system architecture may stymie market expansion. In the projected period, market limitations for multi-function display (MFD) include declining defence budgets and product life cycles. Along with the key role of Light Emitting Diode (LED) in multi-function displays and the enormous expansion of the global LED market. However, integrating LED with this technology may provide a significant impediment to the growth of the multi-function display market. Owing to the prominent involvement of Light Emitting Diode (LED) in the multi-function displays and the significant growth of the LED market on a global level. Integration of LED with this technology can be one of the major challenges for the growth of the multi-function display market. The complexity of the system will be a challenge for the growth of the multi-function display market.

Multifunction Display Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Multifunction Display Market. In 2021, the market of Multifunction Display Market share has been fragmented by several companies. Multifunction Display top 10 companies include

1. Rockwell Collins

2. Elbit Systems

3. Honeywell Aerospace

4. Barco N.V.

5. Garmin Ltd

6. Raymarine (FLIR)

7. Samtel Group

8. Universal Avionics

9. BAE Systems

10. Esterline Technologies

Recent Developments

In January 2022, Subaru developed a 4.2 inch LCD Multifunction display into their Forrester vehicle. This display is to be used for a number of multimedia applications

In January 2022, Intellisense Systems Introduced its First 3ATI Avionics Multifunction Display to support a variety of operational flight programs. The new 3ATI display from Intellisense Systems delivers an active-matrix liquid crystal display and a customizable bezel to support expanded, repurposed, or upgraded avionics applications.

Key Takeaways

North America will dominate the multi-function display (MFD) market due to an increase in research activities for the development of advanced and creative technology. North America has the potential to be a prominent player in the global multi-function market throughout the forecast period due to different technological advances.

Missions can be flown regardless of weather or time of day, and transit flights can take off and land with the help of a synthetic vision system. It helps the aviation industry to overcome various challenges, this is expected to boost the market growth.

The emergence of reflecting micro-display technologies also gives prospects for market expansion. The advancement of technologies such as synthetic vision systems and AMLCD (Active Matrix Liquid Crystal Display) may accelerate the growth of the multi-function display market.

Relevant Report:

Display Market

https://www.industryarc.com/Report/15687/display-market.html

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