Multi-Function Display Market Assessment, By Technology Type [Light-Emitting Diode, Liquid Crystal Display, Organic Light-Emitting Diode, Others], By Product Type [Electronic Flight Display, Helmet-Mounted Display, Head-up Display, Portable Multi-function

Multi-Function Display Market Assessment, By Technology Type [Light-Emitting Diode, Liquid Crystal Display, Organic Light-Emitting Diode, Others], By Product Type [Electronic Flight Display, Helmet-Mounted Display, Head-up Display, Portable Multi-function Display], By Size [Less Than 5", 5" - 10", 10" - 15", Above 15"], By End-use [Aviation, Marine, Military, Automobile, Others], By Region, Opportunities and Forecast, 2016-2030F

Global multi-function display market has experienced significant growth with projected revenue of approximately USD 15.67 billion in 2022, the market is forecasted to reach a value of USD 29.87 billion by 2030, displaying a robust CAGR of 8.4% from 2023 to 2030. The multi-function display delivers advantages such as heightened situational awareness, increased operational efficiency and reduced visual clutter across diverse sectors. These displays simplify decision-making, elevate user interactions, enhance safety, and boost productivity by consolidating real-time data, navigation details, and control functions into a single screen.

The multi-function display market is growing because of rising demand in the aviation, automotive, and military sectors. The advancement of touchscreen technology, as well as the requirement for extensive data presentation, are fueling its expansion. Furthermore, better user experiences, greater safety, and operational efficiency are crucial drivers of the continuous growth in these sectors, which is favoring the market growth.

The global multi-function display market is undergoing a significant transformation due to ongoing technological advancements. These displays are continually enhanced with state-of-the-art features, improved performance, and greater efficiency. Advancements in display quality, touch interfaces, and connectivity options are revolutionizing user experiences in sectors such as aviation, automotive, and industrial sectors. Integration with innovative technologies like augmented reality and predictive touch is expanding their versatility and applicability. Additionally, streamlined manufacturing processes, cost-effective production, and energy-efficient designs are ensuring the market's competitiveness. Technological innovations are driving the growth of multi-function display market, providing customized solutions for various industries and increasing demand on a global scale.

For instance, in April 2023, Aithre Aviation debuted Healthview, a Part 23-approved smart cabin biometric solution that monitors health metrics and controls built-in oxygen systems for pilots and passengers, at the Sun 'n Fun Aerospace Expo.

Rising Automotive Demand Promoting the Market’s Growth

The multi-function display market is experiencing growth driven by the increasing automotive demand for advanced infotainment and navigation systems. Modern vehicles are integrating multifunction displays to streamline controls, entertainment, and essential data presentation, reducing driver workload and enhancing safety. Augmented reality displays further enhance situational awareness by overlaying information like navigation commands and road hazards. The adoption of advanced technology requires high-performance connectors capable of withstanding the harsh automotive environment. For example, Samtec connectors undergo rigorous severe environment testing to ensure they meet the demanding requirements of the automotive industry. Commercial and industrial vehicles are leveraging this technology to optimize their operations.

In December 2022, the Scenic View Head-up Display (HUD) was presented by Continental, projecting razor-sharp, visible-to-all vehicle information right onto the lower glass edge, boosting safety and design possibilities.

Military Modernization Driving Demand for Multi-Function Display Market

The multi-function display market is thriving due to the military's drive for advanced display systems in both aircraft and ground vehicles. These multi-function displays are instrumental in elevating situational awareness, training effectiveness, and mission preparedness. They offer realistic simulations and training scenarios for soldiers, enhancing their ability to handle real-world situations. As a part of military modernization initiatives, MFDs are seamlessly integrated into the latest combat systems, minimizing human errors and streamlining decision-making processes. Consequently, the multi-function display market is experiencing robust growth, as defense organizations globally seek for state-of-the-art technologies to equip their military assets and personnel for the intricacies of contemporary warfare.

For example, in September 2023, BAE Systems selected Collins Aerospace, a subsidiary of RTX, to supply Large Area Displays (LADs) to develop Eurofighter Typhoon cockpits. These LADs will concentrate critical flight data and tactical information, allowing pilots to make better decisions in high-stakes scenarios.

Dominance of LCD in Multi-Function Display Market

Due to its inherent advantages, LCD technology relishes superiority in the multi-function display market. LCDs provide improved visual clarity by displaying high-resolution pictures and text, which is critical in applications like aviation and military, where accuracy is critical. LCDs are energy-efficient, which means they last longer and use less electricity. Furthermore, they are adjustable and can be integrated into a wide range of display sizes and form factors, making them useful for a wide range of applications. LCDs' robustness and longevity bound their dominance in the multi-function display market, where dependability is critical.

For instance, in March 2022, Mercury Systems received a USD 7.4 million order for active-matrix LCD modules intended for a significant multi-function display application in cockpits. The order comes from a leading defense prime contractor, and the delivery is anticipated to take place over several quarters.

North America Dominates Multi-Function Display Market

North America's significance in the multi-function display market has been attributed to the region's substantial defense industry, which supports the demand for multifunction displays through major military modernization initiatives and technical breakthroughs. Furthermore, North America has a well-established aerospace and military sector with an emphasis on integrating innovative technology, which has made multifunction displays a crucial component of mission-critical systems. The region's proactive commitment to research and development fuels future innovation in multi-function display technology. These features, along with a strong emphasis on retaining military dominance, position North America as a market leader in multifunction displays, assuring the availability of innovative display solutions for a wide range of defense applications.

For instance, in January 2023, Raymarine introduced new products, such as, the Axiom 2 Pro multifunction chart plotters, the RVM1600 CHIRP sonar module, the CAM300 IP camera, and expanded LightHouse charts. These offerings provide boaters with a holistic onboard navigation solution.

Government Initiatives Acting as Catalyst to Multi-Function Display Market

Government initiatives that focus on breakthroughs in sensory interface technology and immersive simulation environments might help the multi-function display market to develop considerably. The government promotes innovation in fields like virtual reality (VR) and augmented reality (AR) by funding research and development to produce high-fidelity and plug-and-play sensory interfaces. These initiatives result in commercially available, easily integrated devices that improve the capabilities of VR, AR, and immersive simulations. As a result, demand for multifunction displays rises, which plays an important role in boosting overall situational awareness and information transmission inside these training and simulation systems.

Impact of COVID-19

The COVID-19 pandemic in 2020 restrained the multi-function display market growth. Before the pandemic, the business was prospering, fueled by rising demand for sophisticated displays in the aviation, automobile, and marine industries. During the pandemic, however, industrial interruptions and lower consumer spending caused a decline. Following the pandemic, the industry recovered as companies and consumers saw the value of improved digital interfaces for navigation, communication, and entertainment, pushing the use of multifunction displays even further. The crisis emphasized the need for durable, user-friendly displays, which fueled innovation and expansion for multi-functional display market in the post-pandemic period.

Future Market Outlook (2024 – 2030F)

Ongoing advancements in display technologies, such as OLEDs, MicroLEDs, and flexible displays, promised more versatile and higher-quality multifunction displays.

Multifunction displays will play a pivotal role in autonomous and connected vehicles, serving as crucial information and control interfaces.

Enhanced multifunction displays in aerospace applications will enhance navigation, communication, and situational awareness.

The development of more energy-efficient and environmentally friendly display technologies.

Integration with augmented reality and virtual reality applications will open new frontiers for interactive experiences.

Key Players Landscape and Outlook

There is robust competition in global multi-function display market, with major industry leaders shaping the landscape. The key players in this highly competitive market include BAE Systems plc, recognized for its advanced solutions in defense and aerospace, Elbit Systems Ltd. stands out for its pioneering display technologies, while Garmin Ltd. dominate the consumer electronics and automotive sectors. Honeywell International Inc. is committed to avionics and industrial solutions, and RTX Corporation leads the way in wireless communication and navigation systems. These key players are committed to innovation, expanding their product offerings to meet the evolving needs of diverse industries, ensuring a dynamic and competitive market outlook.

In October 2023, Garmin unveiled the ECHOMAP Ultra 2 chart plotter series, which has 10-to-12-inch touchscreens, UHD scanning sonar, Navionics+ mapping, wireless networking, and an improved angler user interface.

In September 2023, Raymarine announced the AlphaTM Series display, Smart WindTM Technology, and LightHouse OS sailing upgrades for Axiom chart plotters, catering to performance sailors by delivering accurate wind monitoring and intelligent sailing support.