Head Up Display Market Growth Is Mainly Attributed to Increased Vehicular Traffic and Growing Production of Aircrafts
Hyderabad, India - July 23, 2021 /MarketersMedia/ —
The Head Up Display Market size is forecast to reach $7.1 billion by 2026, growing at a CAGR of 24.5% in the period 2021-2026. The growth of the Head Up Display Market is mainly attributed to increased vehicular traffic and growing production of aircrafts. For instance, revenue from aircrafts exports increased from $143.17 billion in 2017 to $156.61 billion in 2019 for the U.S. The Head Up Display Market is anticipated to immensely benefit from emergence of smart devices such as Garmin Head up Display (HUD) and SmartView Synthetic Vision, which has further elevated demand for head up displays. The need for improved steering and navigation, Instrument landing system have propelled the adoption of Synthetic vision systems such as Head Up Display. The improving technologies in terms of display and projection units with adoption of Liquid Crystal display on Silicon (LCoS), optical collimator and digital micromirror devices will drive the market projection.
Head Up Display Market Segment Analysis – By Technology
Optical waveguide head up displays is a major segment, accounting for around 56% in the Head Up Display market globally in 2020. They find application in the aviation sector owing to the advantages they offer in terms of data projection, easy installation and cost efficiency. In recent years, increased investments in the aerospace sector globally have fuelled demand for head up displays for aircraft steering and instrument landing systems. The U.S. has encouraged NATO countries to expand their aerospace and military expenditure.
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Head Up Display Market Segment Analysis – By Application
One of the significant growth factors for the Head Up Display market is the deployment of HUDs in civil aircrafts and passenger vehicles. The aviation segment for the Head Up Display market is poised to grow at a CAGR of 24.2% in the forecast period 2021-2026. Manufacturers have been increasingly forced to integrate advanced features such as head-up display with Liquid crystal displays and digital micromirror device to improve Display luminance. Research is being carried out to design innovative HUD interfaces aiming to reduce operator distraction and improve performance. Boeing has introduced its 787 advanced flight deck, incorporating head up displays, that integrates dual global positioning system receivers with triple-redundant flight management systems that enhances precise flight vision through aircraft steering and instrument landing systems.
Head Up Display Market Segment Analysis – By Geography
North America holds a dominant share of 37% in the head up display market in 2020, which can be attributed to increased investments in the aerospace sector. According to the Aerospace Industries Association, aerospace exports in U.S. have increased by 26% from $113 billion in 2012 to $154 billion in 2019. In 2019, the Canadian Department of National Defense awarded a contract worth $14.5m to Marconi Aerospace Defense Systems to develop and integrate vision imaging systems and head-up displays for the Canadian CH-146 Utility Tactical Transport Helicopter (UTTH).
Head Up Display Market Drivers
Increased Investments In The Military Sector
In the military and defense aviation sector, there has been a significant increase in the deployment of head up displays. This rise is attributed to the capability of HUDs to direct the pilot’s vision outside the aircraft and provide all the necessary flight information to the pilot. This results in an increase in overall efficiency and safety, which are essential considerations for the defense and military sectors. Moreover, demand for real-time monitoring of data by on-board instruments such as head up displays for improved aircraft steering and instrument landing systems in military aircrafts has consequently led to increased investments for deployment of head up displays in the aerospace sector.
Rise In Production Of Civil Aircrafts
As per the International Air Transport Association, passengers travelling by domestic airlines globally increased from 561 billion in 2018 to 589 billion in 2019. The rise in passenger traffic globally has subsequently called for an increase in the production of civil aircrafts. According to the International Air Transport Association (IATA), approximately 39,000 aircrafts are estimated to be produced by 2027. This is anticipated to significantly increase demand for head up displays in civil aircrafts. Moreover, companies are focusing on developing innovative head up displays for enhancing precision within aircrafts.
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Head Up Display Market Challenges
System Delays
In military applications, head up displays need to display the relevant information within a desired time frame. However, system delays often occur as a result of several factors including sensor delay, system processing speed and display update rate. Regardless of the source, the overall system delay results in the presentation of information that is inconsistent with the aircraft’s current state, further leading to errors in flight operation and reduced overall efficiency.
Head Up Display Market Landscape
Major players in the Head Up Display Market include BAE Systems, Thales Group, Nippon Seiki, Visteon, Bosch, Continental, Microvision, Elbit, Honeywell and Garmin Ltd.
Partnerships/Product Launches/Contracts
In July 2019, Leonardo S.p.A. signed a contract worth €300mwith the Armaments and Airworthiness Department of the Italian Ministry of Defense, aimed at supplying 13 M-345 High Efficiency Trainers (HET) equipped with head up displays.
In February 2019, Continental AG increased its investment in DigiLens Inc. from the $25m it had invested in 2016. This investment is targeted at developing a waveguide head up display that fulfills requirement of applications across industries such as aerospace, automotive and others.
Key Takeaways
The major driving factor in the Head Up Display Market is increased investments in the aerospace sector during the forecast period. In this sector, head up displays are being deployed to aid pilots and drivers in estimating the path and navigation and thereby enhancing flight and driver control and steering through synthetic vision systems.
Head up displays are being majorly deployed in small and mid-size aircrafts owing to their compactness, high accuracy sensors and cost efficient relay optics that are used to project the HUD image to the pilot. This has driven demand for projector units which hold the largest market share of around 28% in the components segment.
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