The Military Displays Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Military Displays Global Market Report 2024, The military displays market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increased demand for rugged displays, focus on soldier modernization, training and simulation systems, cybersecurity concerns, global defense expenditure..
The military displays market size is expected to see strong growth in the next few years. It will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to focus on energy-efficient displays, surge in unmanned systems, human-machine interface (hmi) developmen, urban warfare and close quarters operations, multi-function displays.. Major trends in the forecast period include integration of touchscreen technology, advancements in night vision display technology, transition to oled and quantum dot displays, focus on cybersecurity in display systems, development of ruggedized and sunlight-readable displays, development of flexible and curved displays..
The growing use of computing and connected devices in the armed forces is expected to propel the growth of the military display market going forward. In recent years, many countries worldwide have focused more on increasing their defense budgets to provide their militaries with connected devices and smart computing capabilities to modernize their military operations and enhance national security. The military displays are part of connected devices with smart capabilities to aid military operations. For instance, in July 2020, according to an article published by the Armed Forces Communications and Electronics Association, a US-based non-profit organization serving the military, government, industry, and academia as a forum for advancing professional knowledge, the number of connected devices is expected to double in the year 2023 as compared to the year 2019 in the US armed forces due to an explosion of new products and an increasing number of Internet of Things (IoT)-targeted attacks on the military. Therefore, the growing use of computing and connected devices in the armed forces is driving the growth of the military display market.
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The military displays market covered in this report is segmented –
1) By Type: Smart Displays,Conventional Displays
2) By Technology: LED, LCD, AMOLED, OLED
3) By Computer Display: Microdisplays, Small and Medium-Sized Panels, Large Panels
4) By End Market: Naval, Airborne, Land
Technological advancement is the key trend gaining popularity in the military display market. Major companies operating in the military display market are focused on research and development for product innovations and better solutions to strengthen their position in the market. For instance, in May 2022, L3 Harris Technologies, a US-based company operating in aerospace and defense technology to deliver end-to-end solutions to meet customers’ mission-critical needs such as medical displays, introduced its advanced military display with image intensification technology and thermal imagery known as the Fused Panoramic Night Vision Goggle (F-PANO). Image intensification technology is used to increase the intensity of low available light in surrounding such as a night in an optical system to enhance visual imaging for clear vision. F-PANO provides an advanced mobility system for the operator to assess and engage threats on the battlefield with greater speed and clarity and is capable of providing system communication to the end-user device to display Android Tactical Assault Kit (ATAK) information within the field-of-view of the goggle.
The military displays market report table of contents includes:
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Top Major Players:
. BAE Systems PLC, Lockheed Martin Corporation
. L3Harris Technologies Inc
. Elbit Systems Limited
. General Digital Corporation
. CP Technologies LLC
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