Market Overview
The
Global Multi-Function Display Market is expected to reach a value of
USD 18.9 billion in 2023, and it is further anticipated to reach a market value of
USD 42.1 billion by 2032 at a
CAGR of 9.3%. The market has seen a significant increase in the recent past and is predicted to grow significantly during the forecasted period as well.
A multi-function display (MFD) is a compact screen that provides a variety of information & performance data in customizable ways. It has keys for easy navigation and is used in aviation to manage and display aircraft information such as engine status, navigation details, and flight data.
Further, the smarter multi-function display is anticipated to become more popular than its regular version. As it's used in military, commercial aviation, automobiles, and ships, it works well with main flight screens in new & advanced aircraft, which shows the digital progress in aviation. Moreover, the market is growing because of better technology and more efficient systems, which is making way for a bright future for the market as well.
Market Dynamic
The Global Multi-Function Display Market is showing growth due to its wide application in military and commercial aircraft, automotive, ships, and aviation. Further, the increasing demand for aircraft and the adoption of multi-function displays for border security and ground control stations further drive the market's growth.
However, deduction in defense budgets among developed countries may hinder the global multi-function display market. Moreover, the complex nature of operating these systems, coupled with training requirements, presents challenges to the growth of the market. Yet, the automotive sector's growing adoption of multi-function displays offers major revenue opportunities for market players.
Research Scope and Analysis
By Platform
The airborne platform emerges as the dominant platform segment in 2023 and is anticipated to experience substantial growth over the forecast period. Multi-function displays (MFDs) are integral components of the digital era in modern helicopters & airplanes. The market's expansion can be seen due to the increasing adoption of MFD technology in both military & commercial aircraft. This advancement allows pilots to streamline critical information onto a unified screen, surrounding moving maps, navigation routes, weather radar, airport particulars, and safety systems. Additionally, MFDs offer advantages like efficient cockpit space utilization and multi-page data presentation, boosting the market's growth.
By System
In 2023, the electronic flight display (EFD) segment dominates the overall global market and is further anticipated to stay the same over the forecasted period. This trend is expected to continue due to the advantages EFDs offer. As cockpit instrument displays, EFDs provide flight data electronically, replacing older methods. They include important components such as altimeters & heading indicators, helping pilots understand obstacles, weather, and altitude. Additionally, EFDs provide essential details about aircraft systems such as fuel 7 electrical systems, which further drives the growth in this segment.
By Technology
The Light Emitting Diode (LED) segment, which dominates in 2023, demonstrated significant revenue growth in recent years and is anticipated to hold its position during the forecasted period. This growth is projected to continue, with the LED segment positioned for major expansion. Operating as a flat panel display, LEDs utilize an array of diodes to visibly project images and videos on screens. The importance of this technology enhances its major role in driving the dynamic evolution of display landscapes.
Moreover, the advancement of technologies like AMLCD (Active Matrix Liquid Crystal Display) has the potential to significantly fuel the multi-function display market. These advancements provide enhanced capabilities and functionalities. AMLCDs deliver high-end displays with improved clarity & responsiveness. As these technologies develop and integrate into multi-function displays, they are positioned to play a major role in driving market growth.
The Global Multi-Function Display Market Report is segmented on the basis of the following:
By Platform
By System
- Electronic Flight Displays
- Helmet-Mounted Displays
- Portable and Flexible Multi-function Displays
- Head-up Displays
- Others
By Technology
- Active-Matrix Liquid-Crystal Display (AMLCD)
- Thin-Film Transistor (TFT)
- Liquid-Crystal Display (LCD)
- Light-Emitting Diode (LED)
- Synthetic Vision
- Organic Light-Emitting Diode (OLED)
Regional Analysis
North America, led by the US and Canada, leads the market in
2023, contributing about 34.1% of total revenue. This dominant position is expected to stay, as the influence of the US and Canada is a major factor in driving the market's growth within the region. This growth is further attributed to the widespread adoption of multi-function displays across military, business, & commercial aircraft.
The North American market's growth is further boosted by the adoption of diverse safety management systems & devices in aircraft. Government initiatives as well as investments in the military & commercial aviation sectors contribute significantly to the growth of the market. Further, strict government regulations aimed at pilot and passenger safety, along with the growing use of multifunction displays in automotive vehicles, fuel the market's expansion. Furthermore, the vibrant global air transportation sector plays a major role in boosting the North American market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In this market, research and development (R&D) along with innovation remain major growth strategies. Some of the major industry players, including Honeywell Aerospace, Rockwell Collins, Thales SA, Avidyne Corporation, and BAE Systems, uses this approach.
These key participants prioritize R&D to advance multi-function display technologies, enhancing features and introducing new solutions. Their commitment to innovation helps them stay competitive and responsive to market shifts. Their dedicated efforts enhance their significant role in driving the growth and evolution of the multi-function display market.
For instance, in June 2023, Intellisense Systems, a well-established supplier of avionics displays solutions, introduced the Primary Flight Display 12 x 9 (PFD–1209). This latest offering showcases a 15-inch screen equipped with vFusion capabilities and a pixel resolution of UXGA (1600 x 1200). Significantly, it includes a dual-mode backlight feature along with compliance for night vision.
Some of the prominent players in the Global Multi-Function Display Market are:
- Honeywell Aerospace
- Rockwell Collins
- Thales SA
- BAE Systems
- FLIR Systems
- Avidyne Corporation
- Barco NV
- Garmin Ltd
- Raytheon Company
- AMTEL GROUP
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Multi-Function Display Market:
The global multi-function display market saw significant challenges due to the combined impact of the COVID-19 pandemic and the subsequent economic recession. Supply chain disruptions impacted manufacturing and delivery, while reduced consumer spending and travel restrictions led to decreased demand, particularly in the aviation and automotive sectors where multi-function displays are essential components. The recession prompted businesses to reevaluate budgets, resulting in postponed or canceled projects.
However, as the situation gradually stabilizes, the market recovers and finds its stability. The gradual revival of the aviation and automotive industries, along with the ongoing digital transformation across sectors, drives the renewed demand for multi-function displays. The focus on safety, operational efficiency, and advanced technology solutions could fuel further growth in the market as organizations seek innovative strategies to adapt to the evolving business landscape and consumer demands.
| Report Characteristics |
| Market Size (2023) |
USD 18.9 Bn |
| Forecast Value (2032) |
USD 42.1 Bn |
| CAGR (2023-2032) |
9.3% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Platform (Naval, Airborne and Land), By Size
(Electronic Flight Displays, Helmet-Mounted Displays,
Portable and Flexible Multi-function Displays, Head-
up Displays and Others) By Technology (Active-Matrix
Liquid Crystal Display, Thin-Film Transistor, Liquid-
Crystal Display, Light-Emitting Diode, Synthetic Vision
and Organic Light-Emitting Diode) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Honeywell Aerospace, Rockwell Collins, Thales SA,
BAE Systems, FLIR System, Avidyne Corporation,
Barco NV, Garmin ltd, Raytheon Company, AMTEL
Group and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Multi-Function Display Market is estimated to reach USD 18.9 billion in 2023, which is further expected to reach USD 42.1 billion by 2032.
North America dominates the Global Multi-Function Display Market with a share of 34.1% in 2023.
Some of the major key players in the Global Multi-Function Display Market are Honeywell, Rockwell, Thales, and many others.
The market is growing at a CAGR of 9.3% over the forecasted period.
Contents
1.1.Objectives of the Study
1.3.Market Definition and Scope
2.Multi-Function Display Market Overview
2.1.Global Multi-Function Display Market Overview by Type
2.2.Global Multi-Function Display Market Overview by Application
3.Multi-Function Display Market Dynamics, Opportunity, Regulations, and Trends Analysis
3.1.1.Multi-Function Display Market Drivers
3.1.2.Multi-Function Display Market Opportunities
3.1.3.Multi-Function Display Market Restraints
3.1.4.Multi-Function Display Market Challenges
3.2.Emerging Trend/Technology
3.4.PORTER'S Five Forces Analysis
3.6.Opportunity Map Analysis
3.11.Supply/Value Chain Analysis
3.12.Covid-19 & Recession Impact Analysis
3.13.Product/Brand Comparison
4.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Platform, 2017-2032
4.1.Global Multi-Function Display Market Analysis by By Platform: Introduction
4.2.Market Size and Forecast by Region
5.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By System, 2017-2032
5.1.Global Multi-Function Display Market Analysis by By System: Introduction
5.2.Market Size and Forecast by Region
5.3.Electronic Flight Displays
5.4.Helmet-Mounted Displays
5.5.Portable and Flexible Multi-function Displays
6.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Technology, 2017-2032
6.1.Global Multi-Function Display Market Analysis by By Technology: Introduction
6.2.Market Size and Forecast by Region
6.3.Active-Matrix Liquid-Crystal Display (AMLCD)
6.4.Thin-Film Transistor (TFT)
6.5.Liquid-Crystal Display (LCD)
6.6.Light-Emitting Diode (LED)
6.8.Organic Light-Emitting Diode (OLED)
8.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Organization Size, 2017-2032
8.1.Global Multi-Function Display Market Analysis by By Organization Size: Introduction
8.2.Market Size and Forecast by Region
8.3.SMEs (Small and Medium Enterprises)
9.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By End-user Industry, 2017-2032
9.1.Global Multi-Function Display Market Analysis by By End-user Industry: Introduction
9.2.Market Size and Forecast by Region
9.Global Multi-Function Display Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by Region, 2017-2032
9.1.1.North America Multi-Function Display Market: Regional Trend Analysis
9.2.1.Europe Multi-Function Display Market: Regional Trend Analysis
9.3.1.Asia-Pacific Multi-Function Display Market: Regional Trend Analysis
9.3.1.7.Rest of Asia-Pacifc
9.4.1.Latin America Multi-Function Display Market: Regional Trend Analysis
9.4.1.5.Rest of Latin America
9.5.Middle East and Africa
9.5.1.Middle East and Africa Multi-Function Display Market: Regional Trend Analysis
10.Global Multi-Function Display Market Company Evaluation Matrix, Competitive Landscape, Market Share Analysis, and Company Profiles
10.1.Market Share Analysis
10.3.2.Financial Highlights
10.3.5.Key Strategies and Developments
10.4.2.Financial Highlights
10.4.5.Key Strategies and Developments
10.5.2.Financial Highlights
10.5.5.Key Strategies and Developments
10.6.2.Financial Highlights
10.6.5.Key Strategies and Developments
10.7.2.Financial Highlights
10.7.5.Key Strategies and Developments
10.8.2.Financial Highlights
10.8.5.Key Strategies and Developments
10.9.2.Financial Highlights
10.9.5.Key Strategies and Developments
10.10.2.Financial Highlights
10.10.3.Product Portfolio
10.10.5.Key Strategies and Developments
10.11.2.Financial Highlights
10.11.3.Product Portfolio
10.11.5.Key Strategies and Developments
10.12.2.Financial Highlights
10.12.3.Product Portfolio
10.12.5.Key Strategies and Developments
10.13.2.Financial Highlights
10.13.3.Product Portfolio
10.13.5.Key Strategies and Developments
11.Assumptions and Acronyms