Press release
Global Military Displays Market Projected to Surpass $1.62 Billion by 2029 with 6% Annual Growth
The military display market's development is set to accelerate due to the rising deployment of drones in armed forces. These drones are commonly used for activities such as reconnaissance, surveillance, and combat missions, serving to boost operational efficiency while minimizing personnel risk. Military displays are crucial components of these drones, providing real-time visual data to operators and thereby improving situational awareness, target identification, and monitoring of missions. For example, as per the Civil Aviation Authority (CAA)'s UK drone survey conducted in May 2023 among 2,000 adults, there was a significant increase in the military usage of drones in the UK, which was up to 48% in 2023 from the preceding five years. Consequently, the escalating use of drones in armed forces is fueling the expansion of the military display market.
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What is the future CAGR of the military displays market, and how will it impact industry expansion?
In recent times, the military displays market has experienced substantial growth. The market is expected to escalate from a size of $1.23 billion in 2024 to $1.3 billion in 2025, operating at a Compound Annual Growth Rate (CAGR) of 5.4%. This upsurge during the historic period can be linked with the increased need for rugged displays, an emphasis on soldier modernization, training and simulation systems, cybersecurity issues, and worldwide defense expenditure.
Over the next several years, a robust growth is anticipated in the military display market, with its size estimated to reach $1.62 billion in 2029 at a 5.7% compound annual growth rate (CAGR). This projected growth from now to the forecast period could be linked to the prioritization of energy-efficient displays, a rise in unmanned system usage, advancements in human-machine interfaces (HMI), urban warfare strategies, and close quarters operations demand multi-function displays. The forecast period also projects major trends such as touchscreen technology integration, advancements in night vision display technology, the shift towards OLED and quantum dot displays, emphasis on cybersecurity in display systems, the emergence of ruggedized and sunlight-readable displays, and the creation of flexible and curved displays.
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What are the most significant trends transforming the military displays market today?
The principle trend gaining traction in the military display market is technological advancement. Many of the primary enterprises in this sector are focusing their efforts on research and development in order to create innovative products and improve solutions, thereby solidifying their market position. An illustration of this is L3 Harris Technologies, a U.S.-based company specializing in aerospace and defense technology. In May 2022, they launched their cutting-edge military display named the Fused Panoramic Night Vision Goggle (F-PANO) featuring image intensification technology and thermal imagery. This technology bolsters the intensity of minimal ambient light such as at night, enhancing visual imaging for sharp vision. F-PANO offers an upgraded mobility system which allows operators to identify and counteract threats on the battlefield swiftly and distinctly. Additionally, it's equipped with communication capabilities, providing the ability to display Android Tactical Assault Kit (ATAK) information directly on the goggle's field-of-view.
Which key market segments comprise the military displays market and drive its revenue growth?
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
Subsegments:
1) By Smart Displays: Heads-Up Displays (HUD), Multi-Function Displays (MFD), Augmented Reality Displays, Tactical Displays
2) By Conventional Displays: CRT Displays, LCD Displays, LED Displays, Plasma Displays
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What regions are at the forefront of military displays market expansion?
North America was the largest region in the military displays market in 2024. Europe was the second-largest region in the military displays market. The regions covered in the military displays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the military displays market?
Major companies operating in the military displays market are BAE Systems PLC, Lockheed Martin Corporation, Thales Group, L3Harris Technologies Inc., Elbit Systems Limited, General Digital Corporation, Aselsan AS, Curtiss-Wright Corporation, Advanced Embedded Solutions Limited, Crystal Group Inc., Hatteland Technology AS, Neuro Logic Systems Inc., Winmate Inc., CP Technologies LLC, Zmicro Inc., Xenarc Technologies Corporation, Leonardo SpA, Milcots LLC, Raytheon Technologies Corporation, Honeywell International Inc., Esterline Technologies Corporation, Saab AB, Barco NV, General Dynamics Corporation, Northrop Grumman Corporation, Garmin Ltd., FLIR Systems Inc., Vartech Systems Inc., Planar Systems Inc., EIZO Corporation, IEE Inc., Avidyne Corporation, AMLCD Inc.
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What Is Covered In The Military Displays Global Market Report?
• Market Size Forecast: Examine the military displays market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the military displays market for a structured understanding.
• Key Players Overview: Analyze major players in the military displays market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the military displays market.
• Segment Contributions: Evaluate how different segments drive overall growth in the military displays market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the military displays market.
• Industry Challenges: Identify potential risks and obstacles affecting the military displays market.
• Competitive Landscape: Review strategic developments in the military displays market, including expansions, agreements, and new product launches.
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