Helmet Mounted Lighting Solutions Market - Global Industry Growth, Trends, and Forecast 2016 - 2024

Helmet mounted lighting solutions are an important equipment for military operations. It is used in modern aircraft, particularly in combat aircraft. Increasing demand for helmet mounted lighting solutions from the defense sector is the major factor likely to drive the market during the forecast period. The other factors fueling the market are rise of non-state threats such as ISIS and hybrid threats such as terrorism. The market is segmented on the basis of component, application, end use, and geography. The major factors driving the helmet mounted lighting solutions market are growing usage of helmet mounted lighting solutions in AR and VR applications, rise in the number of products launched, and helmet mounted lighting solutions for medical education among others. Cloud computing in helmet mounted lighting solutions is acting as an opportunity for the market.

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Based on component, the helmet mounted lighting solutions market is divided into battery, goggles, head trackers, relay optics, digital light processing, and others. Among various types of components in 2016, the battery segment was the key market. Increasing preference for helmet mounted lighting solutions is one of the key factors driving the market during the estimated period. The head trackers segment is estimated to increase at the maximum CAGR during the forecast period. The other factors driving the market are declining prices of micro displays among others.

Based on applications, the market is divided into security, tracking, training and simulation, imaging and others. In 2015, the security segment was the major market. Increasing improvement in internet connectivity is one of the key factors expected to enhance the demand for helmet mounted lighting solutions during the anticipated period. However, limited battery life is a restraining factor for the helmet mounted lighting solutions market. Training and simulation segment is estimated to rise at the maximum CAGR during the forecast period.

Based on end use, the helmet mounted lighting solutions market is divided into military, navy, virtual reality, video gaming, air force, automation, sports, safety service, and others. In 2016, the military segment is anticipated to be the major market and would remain so through the forecast period. Video gaming segment is estimated to increase at the maximum CAGR during the forecast period. The key factor enhancing demand is its ability to provide low noise navigation.

Based on geography, the helmet mounted lighting solutions market is divided into Asia Pacific, North America, Europe, Middle East & Africa, and South America. North America has the key market share followed by Europe. Some of the major factors driving the market in North America are huge military spending and rise in demand for new aircrafts. In 2015, the U.S. was the key market for helmet mounted lighting solutions globally. Europe is the second major market for helmet mounted lighting solutions followed by Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to witness the maximum CAGR among all regions during the forecast period.

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Some of the major players in the helmet mounted lighting solutions market are BAE Systems Plc (U.K.), Rockwell Collins, Inc. (U.S.), Google Inc. (U.S.), Thales Group (France), and Sony Corporation (Japan). These major players are focusing on penetrating growing economies and are implementing several methods to boost their market share. In addition, some of the other major players are Elbit Systems Ltd (Israel), Seiko Epson Corporation (Japan), eMagin Corporation (U.S.), Sensics, Inc. (U.S.), NEC Corporation (Japan), Oculus VR, LLC (U.S.), Kopin Corporation (U.S.), and Vuzix Corporation (U.S.) among others.

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