The global multi-function display market is anticipated to register growth over the forecast period. Technological advancements along with enhanced system efficiency are expected to favorably impact the market. The market is poised for growth, which can be attributed to increased usage in Head-Up Displays (HUD), Head-Mounted Displays (HMD), helmet-mounted displays, avionic flight displays, and portable multi-function display. Surging demand for integrated systems across numerous platforms, particularly airborne systems is expected to fuel market growth over the next few years.
Furthermore, the multi-function display (MFD) market is poised for growth owing to the increased implementation of Blue Ocean strategies. Portable military-grade multi-function display and electronic flight displays continue to evolve adding value to MFD capabilities, which is further expected to provide avenues for MFD market growth. Presently, military requirements have extensively driven the development of electronic flight displays.
Additionally, the emergence of reflective micro-display technologies also provides market growth opportunities. The development of technologies such as synthetic vision systems and AMLCD (Active Matrix Liquid Crystal Display), may further spur multi-function display market growth. Multi-function displays enable the display of Doppler weather radar images without on-board weather radar and engine operation information. This can be attributed to technological proliferation and development for high-resolution graphics that are processed from ground-based radar and relayed using data-link networks. Software architecture development plays a key factor in driving market growth over the forecast period. However, declining defense budgets and the complexity of system architecture may pose a challenge to market growth.
R&D and innovation remain to be a key growth strategy in this industry. Key industry participants include Honeywell Aerospace, Rockwell Collins, Thales SA, Avidyne Corporation, and BAE Systems.
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The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.