Global Multi-function Display Market to Reach US$ 27.8 Billion by 2028, Fostered by Rising Demand Across Aviation Industry

April 04, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Multi-function Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global multi-function display market size reached US$ 16.4 Billion in 2022. A multi-function display (MFD) refers to a small screen that is designed to show a large number of different information and performance results to the user in various configurable ways. It consists of multiple configurable buttons or soft keys for display purposes. It is an avionic device that is used to manage and display information, such as the aircraft’s engine, navigation, and flight functions. MFDs display various information, including altitude, airspeed, vertical speed, heading, navigation data, weather information, and engine and system status. Some MFDs are also equipped with GPS and can display maps and charts, making it easier for the pilot to navigate and plan routes. It is often integrated with other avionics systems and can provide alerts and warnings when necessary. As a result, it is widely adopted in military aircraft, aviation, automotive, commercial aircraft, and shipboard. 

Global Multi-function Display Market Trends: 

The rising adoption of multifunction displays in the aviation industry is driving the global market. This can be attributed to the escalating demand for improved components of glass cockpits and advanced primary flight displays (PFD) in aircraft. Along with this, the rapid utilization of digital displays in the automotive industry is further catalyzing the market as it is widely used in modern car dashboards to provide drivers with a wealth of information in a single display, such as speed, fuel consumption, and navigation data. In line with this, the expanding usage of MFDs in marine applications, including fishing boats, commercial vessels, and pleasure craft to provide users with important data, such as water depth, fish location, and weather information, is augmenting the demand. Moreover, continuous developments in synthetic vision systems (SVS) that create virtual 3D images of terrain, and traffic information displays, are providing a boost to the market. Apart from this, the rising initiatives by the governments of several countries for the development of smart cities facilitating LED-based lighting retrofit projects are creating a positive market outlook. The market is further driven by the increasing adoption of multiple-function displays for ground control stations due to the growing illegal immigration on borders. Other factors, including a considerable rise in the demand for surveillance devices and extensive research and development (R&D) activities conducted by the leading players, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 27.8 Billion by 2028, exhibiting a growth rate (CAGR) of 9.0% during 2023-2028. 

Market Summary:

  • On the basis of the platform insights, the market has been divided into airborne, land, and naval. Currently, the airborne platform represented the largest market segment.
  • Based on the system insights, the market has been segmented into electronic flight displays (EFD), head-up displays (HUD), helmet-mounted displays (HMD), portable and flexible multi-function displays. Among these, electronic flight displays (EFD) exhibit a clear dominance in the market.
  • On the basis of the technology insights, the market has been bifurcated into LED, LCD/AMLCD, TFT, OLED, and synthetic vision. LED presently, accounts for the largest market share.
  • Based on the application insights, the market has been classified into commercial aerospace, military, and others. Currently, the commercial aerospace application is leading the market share.
  • On the basis of the regional insights, the market has been categorized into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Aspen Avionics Inc., Astronautics Corporation of America, Avidyne Corporatio, BAE Systems plc, Elbit Systems Ltd., Garmin Ltd, Honeywell International Inc, Raytheon Technologies Corporation, Samtel Group, Teledyne FLIR LLC (Teledyne Technologies Incorporated) and Universal Avionics Systems Corporation (Elbit Systems Ltd.).

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Platforms Covered Airborne, Land, Naval
Systems Covered Electronic Flight Displays (EFD), Head-Up Displays (HUD), Helmet-Mounted Displays (HMD), Portable and Flexible Multi-function Displays
Technologies Covered LED, LCD/AMLCD, TFT, OLED, Synthetic Vision
Applications Covered Commercial Aerospace, Military, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aspen Avionics Inc., Astronautics Corporation of America, Avidyne Corporatio, BAE Systems plc, Elbit Systems Ltd., Garmin Ltd, Honeywell International Inc, Raytheon Technologies Corporation, Samtel Group, Teledyne FLIR LLC (Teledyne Technologies Incorporated), Universal Avionics Systems Corporation (Elbit Systems Ltd.), etc.
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Global Multi-function Display Market to Reach US$ 27.8 Billion by 2028, Fostered by Rising Demand Across Aviation Industry
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