Multi-function Display Market

Global Multi-function Display Market:

The global multi-function display market size reached US$ 17.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 36.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.82% during 2024-2032. Continual technological advancements in system efficiency and automation, an increase in the number of ground control stations, and the rising demand for aircrafts with superior features, represent some of the key factors driving the market.

Multi-function Display Market Analysis:

• Major Market Drivers: The rising number of heads-up displays (HUD), electronic flight displays, head-mounted displays (HMD), and portable multi-function display installations is a significant factor driving the market growth. Moreover, an increase in the number of ground control stations on the global level is propelling the multi-function display market demand.
• Key Market Trends: The escalating demand for improved components of glass cockpit and advanced primary flight display (PFD) in aircraft is proliferating the multi-function display market’s growth. Additionally, numerous innovations in advanced sensor systems and capacitive touchscreen panels, along with an increased uptake of smart devices, are creating a positive outlook for the market.
• Competitive Landscape: Some of the prominent multi-function display market companies include Aspen Avionics Inc., Astronautics Corporation of America, Avidyne Corporation, 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.), among many others.
• Geographical Trends: According to the multi-function display market dynamics, North America was the largest market for multi-function displays. The shift toward connected cars and the growing penetration of electric vehicles (EVs) in the region is accelerating the demand for MFDs in the automotive industry.
• Challenges and Opportunities: The high development costs of MFDs and the rising cybersecurity risks are hampering the market’s growth. However, the rise of electric vehicles (EVs) and autonomous driving technologies offers a significant growth multi-function display market recent opportunities for manufacturers. MFDs are essential for EV dashboards, battery monitoring, navigation, and infotainment, as well as autonomous driving interfaces.
   

Multi-function Display Market Trends:

Rising Adoption of Electric Vehicles

The increasing adoption of electric vehicles (EVs) is a significant driver of growth for the multi-function display (MFD) market. For instance, according to IEA, almost 14 million new electric cars were registered globally in 2023, bringing the total number on the road to 40 million. Electric car sales in 2023 were nearly 3.5 million greater than in 2022, representing a 35% year-on-year growth. MFDs in EVs are used to communicate real-time data such as battery levels, energy consumption, range estimation, charging status, and regenerative braking information. These factors are expected to propel the multi-function display market share in the coming years.

Increased Demand for Plant-Based Ingredients

Governments of various regions are increasing their defense budgets, driving demand for advanced MFDs. For instance, according to the U.S. Congressional Budget Office, defense spending would reach US $1.1 trillion by 2033. The budget for the U.S. Air Force in 2024 was about US $260 billion. MFDs are increasingly being used in military command and control centers, where they consolidate data from various sources such as satellites, reconnaissance aircraft, ground troops, and other assets. These factors further positively influence the multi-function display market forecast.

Technological Innovations

Innovations in OLED, LCD, and other display technologies are improving the performance and efficiency of MFDs. For instance, in January 2024, Samsung Electronics introduced the latest QLED, MICRO LED, OLED, and Lifestyle display lineups ahead of CES 2024. In addition to superior picture and sound quality, the new ranges offer consumers AI-powered features protected by Samsung Knox, with an emphasis on inspiring and empowering individual lifestyles. Higher resolutions, better brightness, durability, and superior picture quality make MFDs more attractive across industries, thereby boosting the multi-function display market revenue.

Global Multi-function Display Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global multi-function display market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on platform, systems, technology, and application.

Breakup by Platform:

• Airborne
• Land
• Naval
   

Airborne represented the largest segment

The report has provided a detailed breakup and analysis of the multi-function display market based on the platform. This includes airborne, land, and naval. According to the report, airborne represented the largest segment.

According to the multi-function display market outlook, airborne multi-function displays (MFDs) are driven by advancements in avionics technology, enhancing usability and safety. The need for improved situational awareness and real-time data integration in aircraft supports demand. Regulatory compliance also necessitates the adoption of modern displays. Increased defense spending and military modernization programs fuel upgrades in military aircraft, while growing commercial aviation propels the multi-function display market ‘s recent price advanced MFDs in passenger planes.

Breakup by Systems: 

• Electronic Flight Displays (EFD)
• Head-Up Displays (HUD)
• Helmet-Mounted Displays (HMD)
• Portable and Flexible Multi-function Displays
   

Electronic Flight Displays (EFD) represented the largest segment

The report has provided a detailed breakup and analysis of the multi-function display market based on the systems. This includes Electronic Flight Displays (EFD), Head-Up Displays (HUD), Helmet-Mounted Displays (HMD), and Portable and Flexible Multi-function Displays. According to the report, Electronic Flight Displays (EFD) represented the largest segment.

According to the multi-function display market overview, innovations in display technology, such as high-resolution screens, touchscreen interfaces, and synthetic vision systems, enhance user experience and functionality, driving demand for EFDs. Moreover, EFDs improve situational awareness by integrating critical flight data, reducing pilot workload, and enabling more informed decision-making, which is crucial for both commercial and military aviation. Besides this, aviation authorities increasingly mandate advanced display systems for new aircraft and upgrades, creating a need for EFDs that meet these evolving standards.

Breakup by Technology:

• LED
• LCD/AMLCD
• TFT
• OLED
• Synthetic Vision
   

LED represented the largest segment

The report has provided a detailed breakup and analysis of the multi-function display market based on the technology. This includes LED, LCD/AMLCD, TFT, OLED, and synthetic vision. According to the report, LED represented the largest segment.

LEDs are energy-efficient, offering longer lifespans and lower power consumption compared to traditional displays. The growing demand for real-time data presentation and user-friendly interfaces further fuels the adoption of LED MFDs. Additionally, advancements in LED technology, such as improved color accuracy and flexibility in design, contribute to their dominance in the market, catering to the needs of various industries.

Breakup by Application:

• Commercial Aerospace
• Military
• Others
   

Commercial aerospace accounted for the largest market share

A detailed breakup and analysis of the multi-function display market based on the application has also been provided in the report. This includes commercial aerospace, military, and others. According to the report, commercial aerospace accounted for the largest market share.

MFDs provide real-time data on flight performance, navigation, and systems status, improving situational awareness for pilots and enhancing safety. Moreover, stricter regulations regarding flight data monitoring and cockpit technology push airlines to upgrade to advanced MFD systems. Besides this, MFDs can also support in-flight entertainment and information systems, improving the overall passenger experience.

Breakup by Region: 

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America was the largest market for multi-function display

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for multi-function display.

According to the multi-function display market statistics, some of the factors driving the North America multi-function display market include the presence of several key players, rapid industrialization, increasing adoption of micro display technology in the automotive industry, etc. Continuous innovation in display technologies, including improvements in resolution, touch functionality, and interface design, enhances user experience and drives the demand. Moreover, the increasing adoption of advanced driver-assistance systems (ADAS) and infotainment systems in vehicles is driving the demand for multi-function displays that integrate navigation, entertainment, and vehicle information.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: 

• Aspen Avionics Inc.
• Astronautics Corporation of America
• Avidyne Corporation
• 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.)
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Multi-function Display Market Recent Developments:

• September 2024: Collins Aerospace received the first FAA Technical Standard Order (TSO) certification for a fully functional multi-core processor as part of its multi-function display.
• July 2024: Aspen Avionics collaborated with Electronics International to create engine monitoring for Aspen's Evolution multi-function displays.
• May 2024: Furuno launched 22-inch and 24-inch MFD screens. The new MFDs allow fishermen to update their electronics visualization on a screen that contains various innovations, including a powerful new processor built into the screen itself, new functionalities such as AI Routing, radar target avoidance (Risk Visualiser), and low-cost charts.

Multi-function Display Market Report Scope:

Key Questions Answered in This Report:

• How has the global multi-function display market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global multi-function display market?
• What are the key regional markets?
• Which countries represent the most attractive multi-function display markets?
• What is the breakup of the market based on the platform?
• What is the breakup of the market based on the systems?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the application?
• What is the competitive structure of the global multi-function display market?
• Who are the key players/companies in the global multi-function display market?

Key Benefits for Stakeholders:

• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the multi-function display market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global multi-function display market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the multi-function display industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.