According to the International Air Transport Association (IATA), approximately 39,000 aircraft will be produced by 2027, out of which 17,000 will utilize the latest technology. Aircraft are nowadays equipped with head-up displays, which help pilots by displaying valuable and critical information pertaining to navigation and forward field view. The increase in the production of aircraft across the globe will boost the head-up display or HUD market, which is poised to attain a lucrative valuation of $2,327.6m by the end of 2024, growing at a profitable CAGR of 15.34% according to a latest market intelligence report by IndustryARC.
The HUD market research report titled, “Head-Up Display (HUD) Market: By Technology (CRT, LED, Micro Electro-Mechanical System, Optical Waveguide); By Level; By Components (Video Generator, Projector, Display Units, S/W, Combiner); By Application (Aviation, Automotive); By Geography - Forecast (2018-2024),” contains information about all the application segments of the HUD market along with the facts, figures, and statistics that will provide a clear idea about the dynamics of the market during the forecast period. Furthermore, it contains geographical analysis, which will provide a peek into the growth prospects in each region. The HUD market research report has also provides an analysis of the challenges, trends, and opportunities that will affect the industry in the upcoming years.
Head-Up Display Market: Geographical Analysis & Leading Segments
Europe had the maximum HUD market revenue of $377.2 million as of 2017. This was due to the booming automotive and aerospace industries in the U.K. and Germany. Automotive companies such as BMW, Mercedes, and Audi have created a substantial fraction of demand influx in the Europe HUD market. Furthermore, Italy is witnessing growth with deployment of technologically advanced products and a significant reduction in the prices of HUDs, which is fueling the HUD market in the region.
The key application segment in the HUD market is found to be the automotive industry. This is attributable to the fact that vehicles are nowadays equipped with HUDs as they provide drivers information on a transparent display in such a way that their focus remains on the road. According to the International Organization of Motor Vehicles Manufacturers, 97.3 million vehicles were produced in 2017. Furthermore, the production of vehicles will increase with the advent of electric vehicles, self-driving trucks, and semi-autonomous and autonomous vehicles. The increasing production of vehicles worldwide will create further demand for HUDs in the automotive industry.
Head-Up Display Market: Trends and Growth Drivers
· The Surge in Production or Import of Aircraft –
Developing economies are emphasizing on strengthening their defense with advanced military aircraft. This will further increase the production of aircraft, which will support the HUD market during the forecast period. For instance, India is poised to become the third largest aviation market globally by 2020. Furthermore, government agencies have projected requirement of 250 brownfield and green-field airports, according to Invest India, a government organization. The requirement generated from the augmenting number of passengers will also lead to a demand for more aircraft, which will further support the HUD market in India.
· Micro Electro Mechanical System to Witness Growth –
By technology, micro electro mechanical system equipped HUDs will observe substantial CAGR of 17.06% through 2024. This is because these systems are reliable and entail low investment for production. Furthermore, they are of miniature size, which will attract manufacturers to use the technology more during the forecast period.
Head-Up Display Market: Competitive Landscape
Some of the key companies, identified in the HUD market intelligence report, that are striving to capitalize on the customer-base are BAE Systems, Continental AG, Denso Corp., Nippon Seiki, Rockwell Collins, Thales Group, and others.
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What can you expect from the report?
The head-up display (HUD) market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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