An aerospace helmet-mounted display is an equipment that displays targeting and aircraft performance information, such as airspeed and altitude, directly to the pilot. A helmet-mounted display is used to enhance the situational awareness of the pilots. Typically developed for fighter, bomber, and other combat aircraft, the application of this equipment is being incorporated in commercial fixed-wing and rotary-wing aircraft as well as in business jets. Integration of night vision systems and focus on developing lightweight systems are the dominating trends in the global aerospace helmet-mounted display systems market.
Factors such as increasing adoption of AR technology in the aviation sector and rising military spending, along with the rising demand for combat aircraft, are the key factors driving the global aerospace helmet mounted display market. Meanwhile, issues associated with cognitive tunneling and increased use of drones hinder market growth. However, the changing nature of modern warfare, from being weapon-centric to technology-centric, offer promising growth opportunities to the market.
The global aerospace helmet mounted display market has been segmented based on component, technology, application, and region. In terms of component, the display segment accounted for the largest market share of 25.37% in 2018, with a market value of USD 173.5 million, which is projected to witness 13.46% CAGR during the forecast period. In terms of technology, the conventional technology segment accounted for the largest market share of 82.44% in 2018, with a market value of USD 563.7 million, which is projected to witness 11.50% CAGR. Based on application, the military segment accounted for the largest market share of 75.23% in 2018, with a market value of USD 514.4 million, which is projected to witness 12.72% CAGR during the forecast period.
The global aerospace helmet mounted display market is segmented based on component, technology, application, and regions. Based on technology, the global market has been divided into augmented and virtual reality. The virtual reality segment is expected to hold a significant market share during the forecast period. Based on application, the global market has been bifurcated into military and non-military. The military segment is expected to grow with the highest CAGR during the forecast period. The rise in demand for military spending by various governments of countries is propelling the growth of the market across the globe.
The global aerospace helmet mounted display market is estimated to witness 12.36% CAGR during the forecast period, 2019–2025. In 2018, the market was led by North America with a 33.45% share, followed by Europe and Asia-Pacific with shares of 27.08% and 25.45%, respectively. Asia-Pacific is becoming a lucrative region for firms that provide aerospace helmet-mounted displays, due to the significant spending in the defense sector and demand from countries such as China, India, and South Korea.
The Key Players in the Global Aerospace Helmet Mounted Display Market are Raytheon Company (US), Collins Aerospace (US), L3 Technologies Inc. (US), Harris Corporation (US), FLIR Systems (US), ASELSAN A.Åž, (US), BAE Systems plc (UK), Kopin Corporation (US), Thales Group (France), and Elbit Systems Ltd (Israel).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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Frequently Asked Questions (FAQ) :
A 7.7% CAGR is projected to strengthen the market in the approaching period.
Raytheon Company (US), Collins Aerospace (US), L3 Technologies Inc. (US), Harris Corporation (US), FLIR Systems (US), ASELSAN A.Åž, (US), BAE Systems plc (UK), Kopin Corporation (US), Thales Group (France), and Elbit Systems Ltd (Israel).
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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