Military Displays Market projected to reach $1.4 billion by 2026

Posted September 20, 2021 by sandeep_roy

The Military displays market size is forecasted to grow from an estimated USD 1.1 billion in 2021 to reach USD 1.4 billion by 2026, at a CAGR of 4.9% from 2021 to 2026.

The Global Military Displays Market is forecasted to grow from USD 1.1 billion in 2021 to reach USD 1.4 billion by 2026, at a CAGR of 4.9% during the forecast period. The rapidly evolving dynamics of the military displays market are ascribed to the varying geopolitical situations in economies across North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. The rising incidence of border disputes and terrorism in these regions also influences the demand for military displays products, services and solutions. Defense organizations and governments around the world are deploying high resolution displays products with an aim to obtain enhanced surveillance and situational awareness during combat scenarios.

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Based on End market, the Military displays market has been segmented into Land, Airborne and Naval segment. Military and other industries use displays for monitoring their operations, identifying enemies, and many other tactical operations. Displays are expected to handle data fast and effectively, be elegant and small, and operate smoothly in a hostile environment. The growing defense sector, along with the high defense budgets of countries such as the US, China, and Saudi Arabia, are some of the key factors driving the Military displays market worldwide. Naval military grade displays are widely used for surveillance & situational awareness, and electronic support measures (ESM); they include a range of naval laser warning (NLW) systems for submarine and surface vessels.

Based on technology, the military display market is segmented into OLED, AMOLED, LED, and LCD displays. Although LCD and OLED are fast gaining popularity in the military display technology market. Manufacturers are always innovating for smart lighting components with greater illumination, intensity, color, and energy efficiency technology. A recurrent challenge for display designers is to provide a big viewing area for customers while yet allowing military aircraft pilot to operate in a confined cockpit. Another challenge is to achieve a balance of brightness in the display so that it may be utilized in the dark while not revealing the soldier's position by projecting a bright light in his face. Growing use of advanced military rugged displays, as well as significant government investments, particularly in the defense sector, are driving market development.

Based on product type, the wearable segment of the military displays market is projected to grow at the highest while vehicle mounted segment is expected to account for largest market share during the forecasted period. This growth is attributed to increase in be fuelled by increased expenditure on troop upgrading projects and increased research and development efforts.

Based on panel size, the military display market is segmented into micro display, small and medium displays and large displays. The rugged display is utilized in a variety of industries, including chemical, military, and manufacturing. In the display business, the rugged display is a technologically enhanced display. The development of light emitting diode is the upcoming opportunity in the market.

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Issued By MarketsandMarkets
Country United States
Categories Aerospace , Defense , Reports
Tags military displays market
Last Updated September 20, 2021