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. Increasing defense spending in the world and new technological developments to help strengthen military capabilities and efficiency is expected to drive the market for military displays across the globe. Increasing geopolitical tensions across regions and overall strengthening activities across the world is triggering the defense spending across these regions. This, in turn, is pushing manufacturers and system component providers to design and manufacture more high technology, high resolution, rugged and environmental resistance military displays.
The impact of COVID-19 supply chains across all regions.The defense industry saw production plants being shut down and logistical activities be shut down.
The program timeline of most major programs had been disrupted like temporary shutdown of the F-35 production sites in Japan and Italy in March 2020, and by April 2020, the US military officials suspended all travel, deployments, and exercises as it tried to handle situation.Though programs were able to recover, often in a matter of months, nearly USD 5 billion in federal aids and efforts to push money to suppliers were spent.
The industries in US spent around USD 10 billion to restructure production lines and build infrastructure for remote working.Small industries have all been drastically impacted by the pandemic with 1 in 7 companies expected to not be able to reach pre-pandemic levels.
Most key players in the military displays market like Lockheed Martin, Raytheon Technologies and BAE systems have declared that business has largely be returned to normal but acknowledged the impact of cost and schedules on most programs.
Based on end market, the land segment of the military displays market is projected to grow at the highest CAGR is expected to account for the largest market share during the forecasted period.
This growth is attributed to increase in demand for higher resolution displays at headquarters and command center.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
Based on Technology LCD makes the largest share of the market during the forecasted year. The requirement for the LCD display module is increasing because of the expanded assembling of electronic items such avionics cockpit shows, PC screens, LCD TVs, indoor and open air signs, and instrument boards. The structure of these military LCD panels uses high-strength components that can improve performance at high temperatures, shock-absorbing technology that prevents vibrations and shocks, and non-corrosive materials that can resist the effects of moisture and salt.
North America is projected to grow at the highest CAGR during the forecast period. The market in North America is estimated to record a CAGR of 5.7% during the forecast period. This market is led by the US, which is increasingly investing in Military displays to maintain its combat superiority and displays for monitoring their operations, identifying enemies, and many other tactical options. The US plans to increase its spending on the Military displays to gain a competitive edge over other country This region is expected to lead the market from 2021 to 2026, owing to increased investments and the adoption of advanced multifunctional displays in military technologies by countries in this region. The presence of prominent manufacturers and integrators of these military displays, including Lockheed Martin (US), Northrop Grumman (US), L3Harris Technologies, Inc. (US), and Raytheon Technologies (US), is also expected drive the market in the region over the forecast period. .
The break-up of profile of primary participants in the military displays market: • By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14% • By Designation: C Level – 55%, Director Level – 27%, and Others – 18% • By Region: North America – 55%, Europe – 27%, Asia Pacific – 9%, RoW – 9%
Major players operating in the Military Displays Market include Raytheon Technologies (US), Lockheed Martin Corporation (US), Elbit Systems (Israel), Bae Systems (US).
Research Coverage: This research report categorizes the Military displays Market by End Market (Land, Airborne, Naval), Technology (LED, LCD, OLED, AMOLED), Type (Smart Displays, Conventional Displays), Panel Size (Microdisplays, Small & Medium Sized Panels, Large Panels), Product Type (Handheld, Wearables, Vehicle Mounted, Simulators, Computer Displays).) in these segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East and Latin America. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Military displays market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the Military displays market.
Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Military displays and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on Military displays offered by the top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Military displays market • Market Development: Comprehensive information about lucrative markets – the report analyzes the Military displays market across varied regions • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in Military displays market • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the Military displays market
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