Military Displays Global Market Report 2024

The spectrum of military displays, two primary categories prevail such as smart displays and conventional displays. Smart displays are instrumental in monitoring and facilitating advanced military operations. They encompass electronic devices featuring embedded processors, rugged LCD panels, and sealed switches, providing interactive computing capabilities in battlefield settings. Leveraging technologies like LED, LCD, AMOLED, and OLED, these displays come in various forms include micro displays, small to medium-sized panels, and large panels - catering to diverse end-users across naval, airborne, and land-based operations.

This report provides military displays market statistics, including military displays industry global market size, regional shares, competitors with a military displays market share, detailed military displays market segments, market trends and opportunities, and any further data you may need to thrive in the military displays industry. This military display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global military displays market has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed in the historical period can be attributed to several factors, including heightened demand for rugged displays, a concentrated effort on soldier modernization initiatives, the development of training and simulation systems, concerns surrounding cybersecurity, and the substantial increase in global defense expenditure.

The global military displays market is expected to see strong growth in the next few years. It will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. Anticipated growth in the forecasted period is linked to a concentration on energy-efficient displays, a notable rise in unmanned systems, advancements in human-machine interface (HMI) technologies, and the increasing relevance of urban warfare and close-quarters operations, alongside the utilization of multi-function displays. Significant trends projected for this period involve the integration of touchscreen technology, advancements in night vision display systems, a shift towards OLED and quantum dot displays, a heightened emphasis on cybersecurity in display systems, the innovation of ruggedized and sunlight-readable displays, and the development of flexible and curved display technologies.

The anticipated advancement of computing and connected devices in armed forces is poised to drive the growth of the military display market in the future. Various nations globally have intensified their focus on bolstering defense budgets to equip their militaries with connected devices and smart computing capabilities, aiming to modernize military operations and bolster national security. Military displays, integral components of these connected devices with smart functionalities, play a pivotal role in supporting military operations by providing essential visual information, heightening situational awareness, and enabling swift decision-making. For instance, as per the Armed Forces Communications and Electronics Association in July 2020, the expected doubling of connected devices in the US armed forces by 2023 compared to 2019 reflects the surge in new products and the escalating frequency of Internet of Things (IoT)-targeted attacks on the military, further fueling the growth of the military display market.

The burgeoning expansion of the military sector is anticipated to propel the growth of the military display market in the forthcoming years. Often referred to as the defense sector, the military domain encompasses institutions, organizations, and activities focused on a nation's defense and security. Military displays play a crucial role within this sector, offering vital visual information, enhancing situational awareness, and facilitating rapid decision-making processes. For instance, according to the Stockholm International Peace Research Institute's April 2023 report, global military spending surged by 3.7% to $2240 billion in 2022. This significant growth within the military sector acts as a driving force for the expansion of the military display market.

Technological advancements emerge as a prominent trend gaining traction within the military display market. Key players in this market segment concentrate on research and development endeavors to innovate products and devise superior solutions, aiming to solidify their market positions. For instance, L3 Harris Technologies, in May 2022, unveiled its cutting-edge military display - the Fused Panoramic Night Vision Goggle (F-PANO). This advanced system incorporates image intensification technology and thermal imagery to enhance visual imaging in low-light environments, offering clearer vision for operational use. Notably, the F-PANO enables swift threat assessment and engagement on the battlefield, boasting system communication capabilities that display Android Tactical Assault Kit (ATAK) information within the goggle's field-of-view.

Prominent players within the military display market are increasingly adopting a strategic partnership approach to explore the production of crucial guided weapon components. These strategic collaborations involve leveraging respective strengths and resources to achieve mutual benefits and success. For instance, in November 2023, Aerojet Rocketdyne Inc. announced a collaboration with the NIOA Group, focusing on Aerojet Rocketdyne's future assembly and manufacturing of rocket motors, boosters, and warheads for weapons. This partnership aligns with Australia's Guided Weaponry and Explosive Ordnance (GWEO) Enterprise, fulfilling vital munitions requirements and demonstrating NIOA Group's commitment to meeting Australia's armament needs.
In July 2022, Thales Group, a France-based manufacturer specializing in military displays, completed the acquisition of Advanced Acoustic Concepts, LLC, for an undisclosed sum. This strategic move by Thales aims to expand its engineering and manufacturing presence within the US military sector, enhancing its capabilities and teams based in the United States. Advanced Acoustic Concepts, LLC, based in the US, is known for its production of military equipment.

Major companies operating in the military displays market report are BAE Systems PLC, Lockheed Martin Corporation, Thales Group, L3Harris Technologies Inc., Elbit Systems Limited, General Digital Corporation, Aselsan AS, Curtiss-Wright Corporation, Advanced Embedded Solutions Limited, Crystal Group Inc., Hatteland Technology AS, Neuro Logic Systems Inc., Winmate Inc., CP Technologies LLC, Zmicro Inc., Xenarc Technologies Corporation, Leonardo SpA, Milcots LLC, Raytheon Technologies Corporation, Honeywell International Inc., Esterline Technologies Corporation, Saab AB, Barco NV, General Dynamics Corporation, Northrop Grumman Corporation, Garmin Ltd., FLIR Systems Inc., Vartech Systems Inc., Planar Systems Inc., EIZO Corporation, IEE Inc., Avidyne Corporation, AMLCD Inc.

North America was the largest region in the military displays market in 2023. Europe was the second-largest region in the military displays market. The regions covered in the military displays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the military displays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The military display market consists of sales of micro, small, and medium-sized military display panels for monitoring purposes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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