What is the Forecast for Military Displays Market?
The military displays market size has escalated significantly over the years. It is forecasted to rise from $1.23 billion in 2024 to $1.3 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. This surge in the historical period can be linked to an increased demand for rugged displays, focus on soldier modernization, adoption of training and simulation systems, rising cybersecurity concerns, and hike in global defense expenditure.
Going forward into the forecast period, the military displays market is projected to see strong growth, reaching $1.62 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The driving factors of this growth include a focus on energy-efficient displays, a surge in unmanned systems, development in human-machine interface (HMI), increase in urban warfare and close quarters operations, and the adoption of multi-function displays.
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What are the Key Drivers Behind the Military Displays Market Growth?
The increase in the use of drones in the armed forces is driving the growth of the military display market. Drones have become an integral part of the military due to their applications in surveillance, reconnaissance, and combat operations. These unmanned devices enhance operational capabilities, while reducing the risk to personnel. Military displays in drones provide real-time visual information, improving the situational awareness, target identification, and mission monitoring during operations.
How is the Military Displays Market Segmented?
The military displays market covered in this report is segmented as follows:
1) By Type: Smart Displays, Conventional Displays
2) By Technology: LED, LCD, AMOLED, OLED
3) By Computer Display: Micro-displays, Small And Medium-Sized Panels, Large Panels
4) By End Market: Naval, Airborne, Land
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Who are the Major Players in the Military Displays Market?
Key players in the military displays market include 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.
What are the Emerging Trends in the Military Displays Market?
Technological advancements are influencing the military display market significantly. Major companies are focusing on research and development for product innovations with better solutions to maintain their competitive edge. For example, in May 2022, L3 Harris Technologies introduced its advanced military display with an image intensification technology, the Fused Panoramic Night Vision Goggle (F-PANO), for clearer field vision.
Which Region Has the Largest Share in the Military Displays Market?
North America held the largest share in the military displays market in 2024, with Europe as the second-largest player. The report also covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What is the Definition of the Military Displays Market?
Military displays are high-tech electronic devices employed by the armed forces to provide critical monitoring operations during military activities. The size of such displays varies depending on their application, with larger displays intended for tactical operation centers.
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