According to the latest report “Head-Up Display (HUD) Market: By Technology (CRT, Micro Electro-Mechanical System, Optical Waveguide); By Components (Video Generator, Projectors, Others); By Application (Aviation, Automotive) and By Geography – Forecast (2017-2023)” published by IndustryARC, estimates the market estimated to reach $2,154m by 2023.
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Head-Up Displays are the vital components in the aircrafts and vehicles which highlight critical information such as speed, collision detail, warning signals in front of the user’s viewpoint. According to recent report by IndustryARC, the head-up display market is estimated to grow at a CAGR of 15.47% and projected to reach $2,154m by 2023. According to the report, the market is boosted owing to high investment on military aircrafts in the developing economies as well as developed economics for obtaining their strategic goal in terms of security. The prime factor for this trend is attributed by the rising conflict between different nations and goal of gaining a military superiority across the globe. Hence, aviation and automotive industry has market share of 46% and 54% respectively in the head-up display market.
In aeronautics engineering field, Head-Up Displays were developed and designed to provide pilots the ability to visualize aircraft specific data on an aircraft’s windshield. Apart from aerospace and defense industry, these technology is applied in a variety of fields including gaming gadgets, for augmented reality applications and for assisting drivers in vehicles. Owing to this factor, key automotive players are implementing advanced technologies such as advanced driver assistance systems and many others in the passenger as well as luxury cars. Thus, due to this trend the automotive industry has generated maximum revenue in 2016 for head-up display market.
The market has been segmented into North America, Asia-Pacific (APAC), Europe and Rest of the World (RoW) on the basis of geography. Deployment of head-up displays for military simulation training along with reduction of flight collisions has propelled the growth of the market in these regions. Europe has generated highest revenue in 2016 and will remain dominant by 2023, expected to grow at a CAGR of 16.57% during the forecast period.
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The Key Players in this Market Include:
- BAE Systems, Inc.
- Continental AG
- Nippon Seiki CO., LTD.
- Denso Corporation
- Rockwell Collins
BAE Systems Inc., and Continental AG, are the two major companies for Head-Up Display market and contributed a market share of around 33% in 2016 for the global market space. Other companies predominant in Head-Up Display market are Nippon Seiki CO., LTD., Denso Corporation and Rockwell Collins, and among others. These companies trying to lead their position in the market with respect to revenue generation and as they are investing in R&D for innovating advanced technologies. Product launches, mergers, acquisitions, partnership and collaboration are the crucial growth strategies adopted by the key players in the industry who are trying to increase their market share.
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