Global Aerospace Helmet Mounted Display Market is expected to register CAGR of 12.36% during the forecast period 2020–2025. The report offers an in-depth overview of the industry, including production, manufacturers, price, consumption, growth rate, profit margins, supplies, imports and exports, and technological developments. The report also analyzes the COVID-19 impact on the global aerospace helmet mounted display market.
The aerospace helmet mounted display is a device that displays targeting and aircraft performance information, such as airspeed and altitude, directly to the pilot. A helmet mounted display is used to improve pilots’ situational awareness. Typically developed for bomber, fighter, and other combat aircraft, the application of this equipment is integrated into commercial fixed-wing and rotary-wing aircraft as well as in commercial jets. The integration of night vision systems and the focus on developing lightweight systems are the dominant trends in the global market for aerospace helmet mounted display systems.
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Factors such as rising adoption of AR technology in the aviation sector and increasing military spending, along with growing demands for combat aircraft, are crucial factors driving the global aerospace helmet display market. Meanwhile, issues related to cognitive tunneling and increased use of drones are expected to impede the market growth. Nevertheless, the growing evolution of modern warfare, from weapon-centric to technology-centric, provides exciting market opportunities for market development.
The major participants in the Global Aerospace Helmet Mounted Display Market are Collins Aerospace (US), Raytheon Company (US), L3 Technologies Inc. (US), FLIR Systems (US), ASELSAN A.Ş, (US), BAE Systems plc (UK),Harris Corporation (US), Kopin Corporation (US), Thales Group (France), and Elbit Systems Ltd (Israel).
The global market for aerospace helmet mounted display has been segmented based on components, technology, application, and region.
Based on component, the global market for aerospace helmet mounted display has been segmented into processor and memory, controller, sensor, display, lens, and others. The display segment had the largest market share of 25.37% in 2020 and held a valuation of USD 173.5 million, which is expected to be 13.46% CAGR over the forecast period.
Based on technology, the global market for aerospace helmet mounted display has been segmented into augmented reality and virtual reality. The virtual reality segment is projected to hold a significant market share over the forecast period.
Based on the application, the Global Aerospace Helmet-Mounted Display Market for has been segmented into military and non-military. In 2020, the military segment accounted for the largest market share of 75.23% and held a valuation of USD 514.4 million, which is expected to be 12.72% CAGR during the forecast period. The increase in demand for military spending by the various governments of countries is driving market growth around the globe.
Covid-19 Analysis /Covid-19 Impact on the Global Aerospace Helmet Mounted Display Market
COVID-19 (Coronavirus) pandemic has forced many companies in the aerospace helmet mounted display market to halt their operations in accordance with new government decisions. This hiatus in operations has a direct impact on the cash flow of the aerospace helmet mounted display market.
The global market for aerospace helmet mounted display has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
In 2020, the global aerospace helmet mounted display market was led by North America with a share of 33.45%, followed by Europe and Asia Pacific with shares of 27.08% and 25.45%, respectively.
The Asia Pacific is becoming a lucrative region for companies providing aerospace helmet displays due to large investment in the defense sector and demand from countries such as China, India, and South Korea.
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