PUBLISHER: The Business Research Company | PRODUCT CODE: 1644007
PUBLISHER: The Business Research Company | PRODUCT CODE: 1644007
Military displays are specialized visual interfaces designed to meet the rigorous demands of defense operations. These displays are integral to various military applications, providing real-time data visualization for command and control, navigation, surveillance and training purposes.
The military displays market consists of sales, by entities (organizations, sole traders and partnerships) of military displays that are visual interfaces manufactured using advanced processes to ensure durability and reliability under extreme conditions. These displays are engineered to withstand harsh environments, including exposure to extreme temperatures, vibrations and moisture. They are often equipped with features such as night vision compatibility, touchscreens and high-resolution imaging to meet the specific needs of military operations.
The global military displays market was valued $1,003.26 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.00%.
Increased Defense Budgets
Increased defense budgets fueled the growth of the military displays market during the historic period. Defense budgets represent the financial resources allocated by governments to support their military operations, including the acquisition of equipment, payment of personnel, funding of research and development and maintenance of defense infrastructure. The increase in defense budgets is driven by several factors, including rising geopolitical tensions that demand enhanced military readiness, the ongoing modernization of defense equipment to keep up with technological advancements and the necessity to counter emerging threats, such as cyber warfare, terrorism and regional conflicts. Military displays contribute to defense spending, by offering advanced technologies that improve situational awareness, support better decision-making and facilitate effective communication across combat and command settings, enhancing the overall efficiency and effectiveness of military operations. For instance, in April 2024, according to 2023 report published by the Ministry of Defense, a UK-based government ministry, in both 2022 and 2023, the UK government allocated £2.3 billion ($2.89 billion) in military support, with an increase to £2.5 billion (3.14 billion) planned for the following year, while defense spending rose from £52.8 billion ($66.25 billion) in 2022/23 to £54.2 billion ($68.00 billion) in 2023/24. Therefore, increased defense budgets drove the growth of the military displays market.
Innovative Avionics Displays Enhance Military Aircraft Efficiency And Situational Awareness
Major companies operating in the military displays market are focusing on developing innovative advancements such as avionics display systems, to enhance the military transport aircraft situational awareness, protection and communication capabilities for improved operational effectiveness. Avionics display system in the military provides advanced interfaces for displaying critical flight, navigation and mission data to enhance operational efficiency and situational awareness in military aircraft. For instance, in August 2024, the United States Air Force, a US-based air service branch of the United States Armed forces, launched the Special Mission Display Processor (SMDP) for the C-130J Super Hercules military transport aircraft. This features a large display, multi-mode color radar, digital maps and night vision capabilities, enabling effective operations in diverse conditions. Its integration with a tactical radio mesh enhances real-time communication and situational awareness, strengthening the aircraft's role in critical military missions.
The global military displays market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 21.01% of the total market in 2023.
Military Displays Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global military displays market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for military displays? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The military displays market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider military displays market; and compares it with other markets.