Multifunction Display (MFD) Market - Global Industry Analysis, Size, Share, Growth, Trend, and Forecast 2016 - 2024
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Multifunction displays (MFD) is a small liquid crystal display (LCD) or cathode ray tube (CRT) screen that contains multiple soft buttons through which user receives information in several configurable ways. Multifunction displays (MFD) find its application across various military aircraft, modern vehicles and others to navigate direction, status information as well as for various entertainment purposes. Thus, MFD improve accuracy and functionality of various application segments provide enhanced safety and awareness to all kinds of users. By 2020, the aviation industry is expected to capture a huge share of the Multifunction displays market globally.
Implementation of Blue Ocean strategy is considered to be an important factor predicted to drive the market of Multifunction displays (MFD) during the forecast period from 2016 to 2024. MFD market adopt the Blue Ocean strategy because the strategy provides a market place which is free from rivals and competition. Thus, it helps the producers of this market to produce unique products at low cost and earn profit in a lucrative manner. Moreover, rising demand for auto-pilot landing systems is also anticipated to trigger the demand of Multifunction displays (MFD). It is because MFD are used in modern auto-pilot landing system to help the pilot to land safely in limited visibility and adverse weather conditions. In addition, increasing demand of aircraft deliveries also predicted to increase the demand for Multifunction displays (MFD) owing to its extensive use in modern aircrafts. Military sector uses MFD because it consumes less time and space in cockpit to provide information to the pilot regarding navigation route, weapon seeker, weather radar, and other airport information. Therefore, growing requirements in the military sector further boost the demand for electronic flight instruments that consist of Multifunction displays.
However, installation of Multifunction displays in auto-pilot landing system increases the overall production cost. This in turn is anticipated to deter the demand of MFD, there by affecting the market negatively. Moreover, helmet mounted display (HMD) consists of Multifunction displays which allows pilot to receive information regarding airspeed, target range, weapon seeker, altitude, and others via sensors, thus, eliminating the need of manual operation. Thus, critical production structure of HMD reduces its demand, which in turn also reduces the demand for Multifunction displays.
Global MFD market can be segmented on the basis of type, size and application. Based on type the market can be categorized into Helmet mounted display (HMD), Heads-up display (HUD), Electronic flight display (EFD) and Portable Multifunction displays. On the other hand, by size, the Multifunction displays market can be segmented into less than 5”, 5”-10”, and 10”-15”. Rise in demand of augmented reality (AR) in turn is expected to increase the demand for HUD at an exponential rate in the coming years.
By technology, multi-function displays market can be bifurcated into synthetic vision system, light emitting diode (LED), liquid crystal display (LCD), Active Matrix Liquid Crystal Displays (AMLCD), Organic Light Emitting Diodes (QLED), and Thin film transistor (TFT). Based on technology, the Multifunction displays market is majorly driven by LEDs, Synthetic Vision Systems, and AMLCDs among others. LED technologies are mainly used in the aviation sector because of better performance over fluctuating light levels, reliability, and temperature.
By geography, Multifunction displays (MFD) market is segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). Geographically, North America held the largest market share of MFD market owing to robust investment in research and development in the field of technology. However, Asia Pacific region is anticipated to witness the fastest growing market during the forecast period from 2016 to 2024.
Some of the major players operating in the Multifunction displays (MFD) market includes Garmin Ltd (U.S), Thales SA (France), Rockwell Collins (U.S.A), Honeywell Aerospace (U.S), and SAAB AB (Sweden), Universal Avionics Systems (U.S), DeihlAerosystems (Germany) , Garmin (U.S), L-3 Communications (U.S), BAE Systems (U.K), Esterline technologies (Washington) , Barco N.V (Belgium), Samtel Group (India) and others.
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