Multi-Function Display Market set to reach USD 37.12 Billion by 2032 due to growth drivers
From GlobeNewswire: 2025-01-13 08:00:00
The Multi-Function Display Market was valued at USD 18.7 Billion in 2023, set to reach USD 37.12 Billion by 2032 with a CAGR of 7.95%. Advanced technology adoption in aerospace and automotive sectors is driving growth, with MFDs combining multiple functions for improved decision-making. Sample report available for forecast.
Key players in the market include Honeywell, Rockwell Collins, Thales Group, and more, offering products like Primus Epic and Pro Line Fusion. The role of MFDs in enhancing safety and efficiency across sectors is crucial, with aviation, automotive, and naval industries utilizing MFDs for improved operations.
In 2023, Electronic Flight Displays led the market with 42% revenue share due to their impact on aviation’s situational awareness. Heads-up Displays are expected to see the fastest growth, enhancing pilot visibility and safety. The Land segment dominated the market, while the Airborne segment is projected to grow rapidly from 2024 to 2032.
LEDs held the largest market share in 2023 at 38%, favored for their brightness and energy efficiency. OLEDs are expected to grow rapidly for their superior imaging qualities. North America leads the MFD market, driven by advanced aerospace and defense sectors, while the Asia Pacific region shows the fastest CAGR due to industrialization and smart vehicle adoption. MFD technology adoption in automotive industries, particularly in China and Japan, will drive significant growth in the region with a focus on smart vehicles and automation. Honeywell has been selected by MDA Space Ltd. to provide satellite Attitude Control System products for Telesat’s LEO constellation, showcasing innovation in the expanding satellite industry. The Multi-Function Display Market Report includes key points analysis, market dynamics impact, statistical insights, competitive landscape, market segmentation, regional analysis, company profiles, and more. SNS Insider, a leading market research and consulting agency, aims to provide clients with the knowledge they need to make informed decisions in a changing market landscape.
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