Multi-Function Display Market Size, Share & Trends Analysis Report By Devices (Helmet Mounted Display (HMD), Heads Up Display (HUD), Electronic Flight Display (EFD)), By Displays (LED, LCD, Active-matrix Liquid Crystal Display (AMLCD), Organic Light Emitting Diode (OLED)), By End-Users (Commercial, Land, Airborne, Naval, Military) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global multi-function display market share is registering a CAGR of 11.7% during the forecast period (2023-2031). The growing demand for ground control stations and increased aircraft orders drive the multi-function display market growth.

Multi-Function Displays (MFDs) are multifunctional electronic devices or screens that combine several functions and data into a single display interface. MFDs are utilized in various industries, including aviation, defense, automotive, marine, industrial, and consumer electronics. They are critical in facilitating user access to information, increasing situational awareness, and improving decision-making processes.

Increasing aircraft demand, rising levels of investment in developing advanced and improved technology, system efficiency, and expanding ground control stations will likely boost the growth of the multi-function display market share during the forecast period. On the other hand, rising applications from the automotive industry and adopting microdisplay technology will further increase numerous prospects, expanding the multi-function display (MFD) market over the projection period. However, declining defense budgets and product life cycles are market restrictions for multi-function displays (MFD).

Market Dynamics

Market Drivers

Increasing Demand for Situational Awareness

The ability to notice, grasp, and make educated judgments based on a thorough comprehension of one's environment and pertinent information is referred to as situational awareness. There is an increasing demand for improved situational awareness in aviation, military, and automotive areas. MFDs provide customers with real-time data and information from various sources, allowing them to make more educated decisions. The desire to improve pilot situational awareness drives the demand for MFDs in the aviation industry. Modern airplanes are outfitted with sophisticated avionics systems, including MFDs in the cockpit. These displays give pilots an integrated view of flight data, navigation information, weather conditions, traffic, and system status. The International Air Transport Association (IATA) predicted that worldwide passenger numbers would exceed 8.2 billion by 2037, emphasizing the importance of MFDs in guaranteeing safe and efficient air travel.

MFDs are employed in command and control centers, military vehicles, aircraft, and naval vessels during military operations. They combine data from numerous sensors, communication systems, and surveillance equipment to give commanders and operators a real-time picture of the battlefield. Global defense spending is still significant, with several countries investing in advanced technologies, such as MFDs, to improve situational awareness and mission capabilities. For example, the United States Department of Defense budget contains funds for updating situational awareness systems. As a result, the Multi-Function Display market trend is likely to expand further as industries continue to value situational awareness.

Market Restraints

Data Security Concerns

In crucial areas such as aviation, military, industrial automation, and healthcare, MFDs frequently handle sensitive data. It isn't easy to ensure data security on these devices. Data breaches and cyberattacks can have serious implications, such as disrupted mission-critical activities, the loss of sensitive information, and dangers to safety and privacy. MFDs are used in military and defense operations to show classified information, real-time intelligence, and tactical data in command and control centers, military vehicles, and aircraft. Any security breach or illegal access to these systems could jeopardize national security. According to a Deloitte report, cyber-attacks are an increasing worry in defense operations, with nations and organizations investing extensively in cybersecurity measures to secure sensitive data displayed on MFDs and other important systems.

MFDs in airplane cockpits also display flight data, navigation information, and communication systems. These systems must be guarded to prevent illegal access, which could jeopardize flight and passenger safety. To safeguard the safety and integrity of air travel, the Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA) have strict cybersecurity standards for avionics systems, including MFDs.

Market Opportunity

Emerging Technologies and Innovations

The ongoing development of new display technologies and innovations gives tremendous potential for MFD producers to develop cutting-edge solutions that meet changing client demands. These developing technologies can improve user experiences and open the door to new applications across sectors. Curved or foldable MFD designs are possible with flexible OLED (Organic Light-Emitting Diode) screens. These displays can be integrated into wearables, vehicle, and aircraft interiors to provide versatile and space-efficient displays.

 Whereas Transparent displays can allow information to be superimposed on the user's perspective of the real environment. This technique has applications in automobile and aviation heads-up displays (HUDs) and augmented reality (AR) glasses. Furthermore, AR MFDs superimpose digital information onto the user's field of view, improving situational awareness. They are utilized for pilot aid in aviation, maintenance, and training in industrial applications. As a result, by staying ahead of technology improvements, MFD producers may differentiate their goods, satisfy increasing client wants, and tap into emerging markets in various industries.

Regional Analysis

The global multi-function display market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global Multi-Function Display market shareholder and is estimated to grow at a CAGR of 4% over the forecast period. North America is expected to have a big market share due to the early adoption of modern technology for aircraft-based electronic devices and increased demand for LED displays among a large population in this region aware of energy saving. North America is projected to dominate the industry because of significant players such as Rockwell Collins and Honeywell Corporations. The region's market growth is attributable to the region's high adoption of multi-function displays in military and commercial aircraft. According to the Federal Aviation Administration (FAA), North America has one of the largest commercial aircraft fleets in the world. This demonstrates the high need for MFDs in the aviation industry.

Furthermore, MFDs are being integrated into current automobiles by North American automakers to give drivers digital instrument clusters, entertainment systems, and navigation displays. These screens provide real-time information on speed, fuel economy, entertainment, and safety functions. The United States, in particular, has one of the world's largest car marketplaces. The use of MFDs in vehicles helps to the overall growth of the North American MFD market. The North American MFD market, on the other hand, is highly competitive, with both established businesses and new entrants battling for market share. The competition encourages product development and innovation.

Europe is anticipated to exhibit a CAGR of 4.3% over the forecast period due to the rising use of displays for military purposes in numerous countries. The presence of significant Multi-Function Display manufacturers such as Thales Group and BAE Systems is projected to fuel the market expansion in this area. Airbus and Dassault Aviation, two of Europe's leading aerospace companies, equip their commercial and military aircraft with modern MFD systems. Critical flight data, navigation information, weather updates, and engine diagnostics are all displayed on these MFDs. Europe is a key aerospace manufacturing and innovation center. For example, Airbus, headquartered in Toulouse, France, is one of the world's leading aircraft manufacturers, fueling regional demand for MFDs.

Furthermore, MFDs are used in European manufacturing, energy, and pharmaceutical industries for process control, monitoring, and data visualization. These displays improve operating efficiency and contribute to Industry 4.0 objectives. According to Multi-Function Display market insights, the region's aerospace and automotive industry supremacy promises a high demand for MFDs.

The market in Asia-Pacific is expected to increase at a rapid CAGR due to rising defense spending among developing nations such as India and China due to geopolitical concerns in the region. However, India is emerging as the fastest-growing market over the same period due to rapid growth in the commercial aircraft sector. 

Segmental Analysis

The global multi-function display market is segmented based on devices, displays, end-users, and regions.

Devices are further segmented into Heads Up Displays, Helmet Mounted Displays, and Electronic Flight Displays.

Electronic Flight Display devices account for the largest share of the market. Electronic Flight Displays (EFDs) are multi-function displays (MFDs) specifically built for aviation purposes, functioning as primary or backup flight instruments in aircraft cockpits. They are designed to replace traditional analog gauges and give pilots a full view of flight data, navigation information, and system status. Because of the rapid manufacturing of novel integrated LED and LCDs, the EFD category will dominate the market in the next years. EFD is a system that displays flight data electronically rather than electromechanically.

Heads-Up Displays information directly onto a transparent surface, generally essential data, pictures, or navigation directions, allowing users to access information without glancing away from their primary line of sight. HUDs are extensively employed in automotive and aviation applications to provide critical data to drivers and pilots without distracting their attention from the road or sky.

Displays can further bifurcate the segment into LED, LCD, Active-matrix Liquid Crystal Display, and Organic Light Emitting Diode.

LED displays led the market forward. LED displays generate images and text on the screen by using light-emitting diodes. They are well-known for their high brightness, low energy consumption, and long lifespan. LED displays are commonly used in various applications such as consumer electronics, signage, and MFDs. The LED category is expected to account for a large market share in the next years due to its increasing use in display manufacturing. It offers numerous advantages such as energy efficiency and low cost.

When an electric current is applied to organic compounds, they emit light. They are well-known for their superior color accuracy, excellent contrast ratios, and slim form factor. OLED displays are gaining popularity in consumer electronics and high-end MFDs. The OLED-based technology gives users a crisp image of their targets, requires minimal maintenance, and can be used on various displays.

Based on end-user, the market is fragmented into Land, Airborne, Naval, Commercial, and Military.

The land is the major end-user of the market. Land-based end-users include terrestrial vehicles, industrial machinery, and fixed installations. These applications use land-based MFDs to show crucial information, regulate processes, and improve situational awareness. Because of the rising deployment of multi-function displays for land-based military objectives, the land segment is expected to dominate the market over the forecast years. 

Airborne systems include industries and applications that operate in the air, such as aviation and aerospace. Airborne MFDs are crucial components of airplanes, helicopters, and drones, delivering real-time flight data, navigation information, and mission-critical data to pilots and operators. Due to increased demand for aircraft for both military and commercial purposes, the airborne segment is expected to account for a significant proportion of the market in the future.

Recent Developments

• August 2023- Adventure Pilot of McKinney, Texas, recently upgraded its highly-capable iFLY EFB (Electronic Flight Bag) App to version 12.2, providing full compatibility with Avidyne's IFD-Series FMS/GPS/ NAV/COMs.
• September 2023- BAE Systems and Malloy Aeronautics showcased the T-600 heavy lift uncrewed air system (UAS) capabilities at a significant NATO exercise in Portugal to integrate the most advanced maritime technologies across partner forces.