Military Displays Market Worth $ 1.4 Billion By 2026
CHICAGO, September 17, 2021 / PRNewswire / – According to a research report “Military displays market by end market (land, airborne, naval), technology (LED, LCD, OLED, AMOLED), type, panel size (micro-displays, small and medium-sized panels, large panels), type of product and region – Global forecasts to 2026 “, Published by MarketsandMarkets ™, Military Display Market Size Expected to Grow by Estimated $ 1.1 billion in 2021 to reach $ 1.4 billion by 2026, at a CAGR of 4.9% over the forecast period. Rising geopolitical tensions and border disputes, especially in Asian countries, is another driver for military display products.
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On the basis of the end market, the land segment of the military displays market is expected to grow at the highest CAGR and represent the largest market share during the forecast period.
This growth is attributed to the increased demand for higher resolution screens at headquarters and in the command center. Military and other industries use screens to monitor their operations, identify enemies, and many other tactical operations. Displays are supposed to handle data quickly and efficiently, be stylish and small, and run smoothly in a harsh environment. The growth of the defense sector, as well as the high defense budgets of countries such as the United States, China, and Saudi Arabia, are some of the key factors driving the military displays market globally
Based on LCD technology made the largest share of the market during the expected year.
The requirement for the LCD display module is increasing due to the extensive assembly of electronic elements such as avionics cockpit shows, PC screens, LCD TVs, interior and exterior traffic signs and control panels. edge. The structure of these military LCD panels uses high strength components that can improve high temperature performance, shock absorption technology that prevents vibration and shock, and non-corrosive materials that can withstand the effects of moisture and salt.
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“North America is expected to grow at the highest CAGR during the forecast period. “
The market in North America is expected to register a CAGR of 5.7% during the forecast period. This market is led by the United States, which is increasingly investing in military screens to maintain combat superiority and screens to monitor their operations, identify enemies, and many other tactical options. US plans to increase spending on military screens to gain competitive advantage over other countries
This region is expected to dominate the market from 2021 to 2026, owing to increased investment and adoption of advanced multifunctional displays in military technologies by countries in this region. The presence of leading manufacturers and integrators of these military displays, including Lockheed Martin (US), Northrop Grumman (US), L3Harris Technologies, Inc. (US) and Raytheon Technologies (US) ), is also expected to stimulate the market in the region. over the forecast period.
The major players operating in the military displays market are Raytheon Technologies (US), Lockheed Martin Corporation (US), Elbit Systems (Israel), Bae Systems (United States). These key players offer military display products and strong distribution networks through North America, Europe, Asia Pacific, Middle East and Latin America.
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