Over the past few years, head-up display has evolved the bulky in-console navigation units. Initially the head-up displays were introduced for the military aircrafts, but now the OEMs and aftermarket manufacturers have introduced head-up display systems for the automobile market. Currently, the use of head-up displays is considered a luxury spec reserved for high-end vehicles only. However, the rapidly developing infotainment and navigation systems have made head-up displays a flagship in most automotive designs. Hence, the head-up display market is estimated to witness a steep growth during the forecast period.
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| Head-Up Display Market |
Key Findings Of The Study
- In 2019, the combiner-based segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 18.4% during the forecast period.
- The conventional segment accounted for around 80.0% of the head-up display market share in 2019.
- In 2019, automotive segment attributed nearly three-fourth share of the total head-up display market.
- OEMs contributed major share of 67.0% in global HUD market during 2019.
- Germany was the major shareholder in the Europe head-up display market, accounting for more than 10.0% share in 2019.
Various leading manufacturers such as BAE Systems, Continental AG, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporated, and Visteon Corporation occupy a prominent revenue share in the head-up display market.
The combiner-based head-up display segment was the highest contributor to the market in 2019. The combiner-based segment accounted for more than 50% market share in 2019. This type of head-up display is widely used in military and commercial aircrafts, as it plays a vital role in supporting the pilots and preventing the collision risk with terrain. Besides, increase in demand from automotive aftermarket for combiner-based head-up displays is anticipated to enhance the further market growth.
The emergence of COVID-19 pandemic has downsized the head-up display market growth. There are hardly any new orders for commercial and business aircrafts, owing to unfortunate consequences on the business during the pandemic. Besides, the new vehicle registration record very low in the year 2020. However, the demand from defense sector remains unaffected and is estimated to grow with increasing investments during the forecast period.
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