Multi-Function Display (MFD) Market Is Projected To Reach USD 260 Billion By 2028, Expanding at a CAGR Of 12% 2021 And 2030.
Multi-Function Display (MFD) Market Is Projected To Reach USD 260 Billion By 2030, Expanding at a CAGR Of 12% 2021 By 2030.
The MFD market is highly fragmented with the presence of many players catering to the increasing demand. High competition among the industry players lead to product innovation, which attract more consumers. This, in turn, drives the market growth. Many key players such as Esterline Technologies Corporation (US) is in collaboration with prominent aircraft manufacturers such as Airbus SAS (Netherlands) to strengthen their market position. For example, in 2017, Esterline Corporation signed a contract with Airbus SAS to provide Esterline MFD-3068 Smart Multi-Function Display to the latter for the German Armed Forces.
The global MFD market has witnessed high growth in the recent years owing to increasing aircraft orders. Furthermore, the other factors contributing to the growth of the market are growing technological advancements and rising need for system efficiency are also expected driving the growth of the market. However, declining defense budgets of developed countries such as the US and longer product life cycle might hamper the growth of the market.
Increasing the installation of a glass cockpit to enhance safety is spurring the use of MFDs.
Other Prominent Players
|Market Size||USD 260 Billion|
|Forecast Units||USD Billion|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By System,By Platform,By Technology|
|Geographies Covered||North America|
|Key Vendors||United Technologies Corporation (US),Saab AB (Sweden),BAE Systems (UK),Thales Group (France),Garmin Ltd (US),Barco (Belgium),FLIR Systems (US),Northrop Grumman Corporation (US),Honeywell International, Inc. (US),Lockheed Martin Corporation (US)|
|Key Market Opportunities||The global MFD market has witnessed high growth in the recent years owing to increasing aircraft orders|
|Key Market Drivers||Rising demand for new aircraft that offer superior surveillance capabilities is expected to drive the market growth.|
Multi-function display (MFD) market is projected to acquire USD 260 billion by 2030, at a moderate 12% CAGR in the forecast period.
The electronic flight display (EFD) segment is expected to observe substantial demand over the review period.
The APAC region is expected to secure the highest CAGR.
The LED segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global Multi-function display (MFD) market are United Technologies Corporation (US), Saab AB (Sweden), BAE Systems (UK), among others.