BURNABY, Canada, May 8, 2015 /PRNewswire/ --
Rising military expenditure and growing demand for low-cost HUDs from the automotive sector to drive global head-up display market
Head-up displays were first introduced in 1958 and until 1988 their application was limited to defense and civil aviation sectors. Head-up displays are used in aircraft to project vital information such as runway lighting, runway aim point, target information, tail strike avoidance information, wind shear awareness and recovery information, etc. In 1988, General Motors expanded applications of head-up displays in automotive sector by integrating them in passenger cars. Rising per capita disposable income and safety concerns are increasing penetration of head-up displays in the automotive sector. Head-up displays are used in automobiles to project important information such as speed, in-vehicle information, urgent warning signals and navigation directions within 1.8-2 meters of the driver's field of vision.
According to recently published TechSci Research report "Global Head-up Display Market Forecast & Opportunities, 2020", the global market for head-up displays is forecast to reach USD5.2 billion by 2020. Defense sector is expected to continue its dominance in the global HUD market through 2020, due to increasing military spending, globally. Continuously increasing fleet size of airplane, helicopters, land vehicles, etc., is propelling demand for head-up display from the defense sector. Demand for HUDs from the automotive sector is forecast to witness robust growth over the next five years due to their increased integration in luxury cars. Moreover, launch of low cost HUDs is anticipated to witness a surge in demand for these devices from low and medium range cars.
Americas would continue to lead the global head-up display market through the forecast period. However, Asia-Pacific is expected to witness robust growth due to continuously growing demand for HUDs from emerging nations such as China, India and Indonesia. Rising military expenditure, increase in demand from the automotive segment, rising per capita income levels and increasing focus on technological advancements is projected to drive demand for HUDs in Asia-Pacific. Presently, BAE Systems plc, Rockwell Collins Inc., Thales SA, Continental AG, Elbit Systems Ltd., Delphi Automotive Plc, DENSO Corporation, Garmin Ltd., Pioneer Corporation and Nippon Seiki Co. Ltd. are amongst the leading manufacturers in the global HUD market.
"The launch of pico-projector based low cost and interactive head-up display is setting a new trend in the global HUD market. Moreover, growing demand HUDs integrated with high resolution projection and enhanced picture quality technologies, and other advanced technologies such as holographic and volumetric displays are expected drive the global market in the coming years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Head-up Display Market Forecast & Opportunities, 2020" has evaluated the future growth potential of head-up display market across the globe, and provides statistics and information on market structure, size, trends and consumer behavior. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the head-up display market, globally.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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