Helmet-Mounted Display (HMD) Market is Forecast to Reach US$ 2.3 Billion in 2027, Says Stratview Research

The Helmet-Mounted Display (HMD) market is likely to rise at a CAGR of 4.6% during 2022-2027, to reach US$ 2.3 billion in 2027, states Stratview Research.

DETROIT, April 13, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Helmet-Mounted Display (HMD) Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Helmet-Mounted Display (HMD) Market

The global Helmet-Mounted Display (HMD) market is segmented based on Platform Type, Technology Type, and Region.

Based on platform type - The market is classified as ground-based, air-based, and naval-based platforms. As these devices are primarily used by dismounted soldiers for any ground-based military operation in low-light or dark environments, the ground-based platform dominated the market with a share of more than 85% in 2021 & is expected to grow at a high CAGR during the forecast period. Air-based or airborne is the next largest market after ground HMDs. Almost, all companies active in the business of HMDs are primarily targeting ground HMDs.

Based on the technology type - The market is segmented as image intensification technology, thermal technology, and fusion technology. All three technology types are further bifurcated with the sole aim to provide a panoramic view of the market. Image intensification is divided into generations I-III and IV systems. Similarly, thermal HMDs are segmented into SWIR, MWIR, and LWIR, and fused HMDs into optical and digital image integration. Under these fusion technology segments was estimated to dominate the market with a share of more than 60% in 2021. 

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Which Region Offers the Best Opportunity and Growth?

The report suggests that the North America held the highest market share of more than 45% in 2021, which is also the largest military spender in the world and is likely to remain the major demand generator for HMD goggles throughout the forecast period. This region is the home to several market-leading companies such as L3Harris Technologies, Inc., Raytheon Technologies, and Elbit Systems of America, LLC.

These companies are also among the active contractors for the US Department of Defense for HMD goggles. It is also estimated that Asia-Pacific will witness the fastest growth in the global market during the forecast period, due to increasing demand for advanced night vision goggles by the regional military forces and the swift rise in the overall military expenditure, especially in China and India.

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Top 5 Companies in Helmet-Mounted Display (HMD) Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• L3Harris Technologies, Inc.
• BAE Systems
• Thales Group
• Elbit Systems Ltd.
• Raytheon Technologies

What Deliverables will You Get in this Report?

Related reports which might be useful:

• Advanced Combat Helmet Market
• Head Mounted Display Market

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