Companies such as BAE Systems plc, Nippon Seiki Co. Ltd., Rockwell Collins Inc., and Continental AG currently lead the global head-up display (HUD) market. As per the findings of Transparency Market Research (TMR), these players are mainly focusing on giving users a comprehensive experience through incorporating cutting-edge technologies.
Many players are also taking recourse to strategic collaborations and business partnerships to strengthen their position in the market. Besides this, the leading companies are looking to add novel solutions to their portfolios to expand their geographical reach.Research and development activities have enabled the leading companies to innovate for improving their existing HUDs in terms of wider angle of view, clarity in projection, and easy integration with other electronic devices. Such innovations are aimed at gaining the lion’s share in the market.
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The demand for head-up display mainly arises from the automotive and defense & aviation sectors. In the automotive sector, demand for these products has been surging rapidly from the high-end and luxury cars segment. The increasing demand for improved safety systems in aircrafts and automobiles is another key factor aiding the uptake of HUDs.
“The automotive industry witnesses cut-throat competition, which is compelling manufacturers to explore technological innovations as a key strategy for competitive advantage. This is in turn fueling demand for HUDs from the industry as they enhance road safety by displaying critical information,” said a lead TMR analyst.
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HUDs have been incorporated in combat aircrafts since decades. Due to the surging air traffic, their use in civil aircrafts is also expected to increase gradually. This recent development will in turn create opportunities for increased HUD sales. “Strong growth witnessed in the luxury car segment across emerging economies will also boost the incorporation of HUDs in the forthcoming years,” added the TMR analyst. The demand for luxury cars is rising at a robust pace in India, Brazil, China, Mexico, and Russia. All these countries boast a growing economy, rising disposable income levels, and changing demographics, which are key factors fuelling demand for HUDs.
Despite witnessing favorable growth opportunities, high cost of manufacturing is restraining the adoption of HUD around the world. Until recently, the application of HUDs was limited to the defense and military sector, because only government could afford the high investment required for its production. Despite the technology gaining a footprint in the automotive sector, small and medium scale manufacturers are yet to participate in the popular trend. The technology was thus able to attract only large manufacturers. This in turn has led to the limited deployment of HUDs.
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By applications, the aviation industry accounted for approximately 79% of the overall demand witnessed in the market. However during the forecast period from 2015 to 2022, the application of HUDs in the automotive sector is expected to rise at a faster pace. Regionally, North America led the global HUD market in 2014. Besides increasing application in the aviation sector, the rising demand for luxury cars will boost the North America HUD market at a CAGR of 19% between 2015 and 2022.
As per TMR, the global head-up display market stood at US$1.76 bn in 2014. TMR forecasts the market to reach US$7.05 bn by 2022, exhibiting a CAGR of 19.1% from 2015 to 2022.This review is based on information published by Transparency Market Research in a report, titled “Head-up Display Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022.”
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