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    Helmet-Mounted Display Market Report | 2028

    Helmet-Mounted Display Market Report | 2028
    Report code - SR1958 Published On : Nov,2023 No. of Pages: 135
    Helmet-Mounted Display (HMD) Market Size, Share, Trend, Forecast, Competitive Analysis, an See more...

    Market Highlights

    The helmet-mounted display market is estimated to grow at a decent CAGR of 4.7% during the forecast period to reach a value of US$ 2.5 billion in 2028.

    Helmet-Mounted Display Market Snapshot

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    What are helmet-mounted displays(HMD)?

    The helmet-mounted display is made for the convenience of soldiers, who use it as a portable device mounted on their respective helmets for different military missions, particularly in low-light environments. These are highly advanced electro-optical devices that produce images by enhancing the light source of the environment or by detecting and measuring infrared energy instead of relying on their sources. These goggles have become a vital element for armed troops during their military operations, as they provide an edge to soldiers in the dead of the night. They provide armed troops with significantly enhanced situational awareness along with increased lethality through faster target acquisition, enabling them to accurately target, engage, and neutralize threats without the risk of exposure.

    These goggles are very much in demand in recent years, as they efficiently track the area where soldiers see and can extrapolate the visual information. These goggles aid in providing a close-up simulation of a soldier's natural vision. They act as a force multiplier during critical missions. Due to the numerous benefits of helmet-mounted displays for military personnel, there has been a steady growth in their overall production with the increasing border conflicts and the rising threat of terrorism in recent times.

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Technology-Type Analysis

    Image Intensification Technology, Thermal Technology, and Fusion Technology

    Fusion technology is predicted to remain the largest and fastest-growing segment in the coming years.

    Platform-Type Analysis

    Ground-based Platform, Air-based Platform, and Naval-based Platform

    The ground-based platform is expected to remain the largest segment during the forecast period, whereas the air-based platform is likely to witness the fastest growth.

    Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

     

    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 is estimated to maintain its dominance in the coming years. Almost, all companies active in the business of HMDs are primarily targeting the ground-based platform.

    Segmentation

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    Technology Type

    The market is segmented into image intensification technology, thermal technology, and fusion technology. All three technology types are further bifurcated with the sole aim of providing 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. In recent years, helmet-mounted display goggles embedded with fusion technology have proved to be excellent equipment for night vision and have generated a large demand. With the fusion technology, these goggles provide a close-up simulation of a soldier's natural vision and serve as a force multiplier during crucial military operations. Therefore, with the growing anti-terrorism operations and increasing border conflicts across the globe, the demand for HMDs equipped with fusion technology is expected to increase.

    Regional Analysis

    North America, which is the largest military spender in the world, is likely to remain the major demand generator for HMDs throughout the forecast period. This region is the home to several market-leading companies such as L3Harris Technologies, Inc., Raytheon Technologies Corporation, and Elbit Systems of America, LLC. These companies are also among the active contractors for the US DoD for HMDs. 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.

    Regional Insights

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    Key Players

    The following are some of the major players in the helmet-mounted display market:

    Recent Product Developments: In recent years, a fair number of new helmet-mounted displays have been launched by manufacturers. Some of them have been mentioned below:

    • BAE Systems plc. developed the ENVG III/FWS-I solution, an integrated optronic system comprised of two devices: the ENVG III-night vision goggle and the FWS-I thermal weapon sight, which provide both situational awareness and thermal targeting solutions for the soldiers.
    • Raytheon Technologies Corporation developed the F-35 Gen III helmet-mounted display system (HMDS), a night vision system specifically designed for airborne operations. It is comprised of an integrated head-up display (HUD), a helmet-mounted display (HMD), and visor-projected night vision.

    Recent Contracts and Agreements: There have been several investments in the defense industry directed at helmet-mounted displays in recent years, which would boost the overall market. Some of them have been mentioned below:

    • In November 2022, Instro Precision Technologies, a subsidiary of Elbit Systems Ltd., received a contract to provide additional XACT nv33 night vision goggles in a helmet-mounted configuration to the UK MoD.
    • In November 2022, L3Harris Technologies, Inc., received a new production order from the US Army for additional ENVG-B night vision goggles, which are used as helmet-mounted displays.
    • In October 2021, Elbit Systems of America, LLC, signed a contract worth US$ 54 million with the US Army to produce the Enhanced Night Vision Goggle – Binocular (ENVG-B). Similarly, in September 2021, L3Harris Technologies, Inc. signed a contract worth US$ 100 million with the US Army to deliver the ENVG-B systems. These goggles are primarily mounted on the helmets of soldiers, providing them with an optimal view of the environment and enabling them to execute their military missions effectively.
    • In June 2021, Elbit Systems UK Limited signed an 18-month contract worth US$ 16 million with the UK Ministry of Defence (MoD), to provide the UK Armed Forces with lightweight micro binocular XACT nv33 night vision goggles in a helmet-mounted configuration.

    Recent Market JVs and Acquisitions: Over the past few years, there have been a fair number of strategic alliances, including M&As, JVs, etc., across the globe. Some of them have been mentioned below:

    • In May 2021, Teledyne Technologies, Inc. completed the acquisition of FLIR Systems, Inc. The company currently operates under the name of Teledyne FLIR LLC.
    • In July 2020, Raytheon Corporation merged with United Technologies Corporation to form Raytheon Technologies Corporation. This merger of equals is the defense sector's largest-ever merger in terms of value.
    • In June 2019, L3 Technologies had an all-stock merger with Harris Corporation, which led to the formation of L3Harris Technologies, Inc.
    • In September 2019, Elbit Systems of America, LLC, a subsidiary of Elbit Systems Ltd., successfully acquired Harris Corporation's night vision business for $350 million.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s helmet-mounted display market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the helmet-mounted display market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent Development

    As a result, there have been significant investments in the development and procurement of helmet-mounted displays by the defense authorities in recent times, which has significantly influenced the market growth. Some of them are:

    • In October 2021, Elbit Systems of America, LLC signed a contract worth US$ 54 million with the US Army, to produce the Enhanced Night Vision Goggle–Binocular (ENVG-B). Similarly, in September 2021, L3Harris Technologies, Inc. signed a contract worth US$ 100 million with the US Army, to deliver the ENVG-B systems. These goggles are primarily mounted on the helmets of soldiers, providing them with an optimal view of the environment and enabling them to execute their military mission effectively.
    • In June 2021, Elbit Systems UK Limited signed an 18-month contract worth US$ 16 million with the UK Ministry of Defence (MoD), to provide the UK Armed Forces with the lightweight micro binocular XACT nv33 night vision goggles, in a helmet-mounted configuration.

    A Bird's Eye View of the Market

    The market is estimated to grow at a CAGR of 4.7% in the coming five years. The growth is primarily due to the growing usage of these advanced goggles by dismounted soldiers for military operations, which results in increasing orders by several defense authorities, across the globe.

    L3Harris Technologies, Inc., BAE Systems, Thales Group, Elbit Systems Ltd., and Raytheon Technologies Corporation are some of the key players in the market. These companies have been efficacious in securing several orders from different defense authorities related to night vision devices, including helmet-mounted displays.

    North America, which accounts for over 40% of the global military expenditure, is estimated to be dominant in the helmet-mounted display market in the coming years. In addition, the USA is the home to several market-leading companies such as L3Harris Technologies, Inc., Elbit Systems of America, LLC, and Raytheon Technologies Corporation. These companies are also the major contractors for the US DoD for the advanced helmet-mounted displays.

    Asia-Pacific is estimated to grow at the fastest pace in the helmet-mounted display market in the coming years. The region is very prone to border conflicts and terrorist attacks, which intensifies the demand for these advanced night vision goggles for effective military operations. Also, China and India, the two emerging countries in the region, have increased their military expenditure significantly in recent times, which would fuel overall market growth.

    The helmet-mounted display is made for the convenience of soldiers, who use it as a portable device mounted on their respective helmets for different military missions, particularly in low-light environments. These are highly advanced electro-optical devices that produce images by enhancing the light source of the environment or by detecting and measuring infrared energy, instead of relying on their sources.

    The market was estimated to reach USD 2.5 billion by 2028.

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