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    Helmet Mounted Display Market Report

    Helmet Mounted Display Market Report
    Report code - SR1958 Published On : Apr,2022 No. of Pages: 135
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    Helmet-Mounted Display (HMD) Market Size, Share, Trend, Forecast, Competitive Analysis, an See more...

    Market Highlights

    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 very 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. 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.

    Due to the numerous benefits of helmet-mounted display night vision goggles 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. Overall, the helmet-mounted displays market is estimated to grow at a decent CAGR of 4.6% during the forecast period to reach a value of US$ 2.3 Billion in 2027.

    Market Segments' Analysis

    Based on the 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. 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.

    Similarly, 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 generation 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 the 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 the fusion advanced technology is expected to increase.

    In terms of regions, North America, which is the largest military spender in the world, 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 would 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.

    Key Players

    The global market for HMD goggles is highly competitive. With the large demand for fusion technology currently, major companies such as L3Harris Technologies, Inc. and Elbit Systems Ltd., engage in the production and provision of the fused binocular night vision devices for armed forces. In addition, there have been some major mergers and acquisitions in the industry in recent years, which has significantly changed the overall market competition. Some of the major M&As are the following:

    • In April 2020, Raytheon Technologies was formed through the merger of Raytheon Corporation and United Technologies Corporation.
    • In September 2019, Elbit Systems of America, LLC acquired the night vision business segment of Harris Corporation (now L3Harris Technologies, Inc.) for US$ 350 million.
    • Similarly, in June 2019, L3 Technologies merged its business operations with Harris Corporation, to form L3Harris Technologies, Inc.

    The entire competitive structure has changed as a result of these mergers and acquisitions. The following are some of the major players in the HMDs market:

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

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s HMDs market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the 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 15 detailed primary interviews with the 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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The helmet-mounted display market is segmented into the following categories:

    Helmet-Mounted Display Market, by Platform Type

    • Ground-based Platform (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Airborne Platform (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Naval-based Platform (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Helmet-Mounted Display Market, by Technology Type

    • Image Intensification Technology (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • Gen I-III (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • Gen IV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Thermal Technology (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • SWIR (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • MWIR (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • LWIR (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Fusion Technology (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • Optical Image Integration (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • Digital Image Integration (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Helmet-Mounted Display Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, Israel, and Others)

    Report Customization Options

    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 the 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

    A Bird's Eye View of the Market

    The helmet-mounted display market is estimated to grow at a CAGR of 4.6% 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 are some of the key players in the helmet-mounted display 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 US is the home to several market-leading companies such as L3Harris Technologies, Inc., and Raytheon Technologies. 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 most powerful countries in the region, have increased their military expenditure significantly in recent times, which would fuel the overall market growth.

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