New York , Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global head-up display market size is poised to grow at a CAGR of over 24.30% from 2023 to 2035. The market is anticipated to garner a revenue of USD 47 billion by the end of 2035, up from a revenue of USD 3 billion in the year 2022. The growth of the market is majorly attributed to the expanding aerospace industry. The entire global fleet size is currently 28,674 aircraft, with 23,513 operational and 5,161 grounded, and there has been a positive trend over the last three months of 2022. There is a 3% rise in active aircraft compared to the previous month. The operating aircraft fleet increased by 11% from June 2021 to June 2020 and by 91% from June 2020 to June 2021.
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In addition to this, Ryanair and Malta are among the top 25 aircraft in the world with the greatest number of active aircraft they both have 100 or more aircraft in their fleet, with 100% and 99% of their fleets active, respectively. Head Up Display (HUD) is a method of giving information to pilots in their field of view of their outward forward vision by projecting essential flight instrument data onto a smaller through screen placed directly on top of the pilot's line of sight gazing forward out of the aircraft's windscreen.
Head-Up Display Market: Key Takeaways
- Market in North America region to propel the highest growth
- The Automotive segment to garner the highest growth
- Market in Europe region to grow at the highest rate
Growing Instances of Road Accidents is to Boost the Growth of the Head-Up Display Market
Travel made attainable by motor vehicles helps many countries' economic and social growth. Despite this, vehicles have been involved in crashes that result in millions of deaths and injuries each year. On any given day, approximately 3,700 people lose their lives in car, bus, motorcycle, bicycle, truck, or pedestrian collisions globally. More than half of those killed are pedestrians, motorcyclists, and cyclists. Furthermore, accidents are currently killing more individuals than HIV/AIDS. Accident injuries are predicted to be the 8th largest cause of death worldwide for all age groups, as well as the most prevalent cause of death for children and young adults aged 5 to 29.
Head-Up Display Industry: Regional Overview
The global head-up display market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Road Accidents and Growing Adoption of Smart Vehicles is to Boost the Market Growth in North America Region
Automobile crashes are the main cause of death in the United States among those aged 1 to 54,1 and the greatest cause of non-natural death for US nationals living or going abroad. Every year, almost six million passenger car accidents occur in the United States. Road traffic accidents are the most significant cause of fatality in the country, killing over 38,000 people each year. Rough roads, low visibility, and unpredictable driving conditions are all factors that contribute to car accidents. Atmospheric and roadway conditions also include sun glare, visual obstruction, and slick roadways caused by rain, snow, or ice.
Growing Adoption of Connected Vehicle is to Elevate Market Growth in Europe
Based on the most recent data, Europe's connected auto industry grew around 16% year on year to around 9 million units in 2021, with Germany leading the way, being followed by France. Moreover, Europe at the moment accounts for roughly 30% of the worldwide connected vehicle fleet. One of the regions with a high potential for linked services is the European Union. Connected automobiles are outfitted with communications technology that allows them to communicate with in-car electronics as well as services outside of the vehicle. As a result, connected cars can interact with the other automobiles on the road as well as intelligent infrastructure. Furthermore, the connected car fleet is rapidly growing in the region. By 2025, approximately 70% of automobiles on European roads will be connected, which means vehicles outfitted with telematic tools that, through Internet connections and mobile devices, will have the capacity to connect to the external world.
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Head-Up Display Segmentation by Technique
- Projection-Based
- Reflection-Based
Head-Up Display Segmentation by Application
- Automotive Industry
- Aviation Industry
Based on application, the head-up display market automotive industry is expected to be responsible for the largest market share by the end of 2035. The growth of the segment is majorly attributed to the rising deployment of the ADAS implemented vehicles. Increased interest in AD systems has the potential to generate billions of dollars in profit. Given the current consumer curiosity in existing AD features and commercial solutions, ADAS and AD might produce between USD 300 billion and USD 400 billion in the passenger automobile industry by 2035. Furthermore, the transition of the automobile industry from fuel-powered vehicles to electrically charged vehicles is expected to increase the demand for head-up displays. To stay on track and achieve net zero CO2 emissions by 2050, the share of EVs in total sales must reach roughly 60% by 2030. At the end of 2021, the number of electric vehicles on the road has surpassed 16.5 million.
Head-Up Display Segmentation by Type
- Conventional
- Augmented Reality-Based
On the basis of type, the head-up display market augmented reality-based segment will be the significant revenue holder in the market over the forecast period. The growing investment in smart technology for the automotive industry is the major factor that is attributed to the segment’s growth. The most funded technologies, with an emphasis on 17 essential categories relating to automation, connection, electrification, and smart mobility (ACES). Investors are investing approximately USD 330 billion into over 2,000 ACES-focused mobility startups, with over USD 80 billion committed just at the beginning of 2019 alone. AV technology and smart transportation received around two-thirds of the overall investment, or USD 206 billion.
Head-Up Display Segmentation by Components
- Projector
- Combines
- Video Generation Computer
- Others
A few of the well-known market leaders in the global head-up display market that are profiled by Research Nester are Panasonic Holdings Corporation, CY Vision, Robert Bosch GmbH, Continental AG, Denso Corporation, Thales Group, Pioneer Group, BAE Systems Plc, Nippon Seiki Co., Ltd., Visteon Corporation, and Eibit Systems Ltd.
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Recent Developments in the Head-Up Display Market
- Panasonic Automotive Systems Co., Ltd. Has announced the launch of a large-screen WS HUD. Panasonic's large-screen WS HUD (Wind Shield Head-Up Display) is placed in Nissan Motor Corporation's (hereafter Nissan) new model crossover EV, the Ariya. This is Nissan's sixth vehicle to feature Panasonic's WS HUD, succeeding the Skyline, Rogue, Qashqai, Pathfinder, and QX60.
- CY Vision has brought new technical forms in their 3D AR HUD technology automotive 3D Augmented Reality Head-Up Displays (3D AR-HUD). CY Vision's technique for algorithmic holography distinguishes modern car designs by transforming the windscreen into an always-on, always-visible display for critical information.
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