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Technavio’s market research analyst predicts that the global multi-function display (MFD) market will grow at a rapid CAGR of over 9% by 2020. One of the key drivers for this market is the implementation of improved safety standards. Since flying has become more dependent on glass cockpit systems, the pilots and crew members have to get trained in dealing with every possible failure scenario. Statistics have shown that aircraft equipped with glass cockpits have a lower accident rate. Consequently, the US National Transportation Safety Board’s recommendation to the Federal Aviation Administration to have glass cockpit systems installed in airplanes to enhance safety will be implemented. As the glass cockpit certification process is not very expensive, installation of this system in all types of aircraft will have a positive impact on market growth during the forecast period.
In this industry research report, analysts have estimated factors like the installation of autopilot systems in aircraft to drive market growth during the forecast period. The autopilot system helps pilots to effectively monitor altitude, airspeed, distance, and weather conditions so that an airplane can be landed safely. Due to a tremendous surge in passenger traffic, many airlines have been compelled to take deliveries for approximately 40,000 aircraft to meet the rising demand. Consequently, the demand for autopilot landing systems will rise and, in turn, fuel market growth until the end of 2020.
The commercial aerospace segment dominates the global MFD market and is expected to account for over 60% of the total market share by the end of the forecast period. Due to the recent growth of the passenger aircraft market, the need for enhanced ground proximity warning systems and other features like altitude, pitch, mapping, and weather information will be on the rise.
At present, the Americas dominate the global MFD market and is expected to generate revenues of over USD 6 billion by the end of the forecast period. Major commercial airlines in the US have gone through several mergers since 2008, which in turn has given them control over 70% of the US aviation market. Since MFD systems help in enhancing operations and flight safety, its demand among the end users in this region will rise exponentially over the next few years.
The global MFD market is highly competitive as most vendors compete for market shares on the basis of product quality, cost, reliability, and aftermarket services. In this market, suppliers have to provide cost-effective and high-quality systems equipped with the latest materials and technology to survive and thrive in this intensely competitive market. Government organizations like the DOD, FAA, Civil Aviation Safety Authority, and the EU certify systems offered by every vendor. The use of such systems is highly encouraged as it enhances safety and aircraft operation.
Key vendors in this market are -
Other prominent vendors in this market are Diehl Aerosystems, Esterline, Garmin, L-3 Communications, and Thales Group.
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A multi-function display combines the weather, radar, traffic, terrain, navigation map, and other data into a single, space-saving display instrument. These displays help to improve the pilot's ability to protect the aircraft against all hazardous conditions by displaying safety information in a clear and concise format.
The report, global multi-function display market, is part of Technavio’s aerospace and defense research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as aerospace, aerospace components, aerospace manufacturing, aerospace products, commercial aviation, defense, defense technology, general aviation, homeland security, maintenance repair and overhaul (MRO), and space. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Global aerospace and defense supply chain system
PART 07: Global aerospace and defense value chain system
PART 08: Market segmentation by application
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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