The Human Machine Interface (HMI) For Cockpit Displays Market is projected to witness a compound annual growth rate of 4.49% during the forecast period. Human-machine interface (HMI) for cockpit displays refers to cockpit display systems providing a virtual and audio portion of the Human Machine Interface (HMI) by which aircrew manage the flights. It is used for flight testing, mange glass cockpit, and to interface with aircraft avionics. The prime reason for the growth in this market is due to increasing automation along with increasing investment in private and military & defense funding across nations. According to the world bank, 5.96 % of the total general government expenditure is spent on military expenditure worldwide. Apart from this, automation in aviation has also increased at an exponential rate. According to the world robotics 2021- service robots report automation for transportation and logistics is at the first place for professional use. There were 33,000 units sold for transportation and logistics in 2019 and in in 2020 it increased to 44,000 units. Showcasing the increasing use of automation in transportation and logistics, one of the major carriers being the air carrier.
Increasing military and defense funding
One of the prime reasons supporting the growth in the Human Machine Interface (HMI) For Cockpit Displays Market is the rising military and defense funding. Military and defiance funding plays an important role in HMI for the cockpit displays market. One of the prime reasons to use HMI for cockpit displays is for testing the aircraft without casualty, despite the fact that it requires a high amount of investment. All across the world around 2.35% of the GDP is spent on defense according to the world bank. In 2020, US$ 1.929 trillion was spent worldwide for military expenditure. In the United States alone, it accounted for US$ 778.232 Billion, which accounted for around 4% of the GDP. Making it one of the highest allocations of military expenditure in the world. China accounts for US$ 252.304 Billion in military expenditure. It spends around 1.75% of the GDP on military expenditure. In 2020, India spent 2.88% of the GDP on military expenditure, accounting for US$ 72.887 Billion. India spends around 9.08% of the total government expenditure on military expenditure. Making it top five countries for high military expenditure.
The aerospace industry is forecasted to hold a notable market during the forecasted period.
By end-user industry, the Human Machine Interface (HMI) for Cockpit Display market has been segmented into aerospace and military, and defense. The aerospace industry is forecasted to hold a notable market during the forecasted period. The driving factor attributable is an increase in air traffic and the development of new technologies due to which, the cockpit display market must be enhanced continuously in order to provide pilots with new features. High-definition visuals and interactive immersive virtual worlds assist the pilot in becoming comfortable with revolutionary aircraft cockpit concepts. Furthermore, an HMI system may be used to assess the effects of various cockpit display formats on pilot workload, degree of safety, and situational awareness. Pilots have access to a variety of high-tech equipment, ranging from better information systems like the Electronic Flight Bag (EFB) to greater aircraft control (e.g., automated collision avoidance maneuvering) and overall flight management through the Flight Management System, FMS.
The US human-machine interface (HMI) for the cockpit display market is projected to hold a notable share in the global market.
Based on geography, the Human Machine Interface (HMI) for Cockpit Display Market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The US is expected to hold a notable share in the market. The United States aerospace, military, and defense industries are the global leader in the innovation and production of advanced aircraft and defense systems. The industry has been increasing the adoption of HMI in cockpit displays for better clarity, security, and safety of crew members and passengers. Airbus and Boeing are two major aircraft producers in the country. The companies' combined deliveries have escalated at a lucrative rate ever since 2010, with the increase in aircraft demand owing to the rise in air flight. Boeing delivered 38 commercial jets in December 2019, while Airbus delivered 138 commercial jets in the month, up from 127 commercial jets in December 2018.
The outbreak of the pandemic had a negative impact on the market growth in 2020. With the government announcing the imposition of lockdown and several other restrictive COVID-19 measures, there had a decline in the production of aircraft, globally, in 2020. According to official industrial estimates, aircraft deliveries had been dropped at a significant rate in the same year. Boeing, one of the key players in the market, had stated that it had delivered 157 jets in 2020, down from 380 in the previous year. But, with the rise in aviation traffic in 2021, with the introduction of vaccines and opening up of the borders, aircraft production has been expected to surge at a significant rate, in the coming years.
|Market size value in 2019|
|Market size value in 2026|
|Growth Rate||CAGR of 4.49% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Component, Product Type, End-Users, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Spectralux Avionics, Aero Maoz Corporation, ANSYS Inc., CSI Keyboards, ENSCO Inc., Astronics Corporation, DiSTI|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the human machine interface for cockpit display market size by 2026?
A1. The human machine interface for cockpit display market is projected to reach a market size of US$193.535 million by 2026.
Q2. What is the size of the global human machine interface (HMI) for cockpit display market?
A2. Human Machine Interface (HMI) For Cockpit Displays Market was valued at US$142.272 million in 2019.
Q3. What are the growth prospects for the human machine interface for cockpit display market?
A3. The human-machine interface (HMI) for cockpit display market is projected to witness a CAGR of 4.49% over the forecast period.
Q4. What factors are anticipated to drive the human-machine interface (HMI) for cockpit display market growth?
A4. One of the prime reasons supporting the human-machine interface (HMI) for cockpit display market growth is the rising military and defense funding.
Q5. Which region holds the largest market share in the human-machine interface (HMI) for cockpit display market?
A5. The US is expected to hold a notable share in the human-machine interface for cockpit display market.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. HUMAN-MACHINE INTERFACE (HMI) FOR COCKPIT DISPLAYS MARKET ANALYSIS, BY COMPONENT
6. HUMAN-MACHINE INTERFACE (HMI) FOR COCKPIT DISPLAYS MARKET ANALYSIS, BY PRODUCT TYPE
7. HUMAN-MACHINE INTERFACE (HMI) FOR COCKPIT DISPLAYS MARKET ANALYSIS, BY END-USER
7.3. Military & Defense
8. HUMAN-MACHINE INTERFACE (HMI) FOR COCKPIT DISPLAYS MARKET ANALYSIS, BY GEOGRAPHY
8.2.1. United States
8.3. Europe Middle East and Africa
8.4. Asia Pacific
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Spectralux Avionics
10.2. Aero Maoz Corporation
10.3. ANSYS Inc.
10.4. CSI Keyboards
10.5. ENSCO Inc.
10.6. Astronics Corporation
10.9. Korry Electronics
10.10. Continental Automotive
10.11. TP Group
10.13. Visteon Corporation
10.14. DENSO Corporation
10.15. WAGO Kontakttechnik GmbH & Co. KG
Aero Maoz Corporation
WAGO Kontakttechnik GmbH & Co. KG
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