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The heads-up display (HUD) in the transportation market size is estimated to grow at a CAGR of 4.3% between 2023 and 2028. The market size is forecast to increase by USD 1,072.38 million. The growth of the market depends on several factors, including the growing awareness regarding passenger and vehicle safety, increasing demand for HUDs from commercial aircraft, and the increasing demand for HUDs from luxury vehicles segment
This heads-up display (HUD) market in the transportation sector report extensively covers market segmentation by end-user (aviation, automotive, and locomotive), technology (conventional and AR-based), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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Increasing demand for HUDs from luxury vehicles segment is the key factor driving market growth. luxury and premium vehicles also feature the integration of advanced electronic components such as AR HUDs to provide enhanced comfort and safety. On this front, several luxury and premium vehicles are equipped with HUD systems that have features such as voice and gesture recognition.
Furthermore, consumers of luxury vehicles prefer to buy OEM quality HUDs to maintain a higher comfort level in vehicles. Therefore, the increase in global sales of luxury and premium vehicles is expected to offer numerous revenue-generating opportunities for HUD manufacturers catering, which, in turn, is anticipated to drive the growth of the market during the forecast period.
The advent of holographic film technology in HUD is the primary trend shaping market growth. Current advances in polymer films, along with new printing techniques, have allowed new possibilities for holographic films. Holographic can be used as an optical element that shapes and bends light. The functionality of multiple traditional optical lenses can be combined into a single holographic film recording, and this significantly reduces the overall size of the optical system.
Moreover, for reducing the size of a HUD system, one or more holographic films can be used. They replace the functionality of large, curved mirror elements that are generally used, as well as eliminate the need for large air space between elements. This reduction in size enables the HUD to project better and bigger images. Thus, such developments are anticipated to drive the growth of the market during the forecast period.
The slowdown in the automotive industry is a challenge that affects market growth. The availability of shared mobility assistance providers, advancements in Internet connectivity, and the growth in the adoption of smartphones are paving the way for the mass adoption of shared mobility solutions. Moreover, the ease of accessing shared mobility solutions, an increase in fuel price, and the rise in the cost of vehicles due to the implementation of stringent emission norms are driving consumers to prefer vehicles to vehicle ownership.
Moreover, high motorization rates in North America and Europe, an increase in tariffs on imported vehicles in the US and China, and the economic slowdown are likely to decrease vehicle sales during the forecast period. Such halts in vehicle production ahead of the decline in sales are expected to reduce the demand for HUDs in the automotive industry, thereby hampering the growth of the market in focus during the forecast period.
The market share growth by the aviation segment will be significant during the forecast period. The new aircraft will be installed with HUDs that are anticipated to deliver pilots with guidance as well as symbology. HUD also enables a seamless transition between visual meteorological conditions and instrumental meteorological conditions. In addition, most of the aircraft, including Airbus and BAE Systems, that are already in service are now being retrofitted with HUD.
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The aviation segment showed a gradual increase in the market share of USD 1,993.43 million in 2018. Several new contracts are being awarded worldwide for procuring military aircraft to ensure efficient defense against internal and external threats. In addition, heads-up display (HUD) in the transportation market players are collaborating with suppliers to enhance the performance of HUD systems. Such developments and collaborations are expected to drive innovations in the existing HUDs and subsequently develop HUD systems, which, in turn, are anticipated to drive the growth of the aviation segment of the market during the forecast period.
A conventional HUD offers information in a 2D fixed orientation at a set distance. This is useful if the driver is just interested in a subset of the data. Slowly, transportation companies are moving toward improved HUDs due to different factors such as increasing awareness, increasing disposable income, and changes in lifestyle. A conventional HUD projects information at a fixed distance of 2 to 4 meters. The conventional HUD segment held the largest market share in 2023 and is expected to dominate the heads-up display in the transportation market during the forecast period owing to the low cost associated with production and sales.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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