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Global Multi-function Display Market Research Report:

The latest report by IMARC, titled “ Multi-function Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

” " the global multi-function display market size reached US$ 16.4 Billion in 2022. A multi-function display (MFD) refers to a small screen that is designed to show a large number of different information and performance results to the user in various configurable ways. It consists of multiple configurable buttons or soft keys for display purposes. It is an avionic device that is used to manage and display information, such as the aircraft’s engine, navigation, and flight functions. MFDs display various information, including altitude, airspeed, vertical speed, heading, navigation data, weather information, and engine and system status. Some MFDs are also equipped with GPS and can display maps and charts, making it easier for the pilot to navigate and plan routes. It is often integrated with other avionics systems and can provide alerts and warnings when necessary. As a result, it is widely adopted in military aircraft, aviation, automotive, commercial aircraft, and shipboard.

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Global Multi-function Display Market Trends :

The rising adoption of multifunction displays in the aviation industry is driving the global market. This can be attributed to the escalating demand for improved components of glass cockpits and advanced primary flight displays (PFD) in aircraft. Along with this, the rapid utilization of digital displays in the automotive industry is further catalyzing the market as it is widely used in modern car dashboards to provide drivers with a wealth of information in a single display, such as speed, fuel consumption, and navigation data. In line with this, the expanding usage of MFDs in marine applications, including fishing boats, commercial vessels, and pleasure craft to provide users with important data, such as water depth, fish location, and weather information, is augmenting the demand. Moreover, continuous developments in synthetic vision systems (SVS) that create virtual 3D images of terrain, and traffic information displays, are providing a boost to the market. Apart from this, the rising initiatives by the governments of several countries for the development of smart cities facilitating LED-based lighting retrofit projects are creating a positive market outlook. The market is further driven by the increasing adoption of multiple-function displays for ground control stations due to the growing illegal immigration on borders. Other factors, including a considerable rise in the demand for surveillance devices and extensive research and development (R&D) activities conducted by the leading players, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 27.8 Billion by 2028, exhibiting a growth rate (CAGR) of 9.0% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).