Helmet-Mounted Display Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2024-2030

"The Helmet-Mounted Display Market size was US$ 1.9 billion in 2023 and is likely to grow at a decent CAGR of 4.2% in the long run to reach US$ 2.7 billion in 2030."

Market Dynamics

Introduction

Helmet-Mounted Display (HMD) is a wearable device integrated into a helmet that projects real-time information, video, or augmented reality, majorly used in defense sectors for improved situational awareness. The helmet-mounted display market is segmented into Image Intensification Technology, Thermal Technology, and Others.

HMDs project essential battlefield information, such as maps, coordinates, targets, and navigation cues, directly onto the helmet visor or in a transparent eyepiece. This allows soldiers to keep their focus on the surroundings without needing to glance at handheld devices or cockpit screens.

Market Drivers

The expansion of the market is primarily fueled by several critical factors. First, rising global military expenditures are contributing to increased investments in advanced technologies and defense equipment, including helmet-mounted displays and related systems. Second, escalating conflicts in key regions have heightened the demand for cutting-edge military solutions, as nations seek to enhance their operational capabilities and maintain a strategic edge.

Additionally, there is a growing emphasis on military modernization across numerous countries, as governments prioritize upgrading their defense forces with next-generation technologies to address evolving security challenges. This focus on modernization is driving the adoption of advanced systems like fusion technology-based helmet-mounted displays, further propelling the market's growth.

These goggles are very much in demand in recent years, as they efficiently track the area where soldiers see and can extrapolate the visual information. These goggles aid in providing a close-up simulation of a soldier's natural vision. They act as a force multiplier during critical missions. Due to the numerous benefits of helmet-mounted displays for military personnel, there has been a steady growth in their overall production with the increasing border conflicts and the rising threat of terrorism in recent times.

Recent Product Developments

In recent years, a fair number of new helmet-mounted displays have been launched by manufacturers. Some of them have been mentioned below:

• BAE Systems plc. Developed the ENVG III/FWS-I solution, an integrated optronic system comprised of two devices: the ENVG III-night vision goggle and the FWS-I thermal weapon sight, which provide both situational awareness and thermal targeting solutions for the soldiers.
• Raytheon Technologies Corporation developed the F-35 Gen III helmet-mounted display system (HMDS), a night vision system specifically designed for airborne operations. It is comprised of an integrated head-up display (HUD), a helmet-mounted display (HMD), and visor-projected night vision.
• Recent Contracts and Agreements

There have been several investments in the defense industry directed at helmet-mounted displays in recent years, which would boost the overall market. Some of them have been mentioned below:

• In 2024, Leonardo DRS received a US$ 117 million order for next-gen thermal weapon sights under the U.S. Army's FWS-I contract, featuring uncooled thermal imaging technology and wireless integration with helmet-mounted vision systems.
• In 2023, Elbit Systems of America, LLC received a US$ 107 Million contract for the provision of ENVG-B systems, along with its spare parts, logistics support, and test equipment, for the US Army.
• In 2023, The UK Ministry of Defense (MOD) granted BAE Systems a £40 million ($49.5 million) contract to refine and advance its Striker II helmet-mounted display (HMD) for the Royal Air Force's Typhoon fleet
• In 2023, CEVS, was awarded a contract by the Naval Air Warfare Center Aircraft Division. The contract supports the development, engineering, logistics, and testing of the Improved Joint Helmet Mounted Cueing System for Block III F/A-18E/F and E/A-18G aircraft.
• In November 2022, L3Harris Technologies, Inc., received a new production order from the US Army for additional ENVG-B night vision goggles used as helmet-mounted displays.
• By Technology Type
• "Fusion technology is expected to maintain its dominance in the market during the forecast period".
• The market is segmented into image intensification technology, thermal technology, and fusion technology
• In recent years, helmet-mounted display goggles embedded with fusion technology have proved to be excellent equipment for night vision and have generated a large demand. With the fusion technology, these goggles provide a close-up simulation of a soldier's natural vision and serve as a force multiplier during crucial military operations.
• Fusion technology allows the HMD to merge data from multiple sources (e.g., thermal, infrared, GPS, and visual sensors), providing soldiers or pilots with a comprehensive view of their environment.
• By Platform Type
• "Ground-based platform is the dominant platform type whereas Air-based platform is the fastest-growing platform type in the market during the forecast period".
• The Helmet-Mounted Display market is segmented into ground-based platform, air-based platform, and naval-based platform.
• Helmet-mounted displays are extensively used in ground operations and tactical situations. Moreover, several counter-terrorism missions occur in low-light environments or during nighttime, which in turn increases the demand for these helmets.
• The widespread use of helmet-mounted displays by military personnel and a larger ground army population drive demand for ground-based platforms.
• Regional Analysis
• "North America region is anticipated to maintain its position as the largest market for helmet-mounted displays throughout the forecast period.
• North America, which is the largest military spender in the world is the key region driving the market for HMDs,
• This region is the home to several market-leading companies such as L3Harris Technologies, Inc., Raytheon Technologies Corporation, and Elbit Systems of America, LLC. These companies are also among the active contractors for the US DoD for HMDs.
• It is also estimated that Asia-Pacific will witness the fastest growth in the global market during the forecast period, due to increasing demand for advanced night vision goggles by the regional military forces and the swift rise in the overall military expenditure, especially in China and India.
• Key Players

The global market for HMD is highly competitive. With the large demand for fusion technology currently, major companies such as L3Harris Technologies, Inc. and Elbit Systems Ltd., engage in the production and provision of the fused binocular night vision devices for armed forces. The following are the key players in the helmet-mounted display market:

• Here is the list of the Top Players (Based on Dominance)
• L3Harris Technologies, Inc.
• BAE Systems
• Raytheon Technologies
• Thales Group
• Elbit Systems Ltd.
• Leonardo DRS.
• Note: The above list does not necessarily include all the top players in the market.
• Report Features
• This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
• Research Methodology
• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today's Helmet-Mounted Display Market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research Technology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research's internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white Fusion Technology, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.