New York, April 04, 2023 (GLOBE NEWSWIRE) -- By 2032, size of the global Glass Cockpit Market is anticipated to reach US$ 3.0 billion. A CAGR of 4.5% is predicted between 2023 and 2032. In 2022, it was valued at more than US$ 1.9 billion.
Despite the worldwide economic downturn, global defense spending increased in 2021 as a result of geopolitical unrest and border disputes. To enhance their aerial capabilities, the armed services are investing more money in new generations of combat aircraft.
Recent years have seen a significant advancement in cockpit technology. More information is available to the pilot with modern electronic glass cockpit systems than with analogue systems. The armed forces are modernizing their current fleet by employing glass cockpit technology as a result of these benefits.
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Digital glass cockpits are often referred to as cockpit display systems and electrical flight data systems. Digital flight sensor monitors, most of which are LCD displays, make up the systems.
Several displays are used in digital glass cockpit technology, which is managed by aviation management systems. According to the pilot's needs, they can be tailored to offer information on various flying-related topics.
Military aircraft are using multi-functional displays more frequently as a result of the advantages they offer the pilots. To improve video and imaging capabilities, contemporary military aircraft cockpits have large-format, all-glass multi-functional displays.
This enables pilots to examine a variety of video sources such as multimedia sensors and external monitor processing units. Depending on their needs, these include cameras, satellite tracking, infrared sensors, and weaponry.
Several multi-functional screens are being added to modern military aircraft to improve pilot situational awareness. For instance, Russia announced the development of its novel Checkmate fighter in July 2021. The initial flight is anticipated to occur in 2023, while regular manufacturing is anticipated to start in 2026.
Key Takeaways from Glass Cockpit Market
- The global glass cockpit market witnessed average growth at a CAGR of 2.1% from 2017 to 2021.
- The USA glass cockpit market size is set to reach US$ 957.2 million by 2032.
- The United Kingdom glass cockpit market is projected to expand at 3.7% CAGR from 2022 to 2032.
- South Korea glass cockpit market is likely to create an incremental opportunity of US$ 45.4 million in the next ten years.
- Based on display type, the primary flight display segment is anticipated to exhibit a CAGR of 4.3% in the assessment period.
“In order to improve human-machine interaction, aircraft cockpit display systems offer complex graphical interfaces with avionics and human gestures. Due to improved human-machine interactions made possible by technology improvements, glass cockpit display demand has skyrocketed.” – Says a lead analyst.
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Competitive Landscape: Glass Cockpit Market
The goal of glass cockpit makers is to improve their client experience and foster loyalty by offering exceptional customer service and support. Offering technical help, instruction, and maintenance services is one of their methods.
To enhance their products and keep one step ahead of their rivals, they are also continually spending in research & development efforts. They want to enhance user interfaces, create new features, or boost performance.
For instance,
- In August 2021, Boeing released the newest and most sophisticated version of the F-15 aircraft, known as the F-15QA. It comes with a range of upgrades. These upgrades include advanced fly-by-wire flying controls, a modern all-glass digital cockpit, advanced sensors & radar, as well as enhanced electronic warfare capabilities.
- In February 2021, DXC Technology Company, a USA-based information technology service provider, acquired Luxoft for US$ 2 billion. It was done in an effort to enhance its clients' digital requirements and retain its leadership position in the market. Luxoft, a Switzerland-based technology service provider, offers digital cockpit solutions by developing, integrating, testing, supporting, and utilizing head-unit systems, rear-seat entertainment systems, and head-up displays.
Get More Exclusive Insights into Glass Cockpit Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the glass cockpit market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
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The study reveals extensive growth in the glass cockpit in terms of aircraft type (cargo, fighter, helicopter, air transport, general aviation, trainer, business jet), display type (primary flight display, multi-function, backup display, mission display), display size (less than 5 inches, 5 inches to 10 inches, greater than 10 inches), and regions.
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