A multi-projection display consists of multiple projection units. Because of the large amount of data, a multi-projection system shows large, high-quality images. According to the projection geometry and the optical configuration, multi-projection systems show different viewing characteristics for generated three-dimensional images. In this paper, we analyzed the various projection geometries of multi-projection systems, and explained the different depth-expression characteristics for each individual projection geometry. We also demonstrated the depth-expression characteristic of an experimental multi-projection system.