April, 2023, Market Research Future Published a Report on Global Electronic Flight Bag Market
Global Electronic Flight Bag Market – Overview
According to a recent study report published by Market Research Future, the global market for electronic flight bag market will grow at a rapid pace over the forecast period. Electronic Flight Bag Market Size was valued at USD 1.5 billion in 2022. The Electronic Flight Bag market industry is projected to grow from USD 1.59 Billion in 2023 to USD 2.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2023 - 2030).
The high demand for electronic flight bag market is due to the growing need for safety of pilots, fuel-efficient aircraft, reduction in aircraft maintenance cycle, decreasing the pilot’s workload, thus increasing the participation of manufacturers. Rapid technology advancement, along with the increased focus of OEMs on strengthening aircraft capabilities, is expected to result in an increase in aircraft expenses and add to the growth of the market. However, the cost involved in the implementation of EFBs, and maintain and updating the EFB software act as a barrier to the growth of electronic flight bag market.
An electronic flight bag is a device that helps the efficiency of flight crew performance and retrieves documents required for flight operations such as operating manuals, aeronautical charts, weather information, route information, and more. The documents that can be synchronized to an EFB for a particular flight are flight log, METAR and TAF narrow route briefing, NOTAM narrow route briefing, NOTAM narrow route briefing, winds aloft, icing, significant weather, surface weather, flight plan and vertical icing chart.
Moreover, factors responsible for the growth of electronic flight bag market are safety and replacement of all paper-based manual. This is the primary factor that drives the growth of the global electronic flight bag market and has gained prevalence in the recent times, with the usage of best in class technologies in the aircraft sectors. Thus, the growth of the electronic flight bag market is expected to go hand in hand with the growth of investment in the aircraft industry.
Industry/ Innovation/ Related News:
January, 2018 – UTC Aerospace Systems signed a contract with aerospace software provider PACE to make fuel efficiency application pacelab flight profile optimizer, which helps airlines to achieve significant fuel savings.
January, 2018 – Avion Express signed an agreement with IFS – International Flight Support to support its system with paperless solutions.
April, 2015 – Rockwell Collins signed a contract with Airbus to provide the Electronic Flight Bag (EFB) interface and communication unit for the airbus A320 and A330 aircraft families.
Global Electronic Flight Bag Market – Segmentation
The global electronic flight bag market is segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type : Comprises Portable (Class 1 and Class 2) and Installed
Segmentation by Component : Comprises Hardware and Software
Segmentation by Platform : Comprises Commercial and Military
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Global Electronic Flight Bag Market:
North American region is dominating the market of the global electronic flight bag market due to growing commercial aircraft and reduction in the maintenance of aircraft.
Europe is referred to as the second-largest electronic flight bag market due to factors such as increase in spending on advancement of cockpit and increasing need for accuracy in flight operation manuals have fuelled the demand for global electronic flight bag market.
UTC Aerospace Systems (U.S.), International Flight Support (Denmark), Astronautics Corporation of America (U.S.), The Boeing Company (U.S.), Esterline CMC Electronics (Canada), NavAero AB (Sweden), Airbus Group SE (France), Rockwell Collins Inc. (U.S.), L-3 Communications Holdings Inc. (U.S.), Teledyne Controls LLC (U.S.), Thales Group (France), DAC International Inc. (U.S.), Lufthansa Systems (Germany), Flightman (Ireland) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global electronic flight bag Market.