The global electronic flight bag market share is expected to gain traction by reaching USD 5.86 billion by 2028. This is owing to the increasing focus on the adoption of integrated & smart product solutions. This information is published by Fortune Business Insights in its report, titled “Electronic Flight Bag Market, 2021-2028.” The report further mentions that the market stood at USD 2.02 billion in 2020 and is projected to exhibit a CAGR of 10.57% between 2021 and 2028. An EFB is used to store and retrieve essential documents such as weather information, operating manuals, route information, and other information during flight operations.
DRIVING FACTORS
Increasing Adoption of Smart EFB Solutions to Promote Growth
Jeppesen has developed a suite of EFB solutions that allow efficient data communication through aircraft connectivity, distribution, reduces flight plan production and storage costs by entirely digitizing the flight briefing. Companies like them constantly focus on implementing advanced solutions to increase airline efficiency and reduce operational costs. Besides, special attention to streamlining the workflow of pilots is anticipated to surge the adoption of advanced electronic flight bags, thereby leading to exponential market growth.
REGIONAL INSIGHTS
North America – The market in the region is expected to remain dominant and hold the largest global electronic flight bag market share during the forecast period. This is owing to the increasing demand for next-generation aircraft in countries such as the U.S. North America stood at USD 0.74 billion in 2020.
Asia-Pacific – The market in the region is anticipated to showcase considerable growth in the forthcoming years. This is attributable to the rising air travel that is propelling airline operators to procure aircraft in large numbers. This is likely to surge the demand for advanced electronic flight bags in the region between 2021 and 2028.
Browse Complete Report Summary:
https://www.fortunebusinessinsights.com/electronic-flight-bag-market-103689
