Electronic Flight Bag Market Size and Share Analysis | Industry Growth Forecast to 2027
ElectronicFlight Bag Market will exhibit a CAGR of 15.17% during the forecastperiod, and USD 5,426.7 million by 2027, and the Market value as per 2019 was USD4,452.2 million.
FortuneBusiness Insights™ in a new report, titled, “Electronic FlightBag Market Size, Share & COVID-19 Impact Analysis, By Type (Portable {Class1and Class 2} and Installed), By Component (Hardware and Software), By Platform(Commercial and Military), and Regional Forecast, 2020-2027.”
Electronic Flight Bag Market Drivers and Restraint:
Surge in Commercial Aircraft Deliveries to Boost the Market Growth
Strongeconomic growth is a major reason for an increase in air passenger traffic.Owing to the rising number of passengers traveling by air, the airliners arefocused on expanding their fleets. Thus, the rise in demand for air travel hasfacilitated the growth of commercial aircraft, which, in turn, has increasedthe demand for electronic flight bags. Moreover, the growing demand fornext-generation aircraft is expected to propel the growth of the EFB market.The rise in aircraft deliveries in emerging economies in Asia-Pacific market isanticipated to fuel market growth in the region.
Emphasis on Operational Efficiency in Aircraft to Support MarketGrowth
Theconventional pilot’s flight bag helps the pilot in operating the aircraft andhas been replaced by an electronic flight bag, as the typical flight bag isheavy which weighs around 40 pounds, whereas an EFB weighs around 5 pounds. Theweight advantage of the aircraft EFB is driving the growth of the market. Aslighter aircraft can aid in improving operational efficiency and reducing fuelconsumption, EFB helps in reducing the overall weight of the aircraft whichincreases efficiency. Thus, the need for improving operational efficiency andreduction of fuel cost is anticipated to boost the market growth.
Rising Safety Concerns and Real-Time Access Information to FuelEFB Demand
Passengersafety is the most crucial aspect in airlines; hence resulting in theprocurement of next-generation aircraft for enhanced safety. The key factorresponsible for the growth of the EFB market is the safety aspect associatedwith the use of EFB. The real-time access of information helps the pilot tostay up to date with live weather information and also assists in routemanagement. Moreover, the rising fluctuations in climate change have increasedthe concern towards passenger safety.
List of Key Players Covered in the Electronic Flight BagMarket Report:
- AirbusSAS (the Netherlands)
- The Boeing Company (The U.S.)
- Collins Aerospace, a Raytheon Technologies company (The U.S.)
- L3Harris Technologies Inc.(The U.S.)
- Thales Group (France)
- CMC Electronics Inc. (Canada)
- Jeppesen (The U.S.)
- Astronautics Corporation of America (The U.S.)
- Lufthansa Systems (Germany)
- DAC International, Inc. (The U.S.)
- Teledyne Controls (The U.S.)
- Esterline Technologies Corporation (The U.S.)
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/electronic-flight-bag-market-103689
Some of the key industry developments in the ElectronicFlight Bag Market Include:
- July 2020 – Boeing Global Services had signed an agreement with Asian airlines such as Japan Airlines, All Nippon Airways, and Xiamen Airlines. Boeing Global Services will provide an optimized maintenance program that will enable advanced data analytics. In this agreement, the company will also install advanced EFB systems in carriers
- July 2020 –Aero K Airlines is a startup carrier based in South Korea. This company had a partnership with Skytrax Systems to integrate mobile data coverage to its fleet of Airbus A320s operated on domestic and international flights. This will strengthen its partnership in the coming years.
