Electronic Flight Bag Market Size, Share and 2020 Trends Analysis | Industry Forecast to 2027
Electronic
Flight Bag Market will exhibit a CAGR of 15.17% during the forecast
period, and USD 5,426.7 million by 2027, and the Market value as per 2019 was USD
4,452.2 million.
Fortune
Business Insights™ in a new report, titled, “Electronic Flight
Bag Market Size, Share & COVID-19 Impact Analysis, By Type (Portable {Class
1and 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
Strong
economic growth is a major reason for an increase in air passenger traffic.
Owing to the rising number of passengers traveling by air, the airliners are
focused on expanding their fleets. Thus, the rise in demand for air travel has
facilitated the growth of commercial aircraft, which, in turn, has increased
the demand for electronic flight bags. Moreover, the growing demand for
next-generation aircraft is expected to propel the growth of the EFB market.
The rise in aircraft deliveries in emerging economies in Asia-Pacific market is
anticipated to fuel market growth in the region.
Emphasis on Operational Efficiency in Aircraft to Support Market
Growth
The
conventional pilot’s flight bag helps the pilot in operating the aircraft and
has been replaced by an electronic flight bag, as the typical flight bag is
heavy which weighs around 40 pounds, whereas an EFB weighs around 5 pounds. The
weight advantage of the aircraft EFB is driving the growth of the market. As
lighter aircraft can aid in improving operational efficiency and reducing fuel
consumption, EFB helps in reducing the overall weight of the aircraft which
increases efficiency. Thus, the need for improving operational efficiency and
reduction of fuel cost is anticipated to boost the market growth.
Rising Safety Concerns and Real-Time Access Information to Fuel
EFB Demand
Passenger
safety is the most crucial aspect in airlines; hence resulting in the
procurement of next-generation aircraft for enhanced safety. The key factor
responsible for the growth of the EFB market is the safety aspect associated
with the use of EFB. The real-time access of information helps the pilot to
stay up to date with live weather information and also assists in route
management. Moreover, the rising fluctuations in climate change have increased
the concern towards passenger safety.
List of Key Players Covered in the Electronic Flight Bag
Market 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 table
of content and figures, Click Here: https://www.fortunebusinessinsights.com/electronic-flight-bag-market-103689
Some of the key industry developments in the Electronic
Flight 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.
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