Pune, April 20, 2023 (GLOBE NEWSWIRE) -- "The Electronic Flight Bag Market had a worth of USD 2.67 billion in 2022, and it is anticipated to attain USD 4.42 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 6.5% during the estimated period from 2023 to 2030, as per SNS Insider".
Market Report Scope
Electronic Flight Bag (EFB) is a technological innovation that has been transforming the aviation industry. It is essentially a digital device used by pilots and flight crews to replace traditional paper-based manuals, charts, and navigational documents. The EFB offers a wide range of capabilities such as flight planning, weather updates, airport database, weight and balance calculations, and performance monitoring.
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Market Analysis
The electronic flight bag market is driven by a number of factors, including the increasing demand for fuel-efficient aircraft and the need to reduce carbon emissions. With the rising concerns about climate change and environmental degradation, airlines are under pressure to improve their fuel efficiency and reduce their carbon footprint. Another key driver for the EFB market is the growing demand for real-time data and analytics. The EFB provides pilots and flight crews with access to a wide range of data, including weather updates, airport information, and flight performance data. This real-time data can be used to improve decision-making, enhance safety, and increase operational efficiency.
Impact of Recession
The electronic flight bag market has been resilient to economic downturns in the past, but the impact of a recession on this market cannot be ignored. During a recession, airlines may face financial challenges and may be less willing to invest in new technologies such as EFBs. However, despite these potential challenges, the EFB market may still continue to grow during a recession. The EFB offers a range of benefits such as improved safety, increased efficiency, and reduced costs, which can be especially valuable during difficult economic times.
Key Regional Development
The global electronic flight bag market is expected to experience significant growth, driven by the increasing demand for advanced aviation technology across different regions. North America has been leading the market, with the highest revenue share owing to the presence of numerous EFB manufacturers. With the rapid expansion of aircraft manufacturing, technological advancements, and rising air traffic, the EFB market in this region is expected to grow significantly in the coming years.
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Key Takeaway from Electronic Flight Bag Market Study
- The market is witnessing a significant growth trajectory, with the portable segment expected to register high growth in the coming years. EFBs have revolutionized the aviation industry by providing pilots with digital information at their fingertips, replacing traditional paper-based flight manuals and charts.
- The market is projected to experience substantial growth in the coming years, with the commercial aviation segment expected to dominate the market. The commercial aviation segment has been a significant user of EFBs due to the need for operational efficiency and enhanced safety measures in the aviation industry.
Recent Developments Related to Electronic Flight Bag Market
- Inmarsat, a leading provider of global mobile satellite communications services, has partnered with Teledyne Controls to support digital operations of airlines across Europe as part of the Iris Programme. This partnership aims to provide a comprehensive solution that enables airlines to enhance their operational efficiency and improve the passenger experience.
- The Civil Aviation Safety Authority (CASA) of Australia has recently approved ForeFlight, an electronic flight bag (EFB) for use by pilots operating in Australia. This approval is a significant milestone for ForeFlight, as it is now recognized as a reliable EFB solution that meets the safety standards set by CASA.
Electronic Flight Bag Market Scope:.
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.67 Billion |
| Market Size by 2030 | US$ 4.42 Billion |
| CAGR | CAGR of 6.5% From 2023 to 2030 |
| Key Segments | • by type (Portable, Installed) • by Platform (Commercial Aviation, Business and General Aviation, Military Aviation) • by component (Hardware, Software) • by End-user (OEM, Aftermarket) |
| Company Profiles | Esterline CMC Electronics, Honeywell, Ramco Systems UTC Aerospace Systems,m Teledyne Controls LLC, DAC International Inc, The Boeing Company, Navarro AB, Lufthansa Systems, International Flight Support |
| Market Drivers | • Increasing number of commercial aircraft. • Increasing demand for air travel. |
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Electronic Flight Bag Market Segmentation, by type
9. Global Electronic Flight Bag Market Segmentation, by Platform
10. Global Electronic Flight Bag Market Segmentation, By Component
11. Global Electronic Flight Bag Market Segmentation, By End-User
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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