Pune, Oct. 08, 2020 (GLOBE NEWSWIRE) -- The global electronic flight bag market size is predicted to reach USD 5,426.7 million by 2027, exhibiting a CAGR of 15.17% during the forecast period. The growing number of commercial aircraft deliveries will have a positive impact on this market growth during the forecast period, states Fortune Business Insights, 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” the market size stood at USD 4,452.2 million in 2019.
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Market Driver:
Rising Adoption of EFB Solutions to Boost Growth
The growing implementation of advanced EFB solutions has led to improved efficiency and reduced operational costs in airlines. Jeppesen, an America software company announced the launch of a suite of EFB solutions. The advanced EFB tools and data communication enables aircraft connectivity, reduces flight plan production, distribution, and storage costs by entirely digitizing the flight briefing process. The surge air travel passengers will subsequently create growth opportunities for the market during the forecast period. The rising demand for technologically advanced next-generation aircraft will foster the growth of the market in the forthcoming years. Moreover, the growing concerns regarding safety and real-time access to information will consequently enable healthy growth of the market. In addition, the introduction of innovative EFB software by major companies will contribute positively to the growth of the market during the forecast period. For instance, Thales Group designed an unveiled an EFB hardware integrated with the Aviobook software suite. The new software enables a seamless connection to the avionics suite through an Aircraft Interface Device (AID).
Market Restraint:
Coronavirus Pandemic to Impede Market Potential
The COVID-19 pandemic has deleteriously impacted the global market. The decline is new aircraft deliveries during the pandemic will restrict the expansion of the market. The drop-in production and delivery by major aircraft manufacturers such as Airbus SAS and The Boeing Company will obstruct the development of the market. The disruption in the supply chain of electronic flight bags will hinder the overall production and distribution of EFB units. However, newer guidelines by numerous government organizations around the world will aid in the recovery of the global market.
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Regional Analysis:
Presence of Major Players to Augment Growth in North America
The market in North America stood at USD 1,642.4 million and is predicted to rise tremendously during the forecast period. The growth in the region is attributed to the launch of efficient EFB systems in the region. Asia Pacific is likely to witness a substantial growth rate during the forecast period owing to the surge in aircraft fleet in emerging nations such as China and India. Europe is predicted to hold the largest share in the global market owing to the increasing investment in the development of advanced cockpit. The rising necessity for accurate in-flight operation manuals will spur opportunities for the market in the region during the forecast period. Besides, the development of advanced flights will subsequently propel the market in the forthcoming years.
Key Development:
February 2018: Tunisair, the national carrier of Tunisia, signed an agreement to integrate Jeppesen Aviator services on iPad for all its flight operations. The tools provided by Jeppesen Aviator will simplify complex data access on the ground and in the air while also enabling efficient flight operations.
The Report Lists the Main Companies in the Electronic Flight Bag Market:
- Airbus SAS (the Netherlands)
- The Boeing Company (The U.S.)
- Collines Aerospace (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.)
Browse Detailed Summary of Research Report With TOC:
https://www.fortunebusinessinsights.com/electronic-flight-bag-market-103689
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the Electronic Flight Bag Market
- Supply Chain Challenges
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Electronic Flight Bag Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Portable
- Class 1
- Class 2
- Installed
- Portable
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Class 1
- Class 2
- Class 3
- Software
- Hardware
- Market Analysis, Insights and Forecast – By Platform
- Commercial
- Military
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- The Middle East & Africa
- Latin America
TOC Continued…!
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