New York, US, May 09, 2023 (GLOBE NEWSWIRE) -- According To Latest Research Report On Electronic Flight Bag (EFB) Market Research Report: Information by Type, By Platform, Component, and Region - Forecast till 2030 By MRFR
Electronic Flight Bag (EFB) Market Overview:
The global electronic flight bag market is likely to demonstrate notable revenue growth during the current decade. Growing investments in technology development would drive the market. According to Market Research Future (MRFR), the global electronic flight bag market value is poised to escalate from USD 1.5 billion in 2022 to USD 2.2 billion by 2030, registering a 6.10% CAGR during the assessment period (2023-2030).
An Electronic Flight Bag (EFB) is a digital app device used on an iPad or tablet on a flight deck, where all the flight briefing information, including flight charts and documentation, is stored to help improve the performance & efficiency of the pilot and flight crews' workflow. An EFB app contains and integrates huge amounts of flight information, including the operational flight plan & schedule, crew rosters, load sheets, weather/ NOTAM data, and much more.
Thus, the device saves a significant amount of paper loads and reduces flight weight, helping to improve flight performance and efficiency. Also, EFBs can calculate certain aviation data such as fuel usage, flight performance, and weight & balance. An electronic flight bag also works as a communication channel for flight dispatchers, enabling messaging services for pilots and aviation staff to exchange flight briefing updates using flight dispatch software.
Using an electronic flight bag offers many benefits to the flight crew and airlines, such as cost savings due to reduced aircraft weight, increased fuel efficiency, and more payload, as well as improved staff efficiency, reduced paper consumption & process, increased safety removing manual processes & less human error, and improved communication between ground team & flight crew.
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Airline companies are increasingly utilizing electronic flight bags to optimize aircraft speed based on fuel consumption. Aviation Administration agencies worldwide are rapidly developing frameworks and policies for adopting ever-evolving EFB technology to meet the industry's demands. Utilizing the Cost Index and flight management systems available in FEB helps optimize aircraft speed and fuel consumption.
Therefore, EFB software will continue to provide efficient improvements for airlines and operators. In addition to connecting the airlines' workflow, an electronic flight bag allows streamlined communications with flight dispatchers and pilots to help ensure the efficiency of the flight crew's workloads.
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 2.2 billion |
| CAGR | 6.10% (2023–2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Platform, By Hardware and Software And By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Vendors focused on removing paper-based information |
Key players :
- Honeywell
- Esterline CMC Electronics
- Ramco Systems
- Teledyne Controls LLC
- UTC Aerospace Systems
- DAC International Inc
- Navarro AB
- The Boeing Company
- Lufthansa Systems
- International Flight Support
- and Astronautics
Competitive Analysis:
Several giant players are operating in the global electronic flight bag market, forming a competitive landscape. With their strong global presence, these players make the market appear highly competitive and fragmented. Well-established players incorporate acquisitions, collaborations, partnerships, expansions, and product & technology launches to stay ahead in market competition.
For instance, on Oct.20, 2022, Sky4Sim, a tablet developer and manufacturer, announced the successful EFB add-on on its Sky4Sim Pad for Microsoft Flight Simulator. In addition, to the flight information management, the upgraded Sky4Sim pad allows users to view weather reports, build/upload a flight plan, take notes & keep a pilot logbook.
The system also provides options to overlay navaids and airports while allowing them to filter by ILS and the availability of night lighting. The new free version of its tablet will be available from Oct.25, 2022. Existing Sky4Sim Pad users would immediately and automatically gain access to this electronic information management system.
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Electronic Flight Bag Market Segmentation:
The electronic flight bag market report is segmented into types, components, platforms, and regions. The type of segment is sub-segmented into portable and installed. The portable segment dominates the market due to its functionality and convenience. The platform segment is sub-segmented into commercial and military. The commercial segment holds the largest market share with the rise in air travel and improving economies worldwide, which create significant demand for commercial aircraft fleets.
The component segment is sub-segmented into hardware and software. Of these, the hardware segment dominates the market due to F.B. devices that can store and display a wide range of aviation data/perform simple calculations on fuel loading or aircraft performance, as well as provide additional information for take off & landing. By regions, the electronic flight bag market is segmented into North America, Europe, Asia-Pacific, and rest-of-the-world (RoW).
Regional Analysis
North America dominates the global electronic flight bag market, headed by large technological advances and the need to increase safety features in aircraft. Besides, the presence of major commercial aircraft manufacturers, large airlines such as American Airlines & United Airlines, and key industry players, such as Boeing, Teledyne Controls, and Honeywell, impact the market growth positively. With surging commercial aircraft fleets, the US accounts for the largest share of the North American electronic flight bag market.
Europe accounts for the second-biggest share of the global electronic flight bag market. Germany is the largest market in the region due to the large availability of advanced cockpit solutions. Also, the UK holds a considerable market share in the European electronic flight bag market due to the increasing demand for accurate in-flight operation technologies. Moreover, increasing military aircraft in France and Italy contribute to regional market growth.
Browse In-depth Market Research Report (132 Pages) on Electronic Flight Bag Market: https://www.marketresearchfuture.com/reports/electronic-flight-bag-market-2562
The Asia Pacific region is a rapidly growing market for electronic flight bags globally. High investments in developing futuristic electronic flight bags & cockpit advancement and the massive demand for more accurate in-flight operation manuals drive the regional market. Moreover, the spurring rise in the aircraft industry and growing focus on fuel-efficient solutions. The APAC electronic flight bag market is expected to grow rapidly during the forecast period.
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