openPR Logo
Press release

Electronic Flight Bag Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

01-24-2022 06:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

According to a research report "Electronic Flight Bag Market by Component (Hardware and Software), End User (OEM, Aftermarket), Application, Platform (Commercial Aviation, Business and General Aviation and Military Aviation), and Region - Forecast to 2026" published by MarketsandMarkets, the electronic flight bag (EFB) market is estimated to grow from USD 2.4 billion in 2021 to USD 3.3 billion by 2026, at a CAGR of 6.2% from 2021 to 2026. Some of the major factors driving this market include reduction in aircraft weight through EFB incorporation, increase in aircraft deliveries, real-time data sharing through EFBs, and the use of EFBs for helicopters and eVTOL vehicles.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=187615160

The COVID-19 pandemic is ushering in many challenges to industrial manufacturers globally, particularly those that depend on workers whose jobs cannot be done remotely; for example, the original equipment manufacturers (OEMs) of the aerospace industries. The US is home to some key market players for OEMs related to automotive and aerospace industries, such as Boeing, Thales, Honeywell, etc. According to a survey of the National Association of Manufacturers (NAM) (US) in 2020, nearly 80% of manufacturers anticipate that the pandemic will have a financial impact on their enterprise. That is substantially higher than the 48% of cross-industry firms concerned about the same impact, based on a recent 2020 PwC survey. Some key industrial companies had shut down facilities and are considering layoffs to prevent the spread of the virus as well as for economic purposes in. The manufacturing sector, which employed some 13 million workers in the US, was poised to be hit hard, as decelerated economic activity has decreased demand for industrial products in the US and globally. The situation has started improving post 2020.

Electronic flight bag market in North America is projected to hold the highest market share during the forecast period. The growth of the market in this region can be attributed to the presence of several EFB manufacturers such as Boeing (US), Collins Aerospace, (US) and Honeywell International, Inc (US), among others. These major market players continuously invest in R&D to develop EFB systems for aircraft applications with improved efficiency and reliability.

Rise in orders for narrow-body aircraft to drive segment

The demand for domestic air travel has been increasing over the years in countries such as the US, the UK, Australia, and India. With the increase in air travel, the demand for narrow-body aircraft is expected to grow across the world. The increased amount of aircraft deliveries and orders booked would act as a driver for the EFB market.

Aftermarket installation for older fleets boosts the end user segment

Aftermarket companies offer services related to the maintenance, upgrade, or replacement of EFBs. Increasing aircraft fleet sizes is one of the most significant factors contributing to the demand for aircraft retrofitting, thereby driving the growth of the aftermarket segment.

Airlines buy aircraft EFBs as per their requirements and install them in aircraft. Installation during this stage is majorly done by the supplier of aircraft systems, an in-house airline installation crew, or by a third party.

High functionality, advanced functions, and compatibility with PEDs drive software segment
EFB software enables the independent performance of calculations required for the operation of the aircraft, the display of aeronautical charts without actual aircraft position, and the use of electronic checklists. It uses the Internet and aircraft operational communication links, displays weather information, or facilitates aircraft video camera surveillance displays. This type of software is typically used by business & general aviation aircraft or by commercial carriers with older fleets that lack advanced avionics or hardware. As a result of the above, Type B is projected to be the fastest-growing software segment at a CAGR of 7.3% during the forecast period.

Weight reduction in commercial aircraft boost segment growth

The Airbus A350 XWB, Boeing B787, and Boeing B777X are some examples of commercial aircraft. The increasing passenger travel across the world has raised the demand for these aircraft, especially for long-haul travel. According to Airbus and Boeing, this is expected to be the fastest-growing aircraft segment in commercial aviation by 2039.

EFBs are widely used in commercial aircraft for flight planning, process checklists, weather reporting, and navigation. They have also reportedly reduced as much as 60 kg from the flight deck by elimination of paper manuals and charts in the flight decks of Iberia, a Spanish airline. This segment is projected to grow the least at a CAGR of 6.3% from 2021 to 2026.

Growing procurement of fighter aircraft to fuel demand for electronic flight bags during the forecast period

A fighter aircraft is designed primarily to secure control of airspace by destroying enemy aircraft in combat. They must be armed with specialized weapons capable of hitting and destroying enemy aircraft. The rising need to gain airborne dominance across the globe will drive the fighter aircraft segment during the forecast period. Players such as Collins Aerospace (US) manufacture EFBs for combat applications. The growing procurement of fighter aircraft by various countries is expected to fuel the demand for electronic flight bags during the forecast period. This segment is projected to grow at the highest rate of 4.7%.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=187615160

The North American market is projected to contribute the largest share from 2021 to 2026

Based on Region, North America is projected to hold the highest market share during the forecast period. The US is expected to lead the North American electronic flight bag market in 2021. The growth of the market in this region can be attributed to the presence of several EFB manufacturers such as Boeing (US), Collins Aerospace, (US), and Honeywell International, Inc (US), among others. These major market players continuously invest in R&D to develop EFB systems for aircraft applications with improved efficiency and reliability.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electronic Flight Bag Market Set to Grow at the Fastest Rate- Time to Grow your Revenue here

News-ID: 2535690 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for EFB

Global Electronic Flight Bag (EFB) Software Market Size, Share and Forecast By K …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to the Market Research Intellect, the global Electronic Flight Bag (EFB) Software market is projected to grow at a robust compound annual growth rate (CAGR) of 15.57% from 2024 to 2031. Starting with a valuation of 7.04 Billion in 2024, the market is expected to reach approximately 16.77 Billion by 2031, driven by factors such as Electronic Flight Bag (EFB) Software and Electronic Flight Bag (EFB)
Electronic Flight Bag (EFB) Software Market to Witness the Highest Growth in Com …
A complete study of the global Electronic Flight Bag (EFB) Software Market is carried out by the analysts in this report, taking into consideration key factors like drivers, challenges, recent trends, opportunities, advancements, and competitive landscape. This report offers a clear understanding of the present as well as future scenarios of the global Electronic Flight Bag (EFB) Software industry. Research techniques like PESTLE and Porter's Five Forces analysis have been
Electronic Flight Bag (EFB) Software Market 2023 | Futuristic Technology- Logipa …
The Electronic Flight Bag (EFB) Software report compiles the market information depending upon market development and growth factors, optimizing the growth path. In addition, it highlights the strategies and market share of the leading vendors in the particular market. The report follows a robust research methodology model that helps to make informed decisions. It obtains both qualitative and quantitative market information supported by primary research. The Electronic Flight Bag (EFB) Software
Unparalleled Research on Electronic Flight Bag (EFB) Software Market With Curren …
Stratagem Market Insights announces the publication of its most recently generated research report titled, "Electronic Flight Bag (EFB) Software Market - Forecast to 2030", which offers a holistic view of the Electronic Flight Bag (EFB) Software market through systematic segmentation that covers every aspect of the target market. Electronic Flight Bag (EFB) Software with 100+ market data Tables, Pie Chat, Graphs and Figures spread through Pages and easy-to-understand detailed analysis.
Electronic Flight Bag (EFB) Software Market: Profiling Players to Witness Massiv …
The Electronic Flight Bag (EFB) Software market research report is proficient and top to bottom research by specialists on the current state of the industry. This statistical surveying report gives the most up to date industry information and industry future patterns, enabling you to distinguish the items and end clients driving income development and benefit. It centres around the real drivers and restrictions for the key players and present challenge
Electronic Flight Bag (EFB) Software Market to Witness Huge Growth by Key Player …
The Electronic Flight Bag (EFB) Software report compiles the market information depending upon market development and growth factors, optimizing the growth path. In addition, it highlights the strategies and market share of the leading vendors in the particular market. The report follows a robust research methodology model that helps to make informed decisions. It obtains both qualitative and quantitative market information supported by primary research. The Electronic Flight Bag (EFB) Software