Global Electronic Flight Bag (EFB) Market Size to Grow at a CAGR of 8.40% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Electronic Flight Bag (EFB) Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): More than USD 2.7 Billion
• Forecast CAGR (2023-2028): 8.40%
A tool or a device that presents applications enabling flight crews to execute various functions that were conventionally performed by using paper products is called an electronic flight bag (EFB).
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In other words, an EFB can help crew members accomplish essential flight scheduling calculations and demonstrates a range of capabilities, including digital documentation, involving navigational charts, process instruction handbooks, as well as aircraft specifications. There has been an increase in the preference to use EFBs to carry out aircraft operations efficiently, which is contributing to the electronic flight bag (EFB) market growth.
Additionally, the EFB can perform objective-constructed software functions to automate other applications generally performed manually, like take-off performance calculations. The highly developed EFBs are totally certified as a component of the aircraft avionics structure and are incorporated with aircraft systems such as the FMS.
Furthermore, these innovative and developed systems are also capable of displaying an aircraft's location on navigational charts, portray real-time weather, and accomplish several intricate flight-scheduling duties. The range of the EFB system operations may also include a variety of technologies, layouts, and ways of communication. The increasing digitalisation of the aviation industry is helping in the progress of the electronic flight bag (EFB) market.
Electronic Flight Bag (EFB) Industry Definition and Major Segments
Electronic flight bag (EFB) is an electronic information controlling tool that allows flight crews execute flight administration activities more effortlessly and effectively with the use of less paper. Furthermore, other functions that are generally conducted by hand like take-off performance calculations, are carried out automatically by the EFB's purpose-built software applications. Besides, EFB is developed predominantly for cockpit/flightdeck or cabin usage.
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Based on type, the market can be segmented into:
On the basis of component, the market has been classified into:
Based on application, the market can be categorised into:
On the basis of regions, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Electronic Flight Bag (EFB) Market Trends
The ease of an efficient Wi-Fi range to link electronic flight bags and deliver the information securely to the flight crew together with the increasing level of digitalisation of the aviation sector are fuelling the expansion of the electronic flight bag (EFB) market. The emerging concerns about safety of the passengers are leading to the extensive usage of EFBs since they bring down the chances of errors by humans and enhance on board safety.
In addition, robust development of technology is likely to propel the utilisation of EFBs so that the real-time condition and in-flight data, among others can be made more accessible. This, in turn, is leading to the development of the electronic flight bag (EFB) market.
Besides, EFBs offer fuel-saving solutions by utilising fuel data, providing airlines with effective fuel-conservation results. EFBs also lessen the use of paper, which supports in decreasing weight as well as saving fuel. With the increasing preference towards fuel-efficient airlines , the demand for electronic flight bags (EFB) is likely to surge owing to its eco-friendly disposition along with its cost-effectiveness.
Key Market Players
The major players in the electronic flight bag (EFB) market report are
• The Boeing Company
• Collins Aerospace
• Thales Group
• CMC Electronics Inc.,
• Lufthansa Systems GmbH & Co. KG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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