Electronic Flight Bag Report Market 2024 Size, Share, Latest Trends, Demand, Growth And Forecast 2033

The electronic flight bag market size has grown rapidly in recent years. It will grow from $3.34 billion in 2023 to $3.71 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to fuel efficiency and cost reduction, environmental considerations, safety and situational awareness, operational efficiency, industry endorsement and acceptance.

The electronic flight bag market size is expected to see rapid growth in the next few years. It will grow to $5.76 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to integration with next-generation aircraft, transition to paperless cockpits, emphasis on safety measures, cost-efficiency measures, increased air traffic. Major trends in the forecast period include mobile device evolution, data analytics and connectivity, integration of advanced features, cybersecurity measures, cloud-based solutions.

Market Overview -
An Electronic Flight Bag (EFB) is an electronic device designed to manage information and enhance the efficiency of flight management tasks performed by the flight crew. An Electronic Flight Bag (EFB) is a digital device that electronically stores and retrieves documents necessary for flight operations, including operating manuals, aeronautical charts, airport information, route information, weather information, flight logs, and other pertinent data.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9954&type=smp

Skyrocketing Air Travel Demands Propel Growth In The Electronic Flight Bag (EFB) Market
The rising demand for air travel is expected to propel the growth of the electronic flight bag market going forward. Increase in air travel is due to a growing global economy and the availability of low-cost airlines. The electronic flight bag (EFB) refers to the system that enables electronic documents to be transferred and managed in flight. For instance, in March 2023, according to the International Air Transport Association (IATA), a Canadian organization that advocates for airlines and sets global standards for safety, security, and efficiency, reported a 67.0% increase in total air traffic (measured in revenue passenger kilometers) in January 2023, compared to the same period in 2022. Globally, international air traffic was at 84.2% of January 2019 levels, that climbed to 104.0% in January 2023, with all markets recording strong growth. Therefore, the rising demand for air travel drives the electronic flight bag market.

Competitive Landscape -
Major companies operating in the electronic flight bag market report are Airbus SAS, Astronautics Corporation of America, Avilution LLC, Avionics Innovations Inc., AvioVision, Bluebox Aviation Systems Ltd., Boeing Digital Solutions Inc., CMC Electronics Inc., DAC International Inc., Shanghai Deer Jet Aviation Co.Ltd., Esterline Technologies Corporation, Flightman, Flygprestanda AB, GE Aviation, Honeywell International Inc., International Flight Support, L3Harris Technologies Inc., Lufthansa Systems GmbH & Co. KG., Navarro AB, Raytheon Technologies Corporation, Rockwell Collins Inc., Teledyne Technologies Inc., The Boeing Company, Thales Group, Universal Avionics Systems Corporation, AirFusion Inc., Apprimus Informatik GmbH, Anuvu Operations LLC, Collins Aerospace, Scandinavian Avionics A/S .

Innovative Electronic Flight Bag (EFB) To Enhance Cockpit Operations
Product innovations are a key trend gaining popularity in the electronic flight bag market. Major companies operating in the market are introducing innovative products to sustain their position in the electronic flight bag market. For instance, in June 2021, Wizz Air, the greenest ultra-low-cost airline based in Hungary, launched its new electronic flight bag (EFB), a technical solution that will replace all printed onboard manuals and materials with iPads for pilots. The implementation of the new Electronic Flight Bag (EFB) system improves the efficiency of all flight planning processes, while also reducing paper use and fuel consumption in line with Wizz Air's sustainability commitments, thereby contributing to the airline's aim to further reduce its carbon emissions and environmental impact.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/electronic-flight-bag-global-market-report

Key Segments -
The electronic flight bag market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Type: Portable, Installed
3) By Platform: Commercial, Military
4) By Applications: Flight Crew Operating Manuals, Static Or Dynamic Electronic Charts, Planning, Zooming, Scrolling
5) By End Use: OEM, Aftermarket

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.