The Electronic Flight Bag by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electronic Flight Bag, 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..
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.
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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
Top Major Players:
Airbus SAS
Astronautics Corporation of America
Avilution LLC
Avionics Innovations Inc.
AvioVision
North America was the largest region in the electronic flight bag market in 2023.
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.
The electronic flight bag market report table of contents includes:
1. Executive Summary
2. Electronic Flight Bag Market Characteristics
3. Electronic Flight Bag Market Trends And Strategies
4. Electronic Flight Bag Market – Macro Economic Scenario
5. Global Electronic Flight Bag Market Size and Growth
……
31. Global Electronic Flight Bag Market Competitive Benchmarking
32. Global Electronic Flight Bag Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electronic Flight Bag Market
34.Electronic Flight Bag Market Future Outlook and Potential Analysis
35. Appendix
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