According to a recent study report published by Market Research Future, the global market for electronic flight bag market will grow at a rapid pace over the forecast period. The market is expected to witness slow but steady growth until 2023, which will be a growing fast at a moderate CAGR during the forecast period (2017 -2023).
The high demand for electronic flight bag market is due to the growing need for safety of pilots, fuel-efficient aircraft, reduction in aircraft maintenance cycle, decreasing the pilot’s workload, thus increasing the participation of manufacturers. Rapid technology advancement, along with the increased focus of OEMs on strengthening aircraft capabilities, is expected to result in an increase in aircraft expenses and add to the growth of the market. However, the cost involved in the implementation of EFBs, and maintain and updating the EFB software act as a barrier to the growth of electronic flight bag market.
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Major key Players
UTC Aerospace Systems (U.S.),
Astronautics Corporation of America (U.S.),
The Boeing Company (U.S.),
NavAero AB (Sweden),
Airbus Group SE (France),
Rockwell Collins Inc (U.S.),
L-3 Communications Holdings, Inc, (U.S.),
Teledyne Controls LLC (U.S.),
Thales Group (France),
International Flight Support (Denmark),
Esterline CMC Electronics (Canada),
DAC International Inc (U.S.), Lufthansa Systems (Germany), Flightman (Ireland).
The report has been analyzed based on the type, application and region. On the basis of type, Class 2 segment accounts for the largest share in the global electronic flight bag market due to increase in elimination of paper, convenience and light weighted. Class 1 segment is the second largest on the basis of type and is projected to grow at a CAGR of 12.70% during the forecast period. Based on application, Commercial segment accounted for the largest market share of 51.14% in 2011, with a market value of USD 833.3 million and grew at the highest CAGR of 13.03% during the forecast period. Meanwhile, the North America Electronic Flight Bag Market is expected to reach USD 2257.3 million by 2023.
Industry/ Innovation/ Related News:
January, 2018 – UTC Aerospace Systems signed a contract with aerospace software provider PACE to make fuel efficiency application pacelab flight profile optimizer, which helps airlines to achieve significant fuel savings.
January, 2018 – Avion Express signed an agreement with IFS – International Flight Support to support its system with paperless solutions.
April, 2015 – Rockwell Collins signed a contract with Airbus to provide the Electronic Flight Bag (EFB) interface and communication unit for the airbus A320 and A330 aircraft families.
Electronic Flight Bag Market is highly competitive, and vendors compete on the basis of cost, composite material quality, reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to optimize their product development process to provide cost-effective and high-quality aerospace composite materials and parts.
The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
North American region is dominating the market of the global electronic flight bag market due to growing commercial aircraft and reduction in the maintenance of aircraft.
Europe is referred to as the second-largest electronic flight bag market due to factors such as increase in spending on advancement of cockpit and increasing need for accuracy in flight operation manuals have fuelled the demand for global electronic flight bag market.
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- Electronic flight bag manufacturers
- Distributer & Supplier companies
- End Users
- consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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