The global Electronic Flight Bag (EFB) Market is taking flight, driven by the increasing demand for operational efficiency and fuel cost reduction in the aviation industry. A recent report by SNS Insider indicates the market size reached USD 2.78 Billion in 2023 and is projected to reach USD 4.48 Billion by 2031, reflecting a Compound Annual Growth Rate (CAGR) of 6.1% over the forecast period. This growth can be attributed to several factors, including the significant weight reduction achieved by replacing traditional paper flight bags with EFBs, leading to improved fuel efficiency and operational cost savings.
Growing Demand for EFBs Across Various Segments
The EFB market encompasses various segments, with the aftermarket segment holding the largest market share during the forecast period. This dominance is due to the vast number of older generation aircraft that require EFBs to be retrofitted. Airlines can procure and install EFBs based on their specific needs, with installation typically handled by aircraft system suppliers, in-house airline crews, or third-party providers. Aftermarket companies often specialize in EFB maintenance, upgrades, and replacements, catering to airlines seeking to modernize their existing fleets as a cost-effective alternative to purchasing new aircraft. On the platform front, the commercial aviation segment is projected to dominate the market share. This dominance stems from the robust growth within this sector, fuelled by factors Such as increasing air travel, rising disposable income among the middle class, and a global surge in trade and tourism activities. Airlines are actively installing EFBs in their fleets to enhance aircraft connectivity, optimize flight paths, and reduce weight. This trend is expected to continue as airlines procure new aircraft and modernize their existing fleets.
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Top Companies Featured in EFB Market Report:
– Esterline CMC Electronics
– Honeywell
– Ramco Systems
– UTC Aerospace Systems
– Teledyne Controls LLC
– DAC International Inc
– The Boeing Company
– Navarro AB
– Lufthansa Systems
– International Flight Support
– L-3 Communications Holdings Inc
– Thales Group
– Astronautics Corporation of America
– CMC Electronics
– Thales
– Airbus Group SE
– Flightman
– Rockwell Collins Inc
Recent Developments Shaping the EFB Market Landscape
- In February 2021, Korean Air, a major South Korean airline, partnered with NAVBLUE to implement the Flysmart+ EFB solution on iOS devices. This collaboration aims to optimize cockpit operations for Korean Air and enhance aircraft performance computations.
- In June 2021 saw Collins Aerospace, a Raytheon Technologies company, introduce its Electronic Cabin Bag (eCB) solution. This innovation aims to boost in-flight service efficiency, elevate the passenger experience, and minimize cabin touchpoints.
- November 2020 witnessed a collaboration agreement between NAVBLUE and Ultramain Systems to integrate Ultramain’s Electronic Logbook (ELB) with NAVBLUE’s EFB applications. This integration streamlines operations by offering both ELB and EFB functionalities within a single platform.
Impact of Global Events
The EFB market is not immune to external factors. The ongoing Russia-Ukraine war has disrupted global supply chains, impacting the production and delivery of electronic components needed for EFB manufacturing. a potential economic slowdown could lead to airline budget cuts, impacting investments in new aircraft and EFB installations. The long-term outlook for the EFB market remains positive, driven by the aforementioned factors that promote operational efficiency and cost savings.
Electronic Flight Bag (EFB) Industry Segmentation as Follows:
BY TYPE
- Portable
- Installed
BY PLATFORM
- Commercial Aviation
- Business and General Aviation
- Military Aviation
BY COMPONENT
- Hardware
- Software
BY END USER
- OEM
- Aftermarket
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Regional Growth Dynamics
The EFB market is expected to witness significant growth across various regions. North America is projected to hold the highest market share throughout the forecast period. The presence of leading EFB manufacturers Such as The Boeing Company (US), Raytheon Technologies Corporation (US), and Honeywell International Inc. (US) in the region contributes to this dominance. These companies continuously invest in research and development to create advanced EFB systems that Improve efficiency and reliability in aircraft applications. The factors Such as rapid growth in aircraft manufacturing, technological advancements, and increasing air travel further Drive market growth in North America.
Key Takeaways
- The Electronic Flight Bag market is poised for significant growth, driven by the need for operational efficiency and fuel cost reduction in the aviation industry.
- The aftermarket segment holds the dominant market share due to the large number of older generation aircraft requiring EFB retrofits.
- The commercial aviation segment is expected to dominate the platform segment due to the strong growth within this sector fuelled by rising air travel and increasing disposable income.
Table of Content – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Electronic Flight Bag Market Segmentation, By Type
9. Electronic Flight Bag Market Segmentation, By Platform
10. Electronic Flight Bag Market Segmentation, By Component
11. Electronic Flight Bag Market Segmentation, By End-User
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion
Continued….
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