Electronic Flight Bag Market Will Hit USD 3.90 Billion with Healthy CAGR 6.5% by 2022-2028

Pune, Maharashtra -- (SBWire) -- 10/12/2022 --Market Overview, Definition, and Statistics
The electronic flight bag is a tool for managing electronic information that makes it easier for flight crews to handle flights. Operating manuals, airport information, aeronautical charts, route information, and weather are among the materials that can be stored and retrieved using an electronic flight bag. The interactive checklists, navigation displays, data link services, and interactive chart viewers are just a few of the functions that the electronic flight bag systems are capable of. In addition, certain electronic flight bags do a variety of difficult tasks in comparison to conventional paper-based items.
According to the latest market research report published by the SNS Insider, the electronic flight bag market is anticipated to cross USD 3.90 billion by 2028, with a lucrative CAGR of 6.5% during the forecast period of 2022–2028.

Book Your Free Sample Report @ https://www.snsinsider.com/sample-request/1302?utm_source=KailasRW

Drivers, Restraints, Opportunities, and Challenges
The market-leading jobs are being made easier by the expanding software advances occurring around the world. Additionally, it aids in route management to save unnecessary fuel consumption. The operational data that an electronic flight bag gives helps to increase fuel efficiency and is utilized to help protect pilots, which has a significant impact on electronic flight bag market demand.
Smaller domestic airline operators avoid deploying electronic flight bags due to their higher capital costs, which is acting as a major restraint on the growth of the electronic flight bag market on a worldwide scale. As a result, the cost associated with their adoption is substantially greater.

Impact of the COVID-19 Pandemic
COVID-19 has presented significant challenges to all industries worldwide. Producers are particularly harmed by the outbreak. Reduced aircraft production as a result of land closures and social isolation is detrimental to the market. An important airline manufacturer has been negatively impacted by the epidemic, which has fueled the growth of the electronic flight bag market. Furthermore, the industry has suffered greatly from a lack of access to raw materials. Additionally, trade and travel restrictions decreased the need for air travel, which led to a decline in both air travel and revenue.

Market Segmentation
BY TYPE
1.Portable
2.Installed

BY PLATFORM
1.Commercial Aviation
2.Business and General Aviation
3.Military Aviation

BY COMPONENT
1.Hardware
2.Software

BY END USER
1.OEM
2.Aftermarket

The commercial aviation segment is anticipated to increase at the fastest rate, according to platform. The commercial aviation industry has grown rapidly over the past few years as a result of rising air travel, rising middle-class discretionary income, and growing international trade and tourism.
The software segment is anticipated to experience the greatest CAGR for the EFB market during the anticipated time frame. Aeronautical charts may be displayed without actually knowing where the aircraft is in space thanks to EFB software, which also makes it possible to use electronic checklists.
The aftermarket segment is anticipated to develop with the greatest CAGR among end consumers during the forecast period. Companies in the aftermarket provide services for the upkeep, improvement, or replacement of EFBs. One of the most important elements influencing the need for aircraft retrofitting and, consequently, the expansion of the aftermarket industry, is the expansion of aircraft fleet sizes.

Regional Analysis
North America's electronic flight bag industry is predicted to expand quickly owing to an increase in aircraft sales volume and a decrease in aircraft maintenance expenses. The electronic flight bag market in Asia Pacific is anticipated to grow moderately. The expansion of airline spending for avionics upgrading and the rising GDP of the region can be credited for this growth in the EFB market of the Asia-Pacific region.

Competitive Landscape Outlook
Some of the prominent companies present in the electronic flight bag market include The Boeing Company, Airbus Group SE, Rockwell Collins Inc., Honeywell, Thales Group, Esterline CMC Electronics, DAC International Inc., Flightman, and Teledyne Controls LLC.

Buy This Exclusive Report @ https://www.snsinsider.com/checkout/1302?utm_source=KailasRW

Contact Us:
Akash Anand
Head of Business Development & Strategy
info@snsinsider.com
IND: +91-7798602273
US: +1-415-230-0044