LONDON, Oct. 5, 2016 /PRNewswire/ -- "The electronic flight bag (EFB) market is projected to reach USD 5.06 billion by the end of 2020"
According to the projections in this report, the electronic flight bag (EFB) market is estimated to grow from USD 2.73 billion in 2015 to USD 5.06 billion by 2020, at a CAGR of 13.09% during the forecast period from 2015 to 2020. Factors that drive the EFB market include increasing number of aircraft, technological advancements in display systems, increasing demand for accuracy in computing system, and availability of smaller component at lower cost.
"Software component segment to witness the highest growth during the forecast period"
The EFB software segment is expected to witness the highest growth over the hardware EFB due to its vast scope of application in each type of aircraft and flight type. The software can be easily upgraded with no replacement for the existing one. The software EFB is compatible with various hardware EFBs, which make it easier for the software manufacturers to develop applications.
"The portable class 2 EFB type provides significant opportunities for growth"
The portable EFB class 2 type is expected to exhibit highest growth rate in the EFB market during the forecast period from 2015 to 2020. This growth is mainly attributed to its capability and portability. The class 2 EFB has the capability to calculate performance figures, display charts, and improve taxi positional awareness. The portable class 2 EFB can be used during all the phases of a flight. The benefits associated with implementation of EFB by airlines include flight operations, improved safety, and enhanced document accessibility. Companies such as Jeppsen, RocketRoute and Apprimus Informatik GmbH (Avila soft) are into manufacturing the EFB software. North America is currently the largest market for portable EFBs.
"Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to register the highest growth rate in the EFB market during the forecast period from 2015 to 2020. This growth in the EFB market of Asia-Pacific region can be attributed to increase in airlines spending for avionics modernization and the growing GDP of the region.
Break-up of profile of primary participants for the report has been given below.
- By Company Type - Tier 1 - 45%, Tier 2 - 35% and Tier 3 - 20%
- By Designation – C level – 50%, Director level – 35%, Engineer level – 15%
- By Region – North America – 44%, Europe – 35%, APAC – 15%, RoW – 6%
The EFB has evolved over the course of time in terms of technology used. The advanced technology replaces the huge amount of paper in cockpits. The overall focus over the years has remained on increasing the accuracy and reducing the overall time taken before the airplane take-off.
Major companies profiled in the report include Airbus Group SE (Europe), Rockwell Collins Inc. (United States), UTC Aerospace Systems (United States), L-3 Communications Holdings Inc. (United States) and Teledyne Controls (United States), among others.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, supply-chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the EFB market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on EFB offered by top players in the global inertial navigation system market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the EFB market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses the markets for EFB across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the EFB market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the EFB market
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