Electronic Flight Bag (EFB) Market worth 5.06 Bn USD by 2020
The report, now available on ASDReports, "Electronic Flight Bag (EFB) Market by Type (Portable (Class 1, Class 2) & Installed), Component (Hardware (Class 1, Class 2, Class 3), Software (Type A, Type B, & Type C)), & Geography - Global Forecasts to 2020", The electronic flight market (EFB) market is projected to reach USD 5.06 Billion by 2020, at a CAGR of 13.09%. A number of factors such as need of fuel efficient aircrafts, reduction of cost and improved operational efficiency and, growth in real time access to information, will drive the growth of the EFB market.
The portable EFB type is expected to grow the highest during the forecast period
The global portable EFB market has been sub-segmented and analyzed in terms of two type, namely, Class 1 and Class 2, wherein, the class 2 type EFBs dominates the overall market, and is expected to exhibit a similar trend during the next five years.
Electronic Flight Bag (EFB) Market - Global Forecasts to 2020
The EFB type B software market is expected to witness the highest growth during the review period from 2015-2020
The EFB type B software includes display approach charts, weight and balance calculator, and updated weather information delivery system. These features are not available in the type A software. This is expected to increase the demand for type B software of the EFB during the forecast period.
The type B software applications make the work of a pilot so effective that from a single device, he/she can access different documents/information, which makes the flight operations effective and efficient. It also helps the pilot to take decision in emergency cases, such as bad weather, air traffic, etc.
Asia-pacific region to show the highest growth rate in electronic flight bag market during the period 2015-2020
The Asia-Pacific region is estimated to grow at the highest CAGR during the forecast period. This segment will register highest growth for the studied market, primarily driven by the increase in spending on advancement of cockpit and increasing need for accuracy in flight operation manuals. The other major reason for the growth of EFB in the Asia – Pacific region is the low penetration level of EFBs in the region.
Prominent companies in this market consist of well-established financially-stable manufacturers of the EFB. These companies consist of players who have been operating in this domain for several years and possess a diversified product portfolio, and advanced technologies, along with strong sales and marketing networks, globally. The major players in this market have been identified as 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).
The EFB market is segmented on the basis of type (portable (class 1, class 2) and installed (Class 3)), component (hardware (class 1, class 2, and class 3) and software (type A, type B and type C) and region. The scope of the report covers detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the PMMA microspheres market.
Source : ASDReports - Market Research - view original press release