New York, United States –
As per the report published by The Brainy Insights, the global electronic flight bag market is expected to grow from USD 3.59 billion in 2023 to USD 8.25 billion by 2031, at a CAGR of 10.94% during the forecast period 2023-2031. North American region emerged as the largest global electronic flight bag market, with a 48.35% market revenue share in 2023. The increasing safety concerns and real-time access to information propel the market’s growth in this region. Furthermore, the presence of several EFB manufacturers, along with the rising necessity for accurate in-flight operation manuals, are anticipated to drive market growth in this region. In addition, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the rising investment in developing advanced cockpits.
Get a Sample PDF of the Report at – https://www.thebrainyinsights.com/enquiry/sample-request/13254
Leading companies in the industry include Astronautics Corporation of America, Airbus SAS, Collins Aerospace, CMC Electronics Inc., Esterline CMC Electronics, DAC International Inc., International Flight Support, Flightman, Teledyne Controls LLC, Honeywell International Inc., Lufthansa Systems, Rockwell Collins Inc., L3Harris Technologies Inc., The Boeing Company, Thales Group, Navarro AB, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The application segment is divided into military, commercial, personal, and others. The commercial segment led the market with a market share of 28.11% in 2023. This growth is attributed to the rising commercial aircraft fleet and deliveries worldwide. The type segment is divided into installed and portable. The portable segment led the market with a market share of 54.23% in 2023. This growth is attributed to the rising general aviation and increased air transportation. The component segment is divided into software and hardware. The hardware segment led the market with a market share of 55.16% in 2023. This growth is attributed to the increase in airline spending for avionics modernization.
The increasing number of air travel passengers and ever-increasing commercial airline deliveries drive the electronic flight bag market’s growth. Further, the growing demand for enhanced operational efficiency and the development of advanced flights are helping stimulate the growth of electronic flight bags during the forecast period. Additionally, the rise in the need for fuel-efficient aircraft and the reduction in aircraft maintenance cycle is also helping to boost market growth over the forecast period. However, the increased trade and tourism worldwide, coupled with an increasing middle-class expendable income, are anticipated to drive market growth over the forecast period.
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Trending Report in ICT Industry (Book Now with Discount):
Business Jets Market
Global business jets market is expected to reach USD 40.67 billion by 2030, at a CAGR of 4.1% from 2022 to 2030.
Media Contact
Avinash D
Organization: The Brainy Insights
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com