LONDON–(BUSINESS WIRE)–The new commercial aircraft electronic flight bag (EFB) systems market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
The #commercialaircraftelectronicflightbag(efb)systems market will grow by $ 731.49 mn during 2020-2024, according to @TechnavioTweet this
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“One of the primary growth drivers for this market is the use of advanced avionics systems for commercial aircraft,” says a senior analyst for industrials at Technavio. “The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the commercial aircraft electronic flight bag (EFB) systems market size to grow by USD 731.49 million during the period 2020-2024.”
Commercial Aircraft Electronic Flight Bag (EFB) Systems Market Segment Highlights for 2020
- The commercial aircraft electronic flight bag systems market is expected to post a year-over-year growth rate of 6.98%.
- Based on the end-user, the Class I/A B C segment saw maximum growth in 2019. The use of advanced avionics systems for commercial aircraft will offer immense growth opportunities is driving the market.
- The growth of the segment will be significant during the forecast period.
Regional Analysis
- 34% of the growth will originate from the North America region.
- The advances in technologies will significantly influence the commercial aircraft electronic flight bag (EFB) systems market’s growth in this region. North America will offer several growth opportunities to market vendors during the forecast period.
- The US is a key market for commercial aircraft electronic flight bag (EFB) systems in North America.
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Notes:
- The commercial aircraft electronic flight bag systems market size is expected to accelerate at a CAGR of about 8% during the forecast period.
- The commercial aircraft electronic flight bag systems market is segmented by end-user (Class I/A B C, Class II/A B C, and Class III/A B C) and geography (North America, APAC, Europe, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Airbus SE, Astronautics Corporation of America, CMC Electronics Inc., Global Eagle Entertainment Inc., Honeywell International Inc., L3Harris Technologies Inc., Raytheon Technologies Corp., Teledyne Technologies Inc., Thales Group, and The Boeing Co.
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