|A pilot using an EFB. Photo: Wikimedia
[Avionics Today 03-22-2016] A new report on the Electronic Flight Bag (EFB) market published by MarketsandMarkets, finds that the EFB industry is projected to reach $5.06 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 13 percent.
The needs for fuel-efficient aircraft, reduction of cost and improved operational efficiency, as well as growth in real time access to information will drive this growth.
The portable EFB type is expected to grow the highest during the forecast period while the EFB type B software market is expected to witness the highest growth between 2015 and 2020.
The report also finds that the Asia-Pacific region will show the highest growth rate in the EFB market in the next five years. The growth in Asia is primarily driven by the increase in spending on advancement of cockpit and increasing need for accuracy in flight operation manuals. This will be buoyed by the low penetration rates that currently exist in the region.