Electronic Flight Bag (EFB) Market worth 5.06 Billion USD by 2020

The electronic flight bag (EFB) market is projected 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. The market for EFB is driven by various factors, such as the rising need for accurateness in airplane performance. This report covers the forecast of the EFB market and its dynamics over the next five years, while also recognizing market applications, evolving technologies, recent developments in the market, and high potential geographic regions and countries. The report includes market dynamics, such as drivers, restraints, challenges, and opportunities, along with Porter’s Five Forces analysis and a life cycle analysis of this market. The base year considered for the study is 2014 and the forecast period is from 2015 to 2020.

The portable class 2 EFB is expected to grow at healthy growth rate during the forecast period. This type of EFB doesn’t require airworthiness approval, which makes it easier for the pilots to use EFB’s during the flight. Class 2 EFB has the advantage that it can be used during all phases of a flight. Moreover, the hardware required for class 2 EFB is low cost and can be procured from the existing vendor.