Global Electronic Flight Instrument System Efis Market Size By Aircraft Type, By Component, By Display Type, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Electronic Flight Instrument System Efis Market Size And Forecast
Electronic Flight Instrument System Efis Market size was valued at USD 633.7 Million in 2023 and is projected to reach USD 789.1 Million by 2030,growing at a CAGR of 3.2%during the forecast period 2024-2030.
Global Electronic Flight Instrument System Efis Market Drivers
The market drivers for the Electronic Flight Instrument System Efis Market can be influenced by various factors. These may include
Modernization of Aircraft To improve overall operational efficiency and safety, there is a growing need to update current aircraft with cutting-edge avionics equipment, such as EFIS.
Growing Air Travel In order to satisfy the growing demands for effective navigation and communication, the aviation sector and commercial air travel are expanding, which is pushing the need for sophisticated electronic flight instrument systems.
Aviation regulations Strict rules and directives pertaining to the installation of EFIS and other advanced avionics systems in order to guarantee adherence to safety requirements and improve overall aircraft performance.
Technological Developments The use of EFIS for greater situational awareness and navigation is being fueled by ongoing developments in avionics technologies, such as better displays, sensors, and integration capabilities.
Fuel Efficiency and Cost Savings By utilising EFIS’s sophisticated navigation and monitoring features, airlines and aircraft operators are progressively implementing this technology to maximise fuel efficiency, lower operating expenses, and enhance overall flight efficiency.
Growing Aircraft Deliveries The need for EFIS as a standard feature in contemporary aircraft is being fueled by the rising number of aircraft deliveries, particularly in the commercial aviation industry.
Safety and Situational Awareness The integration of advanced EFIS is being driven by the emphasis on improving flight safety and situational awareness, which provides pilots with greater decision-making capabilities and real-time information.
Rise in Defence funds For better mission capabilities and overall operational effectiveness, military aircraft are adopting modern avionics, such as EFIS, thanks to increased defence funds in a number of nations.
Expanding General Aviation Sector As smaller aircraft’s navigation and communication requirements change, EFIS adoption is being aided by the general aviation sector’s growth, which includes business and regional aviation.
Global Air Traffic Growth As a result of the increased air travel worldwide, there is a need for increasingly advanced avionics systems. An essential component of these systems is the electronic flight information system (EFIS), which keeps planes operating safely and efficiently in crowded airspace.
Global Electronic Flight Instrument System Efis Market Restraints
Several factors can act as restraints or challenges for the Electronic Flight Instrument System Efis Market. These may include
High Initial Costs EFIS technology acquisition and implementation require a sizable upfront expenditure, which might be a barrier for smaller airlines and operators with tighter budgets.
Integration Difficulties There are difficulties in integrating EFIS with current avionics systems due to their complexity, which could delay the uptake of these systems and prevent smooth compatibility.
Strict Certification Procedures Aviation authorities have established strict certification procedures and requirements for avionics systems, such as EFIS. These procedures can cause delays in product approval and market introduction, which can impact the adoption rate as a whole.
Cybersecurity Risks As aviation relies more and more on electronic systems, cybersecurity risks become more pressing. Additionally, the integration of EFIS systems creates new vulnerabilities that call for the implementation of strong cybersecurity safeguards.
Training Needs Pilots and maintenance staff must undergo specific training in order to switch from conventional analogue instruments to EFIS, which raises the overall cost and may cause adoption resistance.
Restricted Retrofit Options Operators with existing fleets may find it difficult to update without significant alterations if their older aircraft cannot support EFIS retrofit solutions.
Market Consolidation In the absence of a competitive market environment, the dominance of a small number of major competitors in the EFIS industry may limit competition, potentially resulting in higher prices and fewer options for purchasers.
Global Economic Uncertainties The aviation industry is susceptible to economic downturns and uncertainties, which can result in lower capital expenditures and a more cautious approach by airlines and operators when implementing new avionics technologies like as EFIS.
Disruptions in the Global Supply Chain Production and delivery of EFIS systems can be impacted, which can have an effect on the market as a whole. Examples of these disruptions include shortages of essential components or geopolitical conflicts.
operating Downtime Aircraft downtime for EFIS system installation may be necessary, affecting operating schedules and sometimes provoking opposition from operators unable to bear prolonged periods of idleness.
Global Electronic Flight Instrument System Efis Market Segmentation Analysis
The Global Electronic Flight Instrument System Efis Market is Segmented on the basis of Aircraft Type, Component, Display Type, And Geography.
Electronic Flight Instrument System Efis Market, By Aircraft Type
Fixed-Wing AircraftSub-segments may include commercial fixed-wing aircraft, military fixed-wing aircraft, and general aviation fixed-wing aircraft.
Rotary-Wing AircraftSub-divisions can involve helicopters and other rotary-wing platforms.
Electronic Flight Instrument System Efis Market, By Component
Display Systems Sub-categories may include primary flight displays (PFD), navigation displays, multi-function displays (MFD), and engine indication and crew alerting system (EICAS) displays.
Sensors Sub-components might include air data sensors, attitude and heading reference systems (AHRS), and magnetometers.
Electronic Flight Instrument System Efis Market, By Display Type
Primary Flight Displays (PFD) Sub-segments may include full-screen PFDs or integrated PFD/MFD displays.
Electronic Flight Instrument System Efis Market, By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Electronic Flight Instrument System Efis Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Electronic Flight Instrument System Efis Market are
Honeywell International Inc.
Raytheon Technologies Corporation
General Electric Company
Thales SA
BAE Systems PLC
Astronics Corporation of America
Garmin Limited
L3Harris Technologies Inc.
Meggitt PLC
Rockwell Collins, Inc. (Subsidiary of Raytheon Technologies)
Esterline Technologies Corporation
Dynon Avionics
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Honeywell International Inc., Raytheon Technologies Corporation, General Electric Company, Thales SA, BAE Systems PLC, Garmin Limited, L3Harris Technologies Inc., Meggitt PLC.
SEGMENTS COVERED
By Aircraft Type, By Component, By Display Type, And By Geography.
CUSTOMIZATION SCOPE
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