Electronic Flight Instrument System (EFIS) Market worth $720 Million by 2027

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Electronic Flight Instrument System (EFIS)
Market worth 720 Million by 2027 at a CAGR of
3.1
The electronic flight instrument system (EFIS)
Market size is projected to grow from USD 618
million in 2022 to USD 720 million by 2027, at a
CAGR of 3.1 from 2022 to 2027. The adoption of
EFIS is driven by the increasing demand for
aircraft modernization to enhance operational
safety and fuel efficiency, thereby reducing
operational costs. While the new generation
aircraft are factory- fitted with modern EFIS
and other digital avionics,
the airlines and other end users are undertaking
fleet modernization initiatives to retrofit
their older generation fleet with such systems
to match the service offering of the new
generation aircraft. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id69256154 Based on Platform, the
commercial aviation segment is projected to
dominate market share due to the increasing
passenger traffic driving the demand for new
aircraft. Furthermore, the emerging safety
regulations mandate the use of digital avionics
systems such as the EFIS to enhance the safety
and operational profile of the aircraft, which
will even drive the retrofit aspect of the market
as the airlines are anticipated to resort to
fleet modernization to save costs associated with
new aircraft procurement. Based on the
Application, the flight attitude segment of the
market is projected to dominate market share as
the demand for associated subsystems such as
multi- function display (MFD) is anticipated to
grow at a rapid pace. Since MFDs can display a
variety of operational parameters of an aircraft,
they reduce the need to install multiple
displays for each subsystem and rather facilitate
the integration of several signal inputs in a
single unit that can be controlled via an
attached control panel. Based on Fit, the line
fit aspect of the market dominates market share
on account of the increasing number of
deliveries to effectively cater to the rapidly
growing passenger traffic. Furthermore, most
older generation general aviation aircraft
featured
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electromechanical gauges and did not have the
provision for retrofitting with digital EFIS
systems. With the regulatory framework that
focuses on the installation of EFIS to enhance
situational awareness of the pilot, more models
of general aviation aircraft are supporting EFIS
and other such digital systems, which renders a
positive outlook for the existing market
players. Based on Region, North America accounted
for the largest market share in 2022, and Latin
America is projected to witness the highest CAGR
during the forecast period. The market for EFIS
in the commercial and business aviation sectors
in these regions is expected to benefit from the
rising demand for air travel while the escalation
of global geopolitical rift is driving the race
for superiority in terms of military
capabilities, evident from enhanced defense
expenditure and investments in the modernization
of various defense equipment of countries such
as the US. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id69256154
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