The global aviation cyber security market has seen a remarkable growth over the past few years. It has been expected that the market will grow at a rapid pace during the forecast period. Over the last couple of years, the aviation industry has undergone various advanced security system where, cyber security is their main point of attraction. The airline services are increasing day by day, and are becoming more focused on implementing information technology in their system. As a result, the aviation industry has given high chances of cyber-attacks. However, to control these types of attacks, aviation industry is focusing more on cyber security solutions. The aviation industry is one of the largest of industries, which deals in high level and storage of confidential data, which are majorly used by the airline companies, airports and air traffic management. As a result, the demand for aviation cyber security system to avoid the leakage of stored data is very high. Moreover, the technological advancement in the aviation industry has also boosted the demand.
As per MRFR analysis, the aviation cyber security market is expected to witness remarkable growth during the forecast period as several companies are opting for aviation cyber security into their systems. This market is expected to grow at ~ 7.5% the CAGR during the forecast period. This market is majorly influenced by the growth factors such as increasing rate of cyber-attacks, technological advancements, and stringent government regulation. Despite these factors, the high maintenance cost, lack of skilled labor, and absence of standard cyber security framework may hindering the market growth majorly.
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BAE Systems (U.K.),
Cisco Systems, Inc. (U.S.),
Northrop Grumman (U.S.),
DXC Technology (U.S.),
Booz Allen Hamilton (U.S.),
Thales Group (France).
This Global Aviation Cyber Security Market is expected to grow at 7.5% the CAGR during the forecast period.
The major players featuring in the global aviation cyber security market are Cisco Systems, Inc. and International Business Machines Corporation (IBM). Some of the companies adopt inorganic growth strategies, in order to improve their product offerings and strengthen their market positioning. For example, in August 2014, IBM acquired Lighthouse Security Group, a Rhode Island, U.S.-based cloud services provider. This acquisition would help increase the market share of IBM in the cyber security market, and develop new cyber security software and solutions.
Industry/ Innovation/ Related News:
November, 2017:- Astronautics Corporation of America signed a contract with the U.S. Federal Aviation Administration (FAA), to continue its progress in the Aircraft Systems Information Security/Protection (ASISP) program, on the development and validation of the methodologies for avionics cyber security.
June, 2016:- It was reported that according to SITA, 91% of the global airlines have planned to invest extensively on cyber security programs, over the next three years. This would aid the airlines in safeguarding their sensitive data and enhance the flight operational safety
MRFR has segmented the global aviation cyber security market into two segments that is by deployment and application. On the basis of deployment, the market has been segmented into on-cloud and on-premise. However, the application segment has been divided as airline management, airport management, air traffic management and air cargo management.
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North America leads in global aerospace expenditure and technological advancements, and thus generates a very high demand for the aviation cyber security systems. Although, Canada makes some investments in the development of such advanced systems, yet the market is primarily dependent on the US.
This is mainly attributable to the large focus of the country on the airline IT front. The sheer presence of IT companies in the U.S. has fueled the market in this region. Moreover, the growth in the usage of in-flight Wi-Fi and social media, have increased the demand for efficient cyber security solutions and services. Concurrently, the steep rise in cybercrime activities in Latin American countries such as Mexico, Chile, Brazil, Panama, Argentina, Venezuela, Peru, and Colombia resulted in compelling the governments of such countries pass legislations that drive the demand of cyber security services and solutions, in the region.