Aviation Cyber Security Market Overview:
The risk of having an infected computer on a plane is calamitous to human life, which has amplified the focus on fortifying cyber security on planes. Market reports connected with the aerospace industry have been made accessible by Market Research Future who publishes reports on other sectors that have been currently published along with a report on this industry. The market is anticipated to increase market share at a 7.5% CAGR over the forecast period.
As most of the controls on the aircraft are automatic and have access to real-time systems, their vulnerability to being hacked increases considerably. Furthermore, increasing digitization in the aviation sector is raising the chances for cyber attacks in this sector. Rising incidences of ransomware attacks are expected to galvanize the demand for effective and efficient systems to secure aviation cybersecurity.
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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Major key Players
BAE Systems (U.K.),
Cisco Systems, Inc. (U.S.),
Northrop Grumman (U.S.),
DXC Technology (U.S.),
Booz Allen Hamilton (U.S.), and Thales Group (France).
The enhancement in the products and services is the chief factor escalating the market’s productivity and controlling the trends that are acquiring distinction in the market. The context for growth plans has stimulated the market for potential new entrants. The essential success factors and players’ predilections are consistently growing by the strategies being used by market contenders. The deviations witnessed in terms of strategy creation and execution are altering the growth pace of the market. The gaps in the market are filled due to the execution of proper supply chain strategies. Besides, the introduction of new products and services will add additional impetus to the market progress.
Sep 2018 BA’s Group IT Service Effectiveness Manager has advised staff that management had approved a proposal to outsource the airline’s cybersecurity to IBM and that a consultation process with affected staff would be initiated.
The segmentation of the market is carried out on the basis of application, deployment, and regions. The segmentation of the market by Deployment consists of On-Premise and On-Cloud. The Application basis of segmentation of the market consists of Air traffic management, Airport management, Airline management, and Air cargo management. The regional segmentation of the market contains of Europe, Americas, APAC and Middle East and Africa.
Detailed Regional Analysis
The North American region dominates the market for aerospace expenditure and technological advancements and thus creates a high demand for the aviation cybersecurity systems. Though Canada has made some investments in the progress of such innovative systems; the US is still leading the market. This is mostly accredited to the substantial focus of the countries on the airline IT front. Additionally, the increase in the usage of in-flight Wi-Fi and social media, have enlarged the demand for efficient cyber security solutions and services. Conversely, the sharp rise in cybercrime activities in Latin American countries has resulted in obliging the governments of such countries to pass legislations that will drive the demand of cybersecurity services and solutions in the region.
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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.
The global aviation cyber security market is characterized by the presence of many global and regional vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, and frequent changes in government policies are key factors that affect the market growth. It is crucial for the vendors to provide effective and high-quality aviation cyber security solutions and services, in order to survive and succeed in an intensely competitive market environment. Thus, the vendors should focus on expanding geographically and improving services, and compete in terms of quality, price, and technology.
Table of Contents
1… Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3… Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4… Global Aviation Cyber Security Market, By Deployment
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