Synopsis: Global Aviation Cyber Security Market
The recent study circulated by Market Research Future (MRFR) unfolds that the global aviation cyber security market is anticipated to mark a CAGR of 8% across the review period 2018 to 2025. Increasing utilization of IT services in the aviation industry has led to a rise in cyberattacks. This, in turn, has paved the growth trajectory of the market for the next couple of years.
With the increase in airlines services, the investments in advanced cybersecurity solutions are set to increase in the years to come. This, in turn, is prognosticated to catapult the aviation cyber security market on upward trajectory.
The aviation industry holds a massive amount of confidential data which can pose a high level of risk to individuals, organizations, and nations. This factor has motivated the adoption of technologically advanced and latest security measures, which is projected to encourage growth of the aviation cyber security market over the next few years. Although the market is likely to remain lucrative in the nearby future, factors such as high maintenance cost and lack of skilled personnel are poised to restrict the growth of the market in the years to come.
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Competitive Dashboard: Global Aviation Cyber Security Market
Honeywell International, Inc., Computer Sciences Corporation, BAE Systems PLC, Cisco Systems, Inc., IBM Corporation, Cisco Systems, Inc., Harris Corporation, Northrop Grumman Corporation, Thales Group, Raytheon Company, and SITA are few of the major players in the global aviation cyber security market assessed in this MRFR report. These players are profiled to present an exhaustive share analysis of the market. Key growth trajectories expected to be devised by the players are research & development, collaborations, mergers & acquisitions, agreements, competitive pricing policies, etc. In addition, increasing investments in the development of technological innovations is another major factor anticipated to intensify competition in the global aviation cyber security market over the next couple of years.
Segmentation: global aviation cyber security market
The segmental analysis of the aviation cyber security market, on the basis of type, covers network security, cloud security, content security, wireless security, and application security. Among these, the network security segment is likely to witness expansion at the highest CAGR over the assessment period. The segment’s growth can be accredited to the rising dependency of the aviation industry on computer applications.
On the basis of deployment, the global aviation cyber security market has been bifurcated into on-cloud and on-premise. The on-premise segment is poised to dominate the market over the next couple of years. Meanwhile, the on-cloud segment is projected to register a higher growth rate across the forecast period.
The segments of the aviation cyber security market, based on application, include air traffic management, airport management, airline management, and air cargo management. Among these, the airport management segment is forecasted to retain its dominance over the market in the foreseeable future. The airline management segment, on the other hand, is expected to expand at a higher CAGR across the forecast period.
On the basis of component, the global aviation cyber security market has been divided into solution and service.
Regional Analysis: global aviation cyber security market
On the basis of region, the global aviation cyber security market has been segmented into North America, Asia Pacific (APAC), the Middle East & Africa (MEA), Europe, and Latin America. North America is likely to hold the pole position in the global market place through the evaluation period. Increasing adoption of advanced technologies in the aviation industry of the region is expected to drive market growth in the forthcoming years. Europe is expected to maintain its standing at the second spot in the upcoming years and benefit from the presence of key players. Meanwhile, the highest growth rate is expected to be registered by Asia Pacific during the assessment period.
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