Aerospace Cyber Security Market Future Scope Demands and Projected Industry Growths By 2027
The aviation industry has experienced many sophisticated security programs over the last several years, where information security is its main priority. The service provided by airlines is growing day by day and is increasingly focused on the implementation of information systems. As a result, cyber-attacks are extremely likely for the aviation industry. The aircraft industry is one of the largest industries in which high-level and sensitive details are processed and used mainly by airlines, airports, and air traffic control. A variety of websites often sell airline tickets that provide cyber-attackers with a straightforward path to access information on the different verticals of the airlines. The need for aviation cyber protection is therefore very strong to prevent the misuse of stored data.
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The key players analyzed in the report include Honeywell International, BAE Systems PLC, Computer Sciences Corporation, Cisco Systems, Harris Corporation, IBM Corporation, Unisys Corporation, Raytheon Company, Thales Group, Palo Alto Networks, and SITA.
COVID-19 Scenario Analysis:
Tech firms are stepping up their emphasis on high-demand innovations and finding new ways to support their consumers, even as the COVID-19 crisis poses problems across sectors and leads to a decline in high technology investment.
Cyber security is as important as national security, therefore this industry has the potential to survive, during such pandemic situations, where every sector has confidential data that needs to be kept secured to prevent any theft and misuse by enemies.
In 2019, IDC estimated spending about $103 billion on information security research, which is 9.4% higher than the previous year. It is expected that this trend will continue as IT firms are making substantial investments in developing their security solutions.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The most sought-after solutions are identification and prevention because threats become more and more resilient with each attack. Owing to these cases, the businesses aim to use domain experts' services and thus create a business possibility. Besides, the need to protect infrastructure becomes critical as the aerospace sector progresses inward to spaceflight autonomy and invests trillions in the production of aviation technologies. The cyber security market in aviation is expected to grow considerably concerning the above-mentioned factors. However, the high maintenance costs, constant need to conform to industry standards, complexities of device security, and lack of a common cyber security system are likely to significantly impede aerospace cyber security market development.
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The global aerospace cyber security market trends are as follows:
New product launches to flourish the market
ForAllSecure, which has been prototyping its information security testing platform, known as Mayhem, with DoD components for more than three years, was awarded a $45 million contract by DIU in 2020. It collaborated with the Cyberspace Research Community, the Naval Sea Systems Command, the Cyberspace Operations Squadron, and the U.S. Army C5ISR.
Also, Raytheon Company and IronNet Cyber security have announced plans to build cyber solutions to defend organizational and IT networks by 2020. Such technologies will combine managed security services with advanced tools for monitoring and communicating risks, like the mutual defense platform of IronNet and its network traffic analysis software, to potentially offer new business safety solutions.
Also, Unisys signed a $140 million contract in 2020 with a leading commercial defense contractor for the protection of data across unclassified and classified IT environments and to offer full cross-functional IT services with Unisys Stealth security tools; thus, optimizing how they provide services to their major clients.
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Upgrading airport management to include automation and thereby improve customer service
Airports continue to upgrade their infrastructure knowledge to improve their passenger travel experience and fuel growth as the number of air passengers grows at a rapid pace year on year. Airports greatly boost operational performance, customer facilities, and enhanced safety features by allowing the sharing of information in real-time on the flight schedule, coordination, and alignment through the entire airport process. Wherever automation and use of IT services are required, cyber security plays an important role to protect confidential data related to passengers, aircraft security details, etc. Such factors contribute to the acceptance of these systems and thus to their impact on the aerospace cyber security market.
Key benefits of the report:
This study presents the analytical depiction of the global aerospace cyber security industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global aerospace cyber security market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the aerospace cyber security market research report:
What are the leading market players active in the aerospace cyber security market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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