IoT in Aerospace & Defense Market Report 2024: Strategies And Recent Developments

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2435

The Business Research Company offers in-depth market insights through IoT in Aerospace & Defense Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The iot in aerospace & defense market size has grown rapidly in recent years. It will grow from $48.83 billion in 2023 to $56.63 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increased connectivity and communication needs, demand for predictive maintenance, rising threats and security concerns, cost reduction and operational efficiency, regulatory support and compliance.

The iot in aerospace & defense market size is expected to see rapid growth in the next few years. It will grow to $96.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to increased emphasis on cybersecurity, rise of unmanned systems, focus on fleet management, advancements in edge computing, integration of 5g networks. Major trends in the forecast period include advancements in iot sensors and connectivity, rapid adoption of edge computing, increased emphasis on cybersecurity, integration of ai and machine learning, advancements in iot sensors and connectivity, focus on predictive maintenance.

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Market Segmentation:
The iot in aerospace & defense market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Connectivity Technology: Cellular, Wi-Fi, Satellite Communication, Radio Frequency
3) By Deployment Mode: On-Premise, Cloud
4) By Application: Fleet Management, Inventory Management, Equipment Maintenance, Security, Other Applications
5) By End User: Space Systems, Ground Vehicles, Other Users

Major Driver - Rising Number Of Cyber-Attacks To Drive Market Growth
An increase in cyber-attacks on the aviation industry is expected to boost the growth of the IoT in the aerospace and defense market going forward. Cyberattacks refer to unwanted attempts to gain unauthorized access to computer systems to steal, expose, change, disable, or destroy information. IoT authentication in the aviation sector can guarantee the necessary cybersecurity security measures, thereby reducing the incidences of cyber-attacks. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, an increase of nearly 13% from the previous financial year. Therefore, an increase in cyber-attacks on the aviation industry is driving the growth of the IoT in the aerospace and defense market.

Competitive Landscape:
Major companies operating in the iot in aerospace & defense market report are AeroVironment Inc., AT&T Intellectual Property, FreeWave Technologies Inc., General Atomics Aeronautical Systems Inc., Honeywell International Inc., Northrop Grumman Corporation, Elbit Systems Ltd., Prox Dynamics, Radisys Corporation, Textron Systems Corporation, Airbus SE, Boeing Company, BAE Systems plc, SAP SE, General Electric Company, Bombardier Inc., CACI International Inc., Cobham plc, Collins Aerospace, Cubic Corporation, Curtiss-Wright Corporation, Dassault Aviation SA, Embraer SA, General Dynamics Corporation, Harris Corporation, L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Moog Inc., RTX Corporation, Rockwell Collins, Saab AB, Safran SA, Thales Group, United Technologies Corporation, Woodward Inc., Zebra Technologies, Zephyr Aerospace .

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Top Trend - Product Innovations Transforming The IOT In Aerospace And Defense Market
Product innovation is a key trend gaining popularity in the IoT in aerospace and defense market. Major companies operating in the IoT in the aerospace and defense market are focusing on developing new products. For instance, in September 2021, EDJX, a US-based computing platform company, and Cubic Corporation a US-based technology solutions company jointly launched an Internet of Military Things Edge Platform. It is uniquely designed that combines the edge computing and networking technology from Cubic Corporation with EDJX EdjOS to create a converged infrastructure solution. Significant implications for IoT and cutting-edge AI solutions are also provided by this platform. The EDJX platform represents an enormous advancement in edge computing. It allows intelligent IoT and C2 application solutions to scale from base to battlefield, lowering cognitive lift while increasing operational tempo for military personnel.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. IoT in Aerospace & Defense Market Characteristics
3. IoT in Aerospace & Defense Market Trends And Strategies
4. IoT in Aerospace & Defense Market - Macro Economic Scenario
5. IoT in Aerospace & Defense Market Size And Growth
…..
27. IoT in Aerospace & Defense Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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