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Aviation Cyber Security Market Size, Key Drivers, Growth, Demand, Analysis 2024-2033
Aviation Cyber Security Market Size
According to The Business Research Company's, The aviation cyber security market size has grown strongly in recent years. It will grow from $4.71 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased cyber threats in aviation, risen dependency on digital technologies, regulatory compliance requirements, protection of sensitive data, high-profile cybersecurity incidents.
The aviation cyber security market size is expected to see strong growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to evolution of cyber threats, increasing connectivity in aviation systems, global aviation industry growth, collaboration for cybersecurity resilience, heightened focus on insider threats. Major trends in the forecast period include enhanced focus on insider threat mitigation, regulatory compliance and cybersecurity standards, growth in cybersecurity training programs, integration of threat hunting technologies, rapid incident response capabilities.
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Market Drivers and Trends:
The increasing number of cyber-attacks is expected to boost the growth of the aviation cyber security market going forward. A cyber attack is a strike that is launched against an information technology system with malicious intent to gain unauthorized access to a computer or network. These attacks aim to disable, erase, corrupt or steal the data stored on the systems. Aviation cybersecurity secure application architectures, secure code, rigorous data input validation, threat modeling, and other measures are implemented to reduce the possibility of unauthorized access or alteration of application resources in aviation. For instance, according to AAG Cybersecurity, a company that provides a wide range of cybersecurity services, cyber attacks globally increased by 125% through 2021. Therefore, the increasing number of cyberattacks is driving the demand for the aviation cyber security market.
Advancement in aviation security solutions is the key trend gaining popularity in the aviation cyber security market. Major companies operating in the aviation cyber security market are focusing on developing new technologies and solutions to sustain their position in the market. For instance, in August 2022, International Air Transport Association (IATA), a Canada-based international trade association for the world's airlines, announced the launch of AVSEC Insight. It is an online platform that gives users access to various current, open-source information to help them spot security problems and threats to their operations and enterprises. Furthermore, the platform incorporates advanced machine learning and natural language processing (NLP) capabilities to guarantee that the platform gets progressively more intelligent and reliable as the dataset expands. AVSEC Insight addresses this difficulty by combining risk-related data from various sources, including specialist and local-language news media, NOTAMs (Notice to Air Missions), and other official sources. It lets clients promptly handle and recognize business risks, monitor real-time events, and perform post-event analysis. The tool covers threats and risks from natural disasters, civil unrest, protests, geopolitical developments, transnational crime, and cybersecurity.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Airbus SE; BAE Systems Inc.; BluVector Inc.; F-Secure Corporation; General Dynamics Corporation; General Electric Company; Honeywell International Inc.; Lockheed Martin Corporation; Northrop Grumman Corporation; Palo Alto Networks Inc.; Raytheon Intelligence & Space; Thales Group Inc.; Unisys Corporation; Collins Aerospace; International Business Machines Corporation; SITA Information Security Services; Astronautics Corporation of America; Booz Allen Hamilton Holding Corp.; Cisco Systems Inc.; Fortinet Inc.; McAfee Corp.; Israel Aerospace Industries Ltd.; L3Harris Technologies Inc.; Check Point Software Technologies; Computer Sciences Corporation; Accentur*e plc; T-Systems International GmbH; Capgemini SE; Deloitte Touche Tohmatsu Limited; PricewaterhouseCoopers (PwC); Ernst & Young Global Limited (EY); KPMG International Limited
Aviation Cyber Security Market 2024 Key Insights:
• The aviation cyber security market will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Surge In Cyber Attacks Fueling Growth Of Aviation Cybersecurity Market
• Iata Launches Avsec Insight To Drive Advancements In Aviation Cybersecurity
• North America was the largest region in the aviation cyber security market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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