PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250698
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250698
According to Stratistics MRC, the Global Aviation Cyber Security Market is accounted for $44.06 billion in 2022 and is expected to reach $82.42 billion by 2028 growing at a CAGR of 11.0% during the forecast period. In the aviation ecosystem, where the different players are almost all strongly interrelated and crucial challenge, cyber security includes not only the protection of digital data, but also the networks, websites, services, computers, and portals that transport and enable access to data the aviation sector is one of the major of industries, which engages in high level and storage of secret data, which are largely used by the airline firms, airports, and air traffic control. As a result, the demand for aviation cyber security system to avoid the outflow of stored data is very high. Furthermore, technological advancement in the aviation industry has increased demand for the aviation cyber security market.
According to SITA Air Transport IT Trends Insights Report, 2018, the airport and the airline have IT investment prioritized as cybersecurity, with 94% of studied airports planning to invest in the cybersecurity programs, over the next three years.
Increasing number of cyber attacks in the aviation
Cyber attackers in the aviation business, like those in many other industries, are motivated by financial and political gain, as well as the desire to get sensitive information. In addition to the dangers of financial and reputational loss, effective assaults in the aviation sector may result in air traffic interruptions, accidents, and even death. The airline industry, which relies on multiple technical solutions to offer its customers with the greatest possible user experience, must be as vigilant in identifying and responding to cyber threats. In this context, some proposals for improving the aviation industry's ability to predict, identify, respond to, and mitigate cyber risks are provided which drive the market growth.
Lack of regulations and standards
The increase in the number of travellers, building of new modern airports, and complexities in new aircraft have also stimulated an increase in cyber-attacks in civil aviation believe that the increased reliance on the integrity and confidentiality of data for the optimisation of day-to-day business transactions have in turn increased the risk of cyber-incidents. Increased levels of automation, a central spine within the evolution of next generation systems, result in the proliferation of attack surfaces with threat actors targeting business disruptions and theft of information for both political and financial gains thus hampering the aviation cyber security market.
Increasing number of airports
The number of airports worldwide has increased significantly airports principal users and consumers are airlines. Most airlines fund airport infrastructure expansions and pay for operating costs through airport charges; consequently, it is critical that airport investments are reasonable and capital expenditure is focused where it is most required. Furthermore, contemporary developments, such as airports, will provide airline input and perspectives on airport development proposals and expenses. The goal is to establish a continuous, positive discussion that consolidates airline perspectives and helps informed decision-making by reviewing airport investment plans, assessing operational and passenger impacts, and analysing costs and benefits which provide further opportunities for the market growth.
High maintenance cost
The true cost of cyber resilience is significantly understated. The Government Accountability Office discovered that 47% of programmes that failed to undertake vulnerability assessments incurred more schedule slippages and cost increases, according to Department software development and cyber security policies. There is a worldwide deficit of roughly three million cyber-security personnel. Despite the high demand for data security, risk identification and management, threat detection, cyber compliance, and network security design, few institutions incorporate cyber skills into their electrical and computer engineering curriculum. The public and business sectors must work together to encourage universities to include cyber skills training in science, technology, engineering, and math programmes which hamper the market
The significance of cyber security and cyber resilience has reduced dramatically. Covid 19 can have a negative impact on different domains of aviation systems, such as air navigation systems, airlines, and aircraft systems, and hence have a negative impact on the political and economic reputation of states and aviation service providers. The 2019 coronavirus pandemic (COVID-19) has irreversibly altered our way of life. Also, there was a general decrease in passenger traffic, which could result in a loss of gross passenger operating revenues for airlines.
The Wireless security segment is expected to be the largest during the forecast period
The Wireless security segment is estimated to have a lucrative growth, due to it has been considering wireless technology as a means of establishing a data network for avionics in order to minimise weight and thereby operational and maintenance expenses. Wireless intra communication can expose aircraft systems to manipulation by an opponent. Aviation regulatory organisations have already said that network security must be detected and addressed. The aviation industry has been considering wireless technology as a means of establishing a data network for avionics in order to minimise weight and thereby operational and maintenance expenses. Nevertheless, incorporating a wireless network into an aeroplane raises the question of security.
The Air traffic control management segment is expected to have the highest CAGR during the forecast period
The Air traffic control management segment is anticipated to witness the fastest CAGR growth during the forecast period, due to players in aviation and air traffic management are highly interdependent and more integrated, with increased information sharing and collaboration within the industry. As a result, the sector's cyber security posture must be adjusted and a coordinated approach at all levels implemented. An unseen, intricate global infrastructure supports every aircraft in flight. The Air Traffic Management (ATM) system ensures that safety and security are maintained on a regular basis. Air Traffic Management is evolving in tandem with the digitization of aviation to deliver new services seamlessly and cost-effectively thereby propelling the market growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to increasing use of internet and social media, as well as advanced wavelength capacity and uninterrupted connection service. As a result of these factors, effective and technologically sophisticated cyber security solutions and services are in high demand in this region, propelling market expansion. Transportation firms and air carriers in the United States, particularly in the aviation sector, are implementing more advanced cyber security measures that conform to National Institute of Standards and Technology (NIST) regulations. The United States places a high value on its aviation sector and invests heavily in the research and development of advanced cyber security solutions.
Europe is projected to have the highest CAGR over the forecast period, owing to Incidences of terrorism and cyber security threats are on the rise. Increased demand for air travel, as well as an increase in the number of Greenfield projects in the region, is expected to drive market growth. Simultaneously, the region's growing need for commercial planes will fuel expansion. In addition automation and innovative technology are being embraced by modern airports in this region for operational efficiency, maintenance cost reduction, customer happiness, and predictive capacity planning which are encouraging the growth of the market.
Some of the key players profiled in the Aviation Cyber Security Market include Cisco Systems Inc, The Raytheon Company, BAE Systems, Honeywell International Inc, Collins Aerospace, Northrop Grumman Corporation, Lockheed Martin Corporation, Palo Alto Networks Inc, Unisys Corporation, IBM Corporation, Thales Group, Computer Sciences Corporation, General Electric Company and BluVector Inc
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