PUBLISHER: The Business Research Company | PRODUCT CODE: 1414032
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414032
“Aviation Cyber Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aviation cyber security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aviation cyber security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aviation cyber security market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Aviation cyber security involves safeguarding the hardware, software, and data within the aviation industry against unauthorized access, damage, or misuse. This encompasses protecting digital information and the interconnected systems such as networks, websites, services, computers, and gateways that facilitate data access.
The primary security aspects within aviation cybersecurity encompass network security, wireless security, cloud security, content security, and application security. Network security, a subset of cybersecurity, concentrates on shielding interconnected networks from malicious cyber threats. It encompasses solutions and services, whether deployed in the cloud or on-site, designed for applications in airline management, air cargo management, airport operations, and air traffic control management.
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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 expansion witnessed in the historical period can be credited to several factors, including heightened cyber threats within the aviation sector, amplified reliance on digital technologies, the imposition of regulatory compliance mandates, the imperative need to safeguard sensitive data, and the impact of significant cybersecurity incidents that garnered widespread attention.
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 projected growth in the upcoming period is expected to stem from the ongoing evolution of cyber threats, the continued expansion of connectivity within aviation systems, the global growth of the aviation industry, collaborative efforts aimed at bolstering cybersecurity resilience, and an increased emphasis on addressing insider threats. Key trends anticipated in the forecast period comprise a stronger emphasis on mitigating insider threats, adherence to regulatory compliance and cybersecurity standards, a rise in cybersecurity training initiatives, the integration of advanced threat hunting technologies, and the development of swift incident response capabilities.
The rising prevalence of cyber-attacks stands as a driving force behind the burgeoning aviation cybersecurity market. Cyber-attacks, aimed at breaching information technology systems for malicious purposes, pose threats by attempting unauthorized access, data corruption, or theft. In aviation, cybersecurity measures such as secure application architectures and rigorous validation protocols aim to thwart such attacks. Notably, according to AAG Cybersecurity, global cyber-attacks surged by 125% in 2021, underscoring the heightened demand for aviation cybersecurity solutions.
The upsurge in commercial aircraft deliveries is poised to propel the growth of the aviation cybersecurity market. Commercial aircraft, pivotal in transporting passengers and cargo, store and transmit sensitive data, making protection against cyber threats imperative. For instance, in 2022, Airbus SE delivered 661 commercial aircraft to 84 customers and recorded 1,078 gross new orders, marking an 8% increase from the previous year. This surge in deliveries underscores the escalating need for robust cybersecurity measures in aviation.
Evolution in aviation security solutions emerges as a prominent trend shaping the aviation cybersecurity market. Major industry players are investing in advanced technologies to fortify their market presence. An example is the August 2022 launch of AVSEC Insight by the International Air Transport Association (IATA). This online platform offers access to real-time, open-source information using machine learning and natural language processing. It amalgamates data from various sources, including news media, NOTAMs, and official outlets, enabling users to promptly identify and address security threats, covering a spectrum from natural disasters to cybersecurity risks.
Strategic partnerships emerge as a focal strategy among major companies in the aviation cybersecurity market. These alliances, aimed at mutual benefits, leverage the strengths of each entity to fortify their market position. For instance, Cyviation and Deloitte Canada unveiled a collaboration in April 2023. Cyviation, specializing in proactive intelligence and monitoring solutions for aircraft cybersecurity, teamed up with Deloitte's comprehensive cybersecurity consulting. Their integrated solution aims to bolster airlines' cyber resilience, manage cyber events, and navigate evolving regulatory compliance in the aviation cybersecurity landscape.
In February 2023, Accenture plc, an Ireland-based leader in information technology services and consultancy, finalized the acquisition of Morphus, the specifics of which were undisclosed. This strategic move by Accenture is geared towards broadening its service offerings, particularly in the realm of top-tier cyber defense solutions, enhancing its ability to cater to client needs comprehensively. Additionally, this acquisition facilitates Accenture's expansion within burgeoning markets, notably the aviation sector. Morphus, based in Brazil, specializes in delivering cyber defense, risk management, and cyber threat intelligence services specifically tailored for the aviation industry.
Major companies operating in the aviation cyber security market report are 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, Accenture plc, T-Systems International GmbH, Capgemini SE, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers (PwC), Ernst & Young Global Limited (EY), KPMG International Limited
North America was the largest region in the aviation cyber security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aviation cyber security market report during the forecast period. The regions covered in the aviation cyber security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aviation cyber security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The aviation cyber security market consists of revenues earned by entities by providing services such as risk assessments, compliance audits, training programs, and incident response services. The market value includes the value of related goods sold by the service provider or included within the service offering. The aviation cyber security market also includes sales of hardware and software such as firewalls, intrusion detection and prevention systems, and encryption technologies that are used in providing aviation cyber security. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.