Aviation & Defense Cyber Security Market To Reach USD 93.6 Billion By 2027 | CAGR 9.2% — Forencis Research
Global Aviation & Defense Cyber Security Market: Key Highlights
- According to the new market research report “Aviation & Defense Cyber Security Market by Deployment Mode (Cloud and On-premise), by Component (Solution and Services), by Solution (Antivirus, Data Loss Prevention, Access Management, Data Encryption, and Others), by Services (Consulting and Training), by Types (Cloud Security, Network Security, Software Security, Wireless Security, and Application Security), by End-User (Commercial and Military), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the global aviation & defense cybersecurity market is estimated to reach USD 93.6 Billion by 2027 at a CAGR of around 9.2% during the review period.
- Rising cyber-attack in the aircraft industry will be lead to an increase the demand for cybersecurity for defense and aviation industries.
- However, lack of IT expertise remains a major restraining factor for the growth of the aviation & defense cybersecurity market
Global Aviation & Defense Cyber Security Market: Key Market Dynamics
- Increasing stringent government rule and regulations are excepted to secure and protect the sensitive data which can drive the aviation and defense cybersecurity market in the forecast period.
- With new emerging technology a major limiting factor is the lack of human expertise for data privacy and security is a challenging factor likely to hamper the market growth during the projected period.
- Rising Demand for could technology possesses a security risk despite it being safer than other computing devices is anticipated to boost the market growth in upcoming years.
- The security directly impacts the operational safety as well as the efficiency of the industry is anticipated to drive the growth of the during the forecast period.
Global Aviation & Defense Cyber Security Market: Regional Overview
- North America
The Aviation & Defense Cyber Security Market in the North America region is projected to witness high demand due to the higher connectivity of aircraft in the region. In 2019, the Aerospace Industries Association (AIA) has moved with the US cybersecurity for the security of data. In 2015, the Government Accountability Office (GAO) recommends for increasing the solution for the cybersecurity in the aircraft system. Moreover, the US government has taken many initiatives for collaboration with the private sector and for improving security.
Owing to the rapid growth of the aerospace & defense industry in Europe, these may lead to an increase the cybersecurity market. The European Union, the European Commission and the European Aviation Safety Agency (EASA) is working together to reduce the cyberattack. According to the Aerospace Industries Association, the EASA has established the European Strategic Coordination platform for the cyberattack in the field of aviation. The goal is to the association and makes the European Aviation system more efficient by adopting a through-life tiered approach to security in design, production, and operations.
In 2015, there was a Black Energy Attack on Ukraine and continue into 2018 with the exposure of new WPA2 Krack and Meltdown Spectre Vulnerabilities which lead to improving the performance of civil aviation industry to respond the incidents from new threats that seek to exploit vulnerabilities software and hardware for the aviation industry operations.
Global Aviation & Defense Cyber Security Market: Key Players Overview
- Thales Group:
Thales Group is a multinational company which designs and builds the electrical system. The company provides the services for aerospace, transportation, defense and security markets. Also, the company is making investments in digital innovation that include connectivity, Big Data, Artificial Intelligence and cybersecurity technologies which will help the organizations, businesses and government sectors. Moreover, the player in the air transport sector is increasing their interconnected as they are highly interdependent. These will lead to adapt the cybersecurity aspect and coordinated to accept at all the levels to make flight safe and secure. Also, the company is deploying a special combination of specialized aerospace to know cybersecurity capabilities.
Furthermore, in 2019, Thales Group and Airbus have signed a joint agreement for detecting cyber threats. Airbus Cybersecurity and Thales Group are the two European leaders in cybersecurity that offer a solution against cyber-attacks by signing an agreement.
- Honeywell International Inc.:
Honeywell International Inc. is a technology company that provides an industry solution such as control technologies for buildings and aerospace products and services. The company technologies help to develop and connect the world with updated technologies and solutions. The company provides a solution for aircraft, building, supply chain, and manufacturing plants. Moreover, the Honeywell Aerospace is setting the growth for the industry in protecting the critical issues for the aircraft. Also, aerospace cybersecurity solution addresses the present and future risks associated with aircraft security. Furthermore, in 2020, Honeywell is working with Jetoptera for improving flight operations and to power a revolutionary fluidic propulsive system (FPS). Moreover, the FPS will replace legacy propulsion systems and also enhancing the solution for a flight with its safety and speed.
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