United States/WA: Aviation Cyber Security Market Will Boom In Near Future
Report Pages:[130 Pages]
The Competitive Area of the Aviation Cyber Security Market is Defined by Key Players Like:-Rockwell Collins, Inc., Raytheon Company, Palo Alto Networks, Inc., Harris Corporation, General Electric Company, General Dynamics Corporation, Computer Sciences Corporation, BluVector Inc., BAE Systems, Inc., and Airbus Defence, and Space SA.
Aviation Cyber Security Market, By Deployment Type (Cloud/Hosted, On-premise), By Security Type (Endpoint Security, Network Security, Application Security, Cloud Security, Wireless Security, Others), By Solution (Antivirus and Anti-Malware, Firewall, Data Loss Prevention, Security Information and Event Management (SIEM), Intrusion Detection Systems/Intrusion Prevention System, Identity and Access Management (IAM), Governance, Risk and Compliance (GRC), Distributed Denial of Service (DDoS) and Others), By Service (Managed Services and Professional Services), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ XX million in 2021 and is expected to exhibit a CAGR of XX% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights
Market Overview:
Aviation cyber security is defined as a cyber-threat to the aviation system, which can come from a variety of mediums such as emails, social media, instant messaging, instant messengers, and websites. Aviation cyber security is created by looking at the aviation sector and developing a tailored approach to it. The first step in creating a cyber-security programme for the airline industry is to develop a vulnerability assessment tool. These tools are designed to identify any potential issues that can be exploited by hackers who want to gain access to specific information within the aircraft or the networks associated with the aircraft.
Competitive Landscape:
Airbus SE, BAE Systems, Inc., General Dynamics Corporation, F-Secure Corporation, Harris Corporation, Raytheon Company, Palo Alto Networks, Inc., General Electric Company, BluVector Inc., Computer Sciences Corporation, Thales Group, and Rockwell Collins, Inc.
Key Market Drivers:
The increasing prevalence of cyber-attacks in the aviation industry is a key factor augmenting growth of the aviation cyber security market. For instance, in March 2018, in Cathay pacific airways the IT team detected suspicious activity and the stolen data included passport details, birth dates, frequent flier numbers, phone numbers, and credit card information. The attack affected 9.4 million Cathay Pacific passengers.
A growing number of airports and up-gradation of their infrastructure is propelling growth of the market. According to the India Brand Equity Foundation, India’s aviation industry is expected to witness Rs. 35,000 crore (US$ 4.99 billion) investment in the next four years. The Indian Government is planning to invest US$ 1.83 billion for the development of airport infrastructure along with aviation navigation services by 2026.
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Covid-19 Impact Analysis
During the Covid-19 pandemic, there was a decline in passenger traffic due to containment-related restrictions such as lockdown and social distancing. According to the Airports Council International (ACI), global passenger traffic at the world’s top 10 busiest airports decreased by -45.7% in 2020. Overall, passenger traffic at the world’s airports decreased by -64.6% which shows that the impact of the pandemic and the early stages of recovery in air travel has not been uniform around the world. The market of aviation cyber security was severely affected during the Covid-19 pandemic.
Key Takeaways:
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The aviation cyber security market is expected to exhibit a CAGR of XX % over the forecast period, due to increasing air traffic. According to ICAO’s preliminary compilation of annual global statistics, the total number of passengers carried on scheduled services rose to 4.3 billion in 2018, which is 6.4 percent higher than the previous year, while the number of departures reached 37.8 million in 2018, a 3.5 percent increase.
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North America is expected to witness significant growth over the forecast period owing to the strong presence of the aviation industry in the region. For instance, in May 2021, the American Institute of Aeronautics and Astronautics and the Space Information Sharing and Analysis Center have partnered on cyber information sharing, awareness, education, and outreach to improve the security of space operations.
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