17 May, 2019, 07:00 ET
ALBANY, New York, May 17, 2019 /PRNewswire/ -- The global aviation cyber security market faces stiff competition and the market is fragmented, states Transparency Research Market (TMR). A few leading companies in the global aviation cyber security market are Thales SA, Raytheon Company, Harris Corp, BAE System, and Blu Vector Inc. These prominent players in the global aviation cyber security market are entering into mergers, acquisitions, and other collaborations to expand their consumer base. Such strategies are also helping them add innovative products and services to their holdings.
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As the demand for aviation sector increases, it is upon the aviation companies to safeguard themselves from cyber-attacks and save their data from getting leaked. Thus, aviation companies are not leaving any stone unturned. Technologically advanced products are high in demand for cyber security reasons. This is expected to encourage the global aviation cyber security market. The global aviation cyber security market is expected to grow at a CAGR of 7.4% during the forecast period 2017 to 2025. The global aviation cyber security market is also projected to reach an estimation of US$ 4,759.3 mn by 2025.
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On the basis of region, in the global aviation cyber security market, North America is likely to holds its prominence during the forecast period. However, there are no new avenues in this region. Whereas, Latin America is expected to emerge as the most lucrative market during the forecast period. The global aviation cyber security market is segmented into managed security solutions and training and consulting in terms of services type. Out of these, managed security is likely to dominate the global aviation cyber security market. The growth in this region can be attributed to aviation industry seeking outsourced monitoring and management solution for cyber security.
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Growing Cyber Attacks to Drive Global Aviation Cyber Security Market
With the rising usage of internet in every field, cyber-attacks are growing in numbers every day. Thus, many companies in the aviation sector are investing their time and money to safeguard their systems from such attacks. This acts as a factor that is expected to drive the global aviation cyber security market. Alternatively, the rising demand for domestic and international travel from developing counties are predicted to boost the global aviation cyber security market during the forecast period. This is mainly because such data make them control air traffic signals, passengers onboard list, transportation network etc. If an unfortunate incidence like cyber threat takes place, it can result in heavy financial losses, operational losses, and transportation disruption. This calls for increased demand for cyber security.
Furthermore, there have been incidences of hijacking of flights by terrorists. Such attacks and hijacks could take place through cyber-attacks. This is another major factor that drives the global aviation cyber security market to achieve a strong growth curve.
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High Cost to Restrain Global Aviation Cyber Security Market
High investments are needed to deploy the cyber security system across any airport. Such high deployment costs are expected to restrain the global aviation cyber security market during the security period. Small players or new entrants may face difficulties to get them up and running into their system.
Despite the constraints, the global aviation cyber security market is projected to witness a stellar growth in the upcoming years. This is mainly due to the increasing number of airports to make connectivity feasible and entry of small players in the aviation sector. Hence, the global aviation cyber security market is projected to expand during the forecast period.
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This review is based upon the TMR report titled, "Aviation Cyber Security Market (Deployment - On-Premise and Hosted; Type - Network Security, Wireless Security, Cloud Security, Content Security, and Application Security; Solution - Data Encryption, Data Loss Prevention, Disaster Recovery Management, Network Firewall, Unified Threat Management, Antivirus/Antimalware, Identity and Access Management, Risk and Compliance Management, Vulnerability Management, Distributed Denial of Service (DDOS) Attack Protection, and Web Filtering; Services - Managed Security Solutions, Training and Consulting) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."
The global aviation cyber security market is segmented into:
- On Premise & Hosted
- Network Security
- Wireless Security
- Cloud Security
- Content Recovery Management
- Network Firewall
- Unified Threat Management
- Identity and Access Management
- Risk and Compliance Management
- Vulnerability Management
- Distributed Denial of Service (DDOS) Attack Protection
- Web Filtering
- Managed Security Solutions
- Training and Consulting
- South America
- North America
- Asia Pacific
- Middle East & Africa
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