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Aerospace Cyber Security Market to Reach $58.8 Billion, Globally, by 2032 at 8.4% CAGR: Allied Market Research

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Allied Market Research

14 Feb, 2024, 08:15 GMT

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The growth of the global aerospace cyber security market is driven by factors such as increase in cyber threats, rise in digitization and connectivity, and integration of advanced technologies in the aerospace sector. 

WILMINGTON, Del., Feb. 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Aerospace Cyber Security Market by Type (Network Security, Wireless Security, Cloud Security, and Content Security), Deployment (On-Premise and Cloud), Application (Aircraft, Drones, and Satellites), and Component (Services and Solutions): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global aerospace cyber security industry size generated $26.3 billion in 2022 and is anticipated to generate $58.8 billion by 2032, witnessing a CAGR of 8.4% from 2023 to 2032.

(We are providing aerospace cybersecurity Industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

  • 160 - Tables
  • 46 - Charts
  • 300 – Pages

Download Sample Report and Table of Content - https://www.alliedmarketresearch.com/request-sample/A09068

Prime Determinants of Growth 

The growth of the global aerospace cyber security market is driven by factors such as increase in cyber threats, rise in trend of digitization & connectivity, and integration of advanced technologies in the aerospace sector. However, high installation & operational costs and regulatory challenges hamper the growth of the market. On the contrary, technological advancements and innovation, coupled with strengthening of cyber regulations in the aerospace industry, are expected to offer remunerative opportunities for the expansion of the aerospace cyber security market during the forecast period. 

Report Coverage and Details: 

Report Coverage 

Details 

Forecast Period 

2023–2032 

Base Year 

2022

Market Size In 2022 

$26.3 Billion 

Market Size In 2032 

$58.8 Billion 

CAGR 

8.4 %

No. Of Pages in Report 

280

Segments Covered 

Type, Deployment, Application, Component, And Region 

Drivers 

Increase In Cyber Threats 

Rise In the Digitization And Connectivity 

Integration Of Advanced Technologies in The Aerospace Sector 

Opportunities 

High Installation and Operational Costs 

Regulatory Challenges 

Restraints 

Technological Advancements and Innovation 

Cyber Regulations in The Aerospace Industry 

Impact of Russia–Ukraine War Scenario 

  • On February 24, 2022, Russia invaded Ukraine, leading to the Russia–Ukrainian war that began in 2014. Due to geopolitical conflicts, there is an emergence of global economic uncertainties. In times of economic unpredictability, aviation companies or airports budgets can be affected, potentially influencing the allocation of funds for aerospace cybersecurity. This, in turn, could impact the adoption and integration of aerospace cybersecurity products or ability to invest in cybersecurity services. 
  • Furthermore, in times of conflict, governments might have to redirect their resources to deal with urgent security and humanitarian needs. This could mean changing their budget priorities, which might result in less money allocation for the investment in cybersecurity. 

The network security segment to maintain its leadership status throughout the forecast period 

Depending on type, the network security segment held the highest market share in 2022, accounting for more than one-third of the global aerospace cyber security market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that modern aerospace systems are becoming increasingly connected, with the integration of Internet of Things (IoT) devices and other interconnected components. However, the cloud security segment is projected to register the highest CAGR of 8.9% from 2023 to 2032, owing to increase in penetration of leveraging cloud platforms for data storage, processing, and analysis. 

Recent Developments in the Aerospace Cyber Security Sector

  1. In January 2023, The Aerospace Corporation introduced the Space Attack Research and Tactic Analysis (SPARTA) framework, pinpointing distinct hacker risks to space systems.
  2. July 2023 saw Honeywell International's confirmation of acquiring SCADAfence, a leading provider of cybersecurity solutions for operational technology (OT) and Internet of Things (IoT) in monitoring extensive networks.
  3. March 2022 marked Northrop Grumman Corporation's announcement of establishing the 100th U.S. Air Force training site on the company's distributed mission operations network (DMON), fostering secure global connectivity for combat air force (CAF) crews.
  4. In April 2022, Thales inaugurated its sixth cybersecurity center in Morocco, reinforcing its commitment to cybersecurity in the African continent.
  5. November 2021 witnessed Honeywell International, Inc. launching Honeywell NAVITAS, a software amalgamating AI, big data, machine learning, cybersecurity, and human-centered design principles.
  6. May 2021 saw the Air Force Life Cycle Management Center (AFLCMC) collaborating with Lockheed Martin to establish the rogue blue software factory, producing mission planning and command and control applications for the U.S. Strategic Command.
  7. In February 2021, Lockheed Martin Corporation secured a basic ordering agreement (BOA) from the U.S. Air Force for Platform One software DevSecOps services, encompassing DevSecOps engineering, software development, cybersecurity, operations, and IT support.

Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/A09068

The on-premise segment to maintain its leadership status throughout the forecast period 

On the basis of deployment, the on-premise segment held the highest market share in 2022, accounting for more than half of the global aerospace cyber security market revenue, and is anticipated to maintain its leadership status throughout the forecast period as there are stringent regulations and compliance standards, often requiring organizations to adhere to specific data handling and security practices. Moreover, the cloud segment is projected to attain the highest CAGR of 7.8% from 2023 to 2032, owing to high investment in cybersecurity measures, offering advanced security features and protocols. 

The aircraft segment to maintain its lead position during the forecast period 

By application, the aircraft segment acquired the largest share in 2022, accounting for more than half of the global aerospace cyber security market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is growing need for robust cybersecurity measures to protect against potential cyber threats targeting these connected aircraft systems. Moreover, the drones segment is projected to register the highest CAGR of 8.5% from 2023 to 2032, owing to widespread adoption that has led to an expanded attack surface, making drones attractive targets for cyber threats. 

The services segment to maintain its lead position during the forecast period 

Depending on component, the services segment garnered the largest share in 2022, accounting for more than half of the global aerospace cyber security market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is an increase in the provision of services to specialized knowledge and skills, enabling aerospace companies to navigate the complexities of the threat landscape. Moreover, the solutions segment is projected to record the highest CAGR of 7.4% from 2023 to 2032, owing to growing demand for advanced cybersecurity solutions that can effectively detect, prevent, and respond to a wide range of cyber threats targeting aerospace systems. 

North America to maintain its dominance by 2032 

Region wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting less than one-third of the market revenue, and is likely to dominate the market during the forecast period, as there is highly advanced and technologically sophisticated aerospace industry, with a focus on innovation, research, and development. However, Asia-Pacific is expected to witness the highest CAGR of 7.8% from 2023 to 2032, owing to governments in Asia-Pacific that are recognizing the importance of cybersecurity in the aerospace sector and are implementing initiatives and regulations to enhance cybersecurity resilience. 

Report Key Highlights:

  1. The aerospace cybersecurity market analysis spans over 15 countries, offering a comprehensive breakdown of values ($million) from 2022 to 2032.
  2. Our research integrates top-tier data, expert opinions, and in-depth analysis, accompanied by substantial independent perspectives. This method is designed to furnish a well-rounded view of the global market, aiding stakeholders in making informed decisions for ambitious growth objectives.
  3. A meticulous review process encompassed over 3,700 product catalogs, annual reports, industry descriptions, and similar resources from major industry players, enhancing our understanding of the market dynamics.

Procure Complete Research Report (PDF with Qualitative and Quotative Data, Insights, Statistics, Tables, Charts, Figures) - https://www.alliedmarketresearch.com/aerospace-cyber-security-market/purchase-options

Leading Market Players 

  • Astronautics Corporation of America 
  • BAE Systems 
  • DXC Technology Company 
  • Eurocontrol 
  • Honeywell International Inc. 
  • Lockheed Martin Corporation 
  • Northrop Grumman Corporation 
  • Boeing 
  • Thales Group 
  • The Aerospace Corporation 

The report provides a detailed analysis of these key players of the global aerospace cyber security market. These players have adopted various strategies such as contracts, agreements, partnerships, and expansion to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player. 

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
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Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
AMR Resource Center: https://www.alliedmarketresearch.com/resource-center

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