“Global Aerospace Cyber Security Market to reach a market value of USD 46.7 Billion by 2030 growing at a CAGR of 8.1%”
The Global Aerospace Cyber Security Market size is expected to reach $46.7 billion by 2030, rising at a market growth of 8.1% CAGR during the forecast period.
Like in other regions, the aerospace industry in Europe faces a growing threat landscape concerning cyberattacks. The imperative for strong cybersecurity protocols has intensified in tandem with the increasing interconnectivity and dependence of aviation systems on digital technologies. Consequently, the Europe region would acquire nearly 30% market share by 2030. European aviation authorities, such as the European Aviation Safety Agency (EASA), have been actively involved in developing and enforcing regulations related to cybersecurity in the aerospace sector. Thus, these aspects can fuel the demand in the segment.
Modern aircraft's growing integration of digital technologies, such as avionics systems, communication networks, and flight control systems, enhances operational efficiency and exposes the aerospace sector to cyber threats. In addition, the aerospace industry is witnessing a surge in cyber threats and attacks targeting military and commercial aviation systems. Hence, owing to these factors, there will be increased demand in the market. Additionally, utilizing strong encryption methods for data in transit and at rest is fundamental. This ensures that the intercepted data remains unreadable even if unauthorized access occurs without the appropriate decryption keys. Furthermore, in the aerospace sector, adherence to secure coding practices is critical for the development of software and systems. Therefore, owing to these factors, there will be enhanced demand.
However, Legacy systems often run on outdated software and hardware that may no longer receive regular updates and patches. Moreover, legacy systems might not support modern security protocols and encryption standards. Integrating newer security features may require significant modifications or upgrades to the existing infrastructure. Therefore, these aspects can hamper the demand in the upcoming years.
On the basis of component, the market is bifurcated into services and solutions. The solutions segment recorded a 40% revenue share in the market in 2022. The aerospace industry has rapidly adopted digital technologies, connectivity, and data-driven solutions to enhance efficiency, safety, and communication. This digitization has led to an increased surface area for potential cyber threats, driving the need for robust cybersecurity solutions. Hence, these factors can lead to increased growth in the segment.
Based on application, the market is divided into aircraft, drones, and satellite. In 2022, the drones segment witnessed a 30% revenue share in the market. A growing number of drone technology worldwide leads to increased demand for cyber measures. In Spain, there are more than 1,500 development projects related to drone technology. Hence, these factors can assist in the expansion of the segment.
On the basis of deployment, the market is divided into on-premise and cloud. In 2022, the cloud segment witnessed a 40% revenue share in the market. Aerospace organizations deal with massive amounts of data, including sensitive design, manufacturing, and operations information. Cloud services offer scalable and efficient solutions for storing and processing this data, allowing aerospace companies to manage large datasets effectively. Thus, these factors can boost the growth of the segment.
Based on type, the market is segmented into network security, wireless security, cloud security, and content security. In 2022, the wireless security segment garnered a 20% revenue share in the market. The aerospace industry has seen a surge in the adoption of connected technologies to enhance communication, navigation, and overall operational efficiency. This increased connectivity also raises the risk of cyber threats, making robust wireless security measures crucial. Therefore, owing to these factors, the segment will grow rapidly in the upcoming years.
Free Valuable Insights: Global Aerospace Cyber Security Market size to reach USD 46.7 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a 40% revenue share in the market in 2022. Government agencies in the United States and Canada have actively promoted cybersecurity in critical infrastructure sectors, including aerospace. This involvement can drive investments and initiatives to enhance cybersecurity capabilities. Therefore, owing to these factors, the segment will grow rapidly in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 25.3 Billion |
| Market size forecast in 2030 | USD 46.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8.1% from 2023 to 2030 |
| Number of Pages | 245 |
| Number of Tables | 429 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, Type, Deployment, Application, Region |
| Country scope |
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| Companies Included | Honeywell International, Inc., Lockheed Martin Corporation, Astronautics Corporation of America, Thales Group S.A., BAE Systems PLC, Airbus SE, Northrop Grumman Corporation, The Aerospace Corporation and Cisco Systems Inc. |
By Component
By Application
By Deployment
By Type
By Geography
This Market size is expected to reach $46.7 billion by 2030.
Rising digitalization in aerospace systems are driving the Market in coming years, however, Rising technological complexity and legacy systems restraints the growth of the Market.
Honeywell International, Inc., Lockheed Martin Corporation, Astronautics Corporation of America, Thales Group S.A., BAE Systems PLC, Airbus SE, Northrop Grumman Corporation, The Aerospace Corporation and Cisco Systems Inc.
The expected CAGR of this Market is 8.1% from 2023 to 2030.
The On-Premise segment led the Market by Deployment in 2022; there by, achieving a market value of $26.4 Billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $15.8 Billion by 2030.
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