According to a new report, published by KBV research, 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.
In an era dominated by technological advancements, the aerospace industry stands at the forefront of innovation, pushing the boundaries of human exploration and connectivity. As aircraft become more sophisticated, interconnected, and reliant on digital systems, cybersecurity in aerospace has become paramount. The market has emerged as a critical component in safeguarding the integrity, confidentiality, and availability of information and systems within this dynamic industry.
The Services segment is generating the highest revenue in the Global Aerospace Cyber Security Market by Component in 2022; thereby, achieving a market value of $25.9 Billion by 2030. The aerospace industry faces a constantly evolving and sophisticated threat landscape. As technology advances, cyber threats become more complex and diverse. To combat these threats effectively, companies in the aerospace sector require specialized services that can adapt to and mitigate emerging cybersecurity risks. Therefore, these factors can help in the expansion of the segment.
The Aircraft segment is registering a CAGR of 7.6 % during the forecast period. Modern aircraft are equipped with numerous digital systems and avionics that require connectivity for communication, navigation, entertainment, and maintenance. This connectivity exposes aircraft to cyber threats, making cybersecurity a critical concern. Therefore, these aspects can help in the growth of the segment.
The On-Premise segment led the Global Aerospace Cyber Security Market by Deployment in 2022; thereby, achieving a market value of $26.4 Billion by 2030. Aerospace companies often deal with highly sensitive and classified information. On-premise solutions can provide a higher level of control and security than cloud-based alternatives, making them preferable for organizations prioritizing data security. The aerospace industry has to comply with strict regulations and compliance requirements. Some regulations may necessitate using on-premise cybersecurity solutions to ensure data protection and regulatory compliance. Thus, the segment will expand rapidly in the coming years.
The Network Security segment is growing at a CAGR of 7.6 % during the forecast period. Modern aerospace systems are becoming more connected and reliant on digital technologies. This increased connectivity introduces vulnerabilities that cyber threats could exploit. As a result, there is a growing need for robust network security solutions to safeguard critical aerospace infrastructure. Thus, these factors can boost the demand in the segment.
Full Report: https://www.kbvresearch.com/aerospace-cyber-security-market/
The North America region dominated the Global Aerospace Cyber Security Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15.8 Billion by 2030. The Europe region is anticipated to grow at a CAGR of 7.9% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 8.8% during (2023 - 2030).
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