Portland, OR, March 13, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aerospace cyber security market garnered $39.7 billion in 2021 and is estimated to generate $92.0 billion by 2031, manifesting a CAGR of 9.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report Coverage & Details:
|Market size in 2021||$39.7 billion|
|Market size in 2031||$92.0 billion|
|No. of Pages in Report||292|
|Segments covered||Type, Deployment, Application, Component, and Region|
|Drivers||Rising severity of cyber-attacks against aviation|
|Advancements required to support passenger traffics|
|Growing inclination of companies towards offering effective cybersecurity solutions|
|opportunities||Increasing use of modern technologies and automation|
|Restraints|| Limited awareness related to cybersecurity and lack of cybersecurity professionals or workforce.|
- The outbreak of the COVID-19 pandemic accelerated the development and adoption of cybersecurity services for application in the changing needs of surveillance and control missions.
- As the number of threats is growing fast, aerospace cybersecurity will play a pivotal role. The rapid inclination toward digitization through all kinds of channels makes it a target for cybercriminals, and rogue states.
The report offers a detailed segmentation of the global aerospace cybersecurity market based on type, deployment, application, component, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the content security segment contributed to nearly one-third of the global aerospace cyber security market share in 2021 and is projected to maintain its lead in terms of revenue during the forecast period. The wireless security segment, on the other hand, would display the fastest CAGR of 10.3% throughout the forecast period. The report also discusses network security and cloud security segments.
Based on deployment, on premise segment accounted for the highest share in 2021, contributing to more than half of the global aerospace cyber security market and is expected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the fastest CAGR of 9.7% throughout the forecast period.
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Based on application, the satellite segment held the largest share in 2021, garnering nearly two-fifths of the global aerospace cyber security market revenue. However, the aircraft segment is expected to rule the roost in terms of revenue during the forecast period. The drones segment, on the other hand, is expected to showcase the fastest CAGR of 9.8% during the forecast period.
Based on component, the solutions segment accounted for the highest share in 2021, contributing to nearly two-thirds of the global aerospace cyber security market share in 2021 and is expected to maintain its lead in terms of revenue during the forecast period. Also, the same segment is expected to manifest the fastest CAGR of 9.3% during the forecast period.
By region, North America held the largest share in 2021, contributing to nearly one-third of the global aerospace cyber security market revenue. In addition, the Asia-Pacific region is expected to rule the roost during the forecast period. Also, the same segment would portray the fastest CAGR of 10.5% from 2022 to 2031.
The key market players analyzed in the global aerospace cyber security market report include DXC Technology Company, Raytheon Technologies Corporation, Lockheed Martin Corporation, BAE Systems, Astronautics Corporation of America, Northrop Grumman Corporation, International, Inc., Thales Group, EUROCONTROL, The Aerospace Corporation.
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The report provides a detailed analysis of these key players in the global aerospace cyber security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, product portfolio, operating segments, and strategic moves of market players to showcase the competitive scenario.
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