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Aerospace Cyber Security Market Expected to Reach $58.9 Billion by 2032—Allied Market Research

 
2022
Aerospace Cyber Security Market

Report Code : A09068

quote The global aerospace cyber security market is experiencing notable growth driven by escalation in cyber threats, increased digitization, and connectivity in the aerospace sector. The integration of advanced technologies further contributes to this trend. The industry's growth is further fueled by technological advancements and innovation. Moreover, implementation of stringent cyber regulations within the aerospace sector is anticipated to offer significant growth opportunities for companies operating in the market. quote

Sneha Kamble - Lead Analyst
Aerospace and Defense at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Aerospace Cyber Security Market," The market of aerospace cyber security was valued at $26.3 billion in 2022, and is estimated to garner $58.9 billion by 2032, growing at a CAGR of 8.4% from 2022 to 2032.

The aerospace sector has acknowledged the critical need to secure its supply chain against cyber threats. Organizations are actively engaged in evaluating and enhancing the cyber security resilience of their suppliers and partners to mitigate the risk of vulnerabilities entering through the supply chain. Simultaneously, there is a rising trend in incorporating artificial intelligence (AI) and machine learning (ML) into cyber security solutions. These technologies play a pivotal role in augmenting threat detection capabilities, automating response mechanisms, and analyzing extensive datasets to identify patterns indicative of potential cyber threats. In addition, the aerospace industry’s increasing adoption of cloud services has led to a heightened focus on cloud security solutions. These tailored solutions aim to address the unique challenges associated with securing data and applications in cloud environments, all while ensuring strict compliance with industry regulations. 

The A-ISAC is an industry-driven initiative focused on enhancing the cyber security resilience of the aviation sector. It facilitates the sharing of timely and relevant cyber security information among member organizations, fostering collaboration and improving the collective defense against cyber threats. Continuous monitoring of networks and systems for potential threats is a prevailing trend. Aerospace organizations are investing in solutions that provide real-time threat intelligence, helping them stay ahead of emerging cyber threats and proactively respond to potential risks. 

With the anticipated advancements in quantum computing, the aerospace industry is exploring and implementing quantum-safe cryptographic solutions. These cryptographic methods aim to withstand the potential threat posed by quantum computers to traditional encryption algorithms. The integration of artificial intelligence and machine learning in cyber security solutions is advancing. AI and ML technologies enhance threat detection capabilities by analyzing patterns, anomalies, and behaviors in large datasets, enabling more effective and proactive responses to cyber threats. 

The increasing prevalence of connected and smart aircraft underscores the imperative for robust cyber security measures to safeguard against potential cyber threats. This entails securing communication systems, avionics, and other interconnected components. Anticipating this trend, governments and aviation authorities are poised to implement and enforce more stringent regulations pertaining to cyber security in the aerospace sector. Consequently, adherence to these regulations is expected to serve as a pivotal factor driving investments in cyber security solutions. Given the intricate nature of aerospace systems and their reliance on complex supply chains, there is a growing recognition of the need to ensure the cyber security of the entire supply chain. In response, companies are anticipated to prioritize the enhancement of security measures in their supply chain processes to mitigate potential vulnerabilities.

The Impact of the Russia–Ukraine War on Aerospace Cyber Security Industry

The Russia–Ukraine war could cause delays or cancelling of new aircraft orders, affecting the market. The escalation of geopolitical tensions may result in rise in cyber threats, encompassing cyberattacks and espionage activities. Cyber threats, whether state-sponsored or politically motivated, may specifically target critical infrastructure, defense systems, and industries affiliated with aerospace. The occurrence of armed conflicts has the potential to disrupt global supply chains, impacting the aerospace sector's acquisition of components and services. 

The resultant disruptions in the supply chain pose new challenges for cyber security, necessitating organizations to swiftly evaluate and secure alternative suppliers. In response to geopolitical events, organizations often undergo a reassessment of their cyber security posture, intensifying their preparedness against potential cyber threats. Within the aerospace industry, there may be an increased allocation of resources toward cyber security measures, aiming to safeguard sensitive data and crucial systems. 

KEY FINDINGS OF THE STUDY 

  • By type, the cloud security segment is anticipated to exhibit significant growth in the near future. 
  • By deployment, the cloud security segment is anticipated to dominate the aerospace cyber security market in the coming future. 
  • By application, the drones segment is anticipated to lead the market. 
  • By component, the solutions segment is anticipated to exhibit fastest growth from 2023–2032. 
  • By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period. 

The key players operating in the global aerospace cyber security market include Astronautics Corporation of America, BAE Systems, DXC Technology Company, Eurocontrol, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Boeing, Thales Group, and The Aerospace Corporation. These players are adopting strategies such as contract, agreement, and acquisition to improve their market positioning. 

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quote Aerospace Cyber Security Market by Type (Network security, Wireless security, Cloud security, Content security), by Deployment (On-Premise, Cloud), by Application (Aircraft, Drones, Satellite), by Component (Services, Solutions): Global Opportunity Analysis and Industry Forecast, 2022-2032 quote

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