Aviation cyber security market worth $61.85B by 2020

Pune, India – The report "Aviation Cyber Security Market by Component (Service, Solution), by Deployment (On-Cloud, On-Premise), & by Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) - Forecast to 2020" published by MarketsandMarkets, analyzes and studies major market drivers, restraints, opportunities, and challenges in this market.

 

The global aviation cyber security market is projected to reach US$ 61.85 billion by 2020, at a CAGR of 9.34% from 2015 to 2020. This growth is mainly attributed to rise in cyber-threats and cybercrimes by professional attackers on aerospace and defense organizations, thereby creating a threat to the national security.

 

With the rising cost of on-premise cyber security solutions and difficulty in operational convenience, the demand for on-cloud deployment of cyber security solutions is increasing at a rapid pace. The increased rate of cyber-attacks and hacking across the globe has further propelled the demand for on-cloud deployment. This segment dominates the overall aviation cyber security deployment market, and is expected to continue its dominance over the next five years.

 

The global Aviation Cyber Security Market has been segmented and analyzed in terms of two key components, namely, solution and service. The solution segment dominates the overall market, as of 2015. However, the service segment is projected to grow at a comparatively higher CAGR during the forecast period. This growth is mainly attributed to technological advancements in the field of cyber security services introduced by market players to support passenger traffic and combat the increased severity of cyber-threats.

 

The North America region dominates the global aviation cyber security market, as of 2015, followed by Europe. The Latin American region is projected to grow at the highest CAGR during the forecast period. This growth is primarily attributed to the increased use of the Internet in Latin America, which has further resulted in rise in number of cybercrimes and cyber-attacks in several Latin America countries such as Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, and Venezuela. These countries have passed cybercrime legislation and created cyber defense systems. These initiatives made by governments in this region are expected to increase the demand for cyber security services and solutions at a rapid pace.

 

The key players operating in the global aviation cyber security market are Cisco Systems Inc., International Business Machines Corporation (IBM), Raytheon Co., Northrop Grumman Corp., and BAE Systems plc. 

 

The report segments and analyzes the aviation cyber security market on the basis of cyber security component (solution, service), deployment (on-cloud, on-premise), and maps these segments and subsegments across six major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

 

"Aviation Cyber Security Market - Forecast to 2020" offers 68 market data tables with 74 figures spread through 169 pages and in-depth TOC.

 

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