Aviation Cyber Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 05/08/2018 -- Aviation cyber security solutions are software suites designed to defend aviation networks, computers, and databases from cyber-attacks and unauthorized access. As the burgeoning global aviation industry becomes more dependent on information technology (IT) solutions and digital technologies to meet the continuously rising consumer base and changes in consumer preferences, cyber security has become a serious and urgent concern. Cyber-attackers are becoming more sophisticated in the ways they attack aviation systems and companies in the aviation market are leaving no stone unturned to make their systems comprehensively secured to ensure smooth operations and high-quality services to their consumers.
An increasing number of airport and airline operators are deploying effective security systems and solutions to protect their IT systems and infrastructure from cyber-attacks. These solution help in protecting the critical infrastructures and reducing the severity of cyber-threats, which can otherwise cause heavy financial losses and disruptions in the worldwide transportation network. The demand for better aviation cyber security solutions such as unified threat management, identity and access management, risk and compliance management, and vulnerability management for the aviation sector are expected to significantly drive the global aviation cyber security market over the forecast period.
Transparency Market Research states that the revenue valuation of the global aviation cyber security market stood at US$2,545.2 mn in 2016. The market is projected to expand at a CAGR of 7.4% from 2017 to 2025 and reach US$4,759.3 mn by 2025.
aviation cyber security market
Managed Security Services to Continue to Witness Strong Growth
In terms of services, the global market for aviation cyber security is segmented in the report into managed security solution, training, and consulting. Of these, the segment of managed security solutions presently accounts for a massive chunk of revenue in the global market and is expected to hold over 73% of the global market by the end of the report's forecast period. The segment will significantly benefit from the increasing adoption of outsourced monitoring and management solutions in the aviation industries across regions such as North America, Europe, and Asia Pacific. The segment is expected to expand at a promising 7.4% CAGR from 2017 to 2025.
However, the segment of training services is expected to lead in terms of growth rate over the forecast period. The demand for training services in the global aviation cyber security market is expected to exhibit a 7.9% CAGR from 2017 to 2025.