Although the vendor landscape
of the global market for aviation cyber security is largely
fragmented, the top five companies accounted for a significant 59% of
the global market in 2016, observes Transparency Market Research in a
recent report. The market features a high level of competition, which
has intensified in the past few years owing to the large numbers of
acquisitions and mergers undertaken by key players. Leading vendors
in the market continue to resort to these strategies as a way of
adding unique services and product offerings to their portfolio and
gain extra leverage through an expanded consumer base. Recent
instance would be the acquisition of Lacoon Mobile Security, an
Israel-based mobile security company, by Palo Alto Networks, Inc. In
2015.
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The Press Release:
http://www.transparencymarketresearch.com/pressrelease/aviation-cyber-security-market-2017-2025.htm
The market is also tough for
new and small vendors to enter. Firstly, due to the intense
competition and secondly, due to the fact that leading players enjoy
strong presence and excellent consumer loyalty across key regional
markets, making it difficult for new vendors to make their mark in
the global aviation cyber security market. The top five vendors in
the market (in terms of revenue collected from offerings in the field
of aviation cyber security solutions) are Raytheon Company, BAE
Systems Inc., General Dynamics Corp., Thales SA, and Harris Corp.
Transparency Market Research
projects that the global market for global aviation cyber security
will exhibit a promising 7.4% CAGR from 2017 to 2025, rising from a
valuation of US$2,545.2 mn in 2016 to US$4,759.3 mn by 2025.
South
America to Present Most Lucrative Growth Opportunities; North America
to Continue to Dominate
In terms of geography, North
America was the leading revenue contributor to the global aviation
cyber security market in 2016, with the U.S. being the hub of the
majority of players in the market. North America accounted for a
massive 36.6% of the global aviation cyber security market in 2016
and is expected to remain the leading contributor of revenue to the
global market throughout the forecast period as well. However, the
well-established market is expected to suffer from stagnancy and
dearth of new growth opportunities, succumbing a major loss in its
global market share by the end of the forecast period.
On the other hand, the market
in South America is expected to be the most promising regional
market, with an impressive 12.8% CAGR from 2017 to 2025. In terms of
services, managed security services are expected to continue to
witness strong growth over the report’s forecast period and account
for nearly 73% of the overall revenue of the global aviation cyber
security market by the end of the forecast period.
Rising
Expenditure of Aviation Companies on IT Solutions to Remain Key
Driver
Factors such as the rising
numbers and complexity of cyber-attacks on aviation systems, the
increased investment of aviation companies on enhancement of their IT
infrastructure, and the vast rise in the adoption of commercial
aviation services, especially across emerging economies in regions
such as Asia Pacific and South America are the key drivers of the
global aviation cyber security market. However, the high initial cost
of deployment of advanced aviation cyber security solutions could
discourage many small-scale aviation service providers from adopting
them, hampering the growth prospects of the market to a certain
extent.
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