“Cyber threat” has become a buzzword in the security sector. As much as physical security is still an important consideration, just as much—if not more—damage can be done to IT systems via spyware, malware and phishing.
The aviation sector is currently seeing high demand for cyber security solutions to protect critical information and detect, monitor, report and counter cyber threats while maintaining the integrity of IT systems. While aviation only accounted for 2.32 percent share of the overall cyber security market in 2014, the Global Aviation Cyber Security market is witnessing significant growth and is expected to grow at a CAGR of 5.94 percent from 2014-2019.
TechNavio analysts have identified the key trends expected to impact growth in the Aviation Cyber Security Market through the projected period.
Demand for Cloud-based Security Solutions
One of the major trends in the Global Aviation Cyber Security Market is the increased demand for cloud-based security solutions. Budget constraints and a lack of available resources and expertise are some of the main challenges for companies managing standalone or integrated network components. This is causing many organizations to look to cloud-based IT security solutions that are cost-effective, comply with PCI DSS regulations, and offer round-the-clock system monitoring.
Adoption of IT Security Solutions by SMEs
Many SMEs in the aviation sector are adopting managed security services to protect their critical data mainly because they lack the requisite skills and knowledge to do so themselves.
In a lot of cases, SMEs don’t have the right knowledge base to assess security products and deploy and integrate security infrastructure and software. Instead, they opt for managed security services to implement, monitor, and maintain their security. In addition, these SMEs seek the help of service providers to monitor networks in real-time for unauthorized network intrusions and virus attacks.
Market Consolidation
At the moment, the Global Aviation Cyber Security Market is relatively fragmented between different vendors, including BAE Systems, Boeing, Booz Allen Hamilton, General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon.
However, many pure-play vendors are either being acquired or being approached for acquisition by large corporations for their technological capabilities. This will help larger vendors increase their presence in various markets, gain technological expertise, and enhance their product portfolios. This trend is expected to prevail during the forecast period as large corporations aspire to make the most of the significant growth opportunities in this market.
Technological Convergence
The need to protect networks from advanced cyber threats has led companies worldwide to adopt multiple security solutions, which has increased the complexity of IT infrastructure. To mitigate the effects of such complex infrastructure, companies are opting for converged security solutions, which is boosting the market for solutions like unified threat management and next-generation firewalls.
