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.
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.
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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.
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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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