Overview and Scope
IoT in aerospace and defense refers to the use of Internet of Things solutions to increase operational efficiencies and product quality for various activities in the aerospace and defense sector. IoT in aerospace and defense. It improves overall flight safety and control to achieve maximum operating efficiency with features such as predictive maintenance, data analytics, and smart surveillance.
Sizing and Forecast
The iot in aerospace & defense market size has grown rapidly in recent years. It will grow from $48.83 billion in 2023 to $56.63 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increased connectivity and communication needs, demand for predictive maintenance, rising threats and security concerns, cost reduction and operational efficiency, regulatory support and compliance.
The iot in aerospace & defense market size is expected to see rapid growth in the next few years. It will grow to $96.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to increased emphasis on cybersecurity, rise of unmanned systems, focus on fleet management, advancements in edge computing, integration of 5g networks. Major trends in the forecast period include advancements in iot sensors and connectivity, rapid adoption of edge computing, increased emphasis on cybersecurity, integration of ai and machine learning, advancements in iot sensors and connectivity, focus on predictive maintenance.
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The iot in aerospace & defense market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Connectivity Technology: Cellular, Wi-Fi, Satellite Communication, Radio Frequency
3) By Deployment Mode: On-Premise, Cloud
4) By Application: Fleet Management, Inventory Management, Equipment Maintenance, Security, Other Applications
5) By End User: Space Systems, Ground Vehicles, Other Users
North America was the largest region in the IoT in the Aerospace and Defense market in 2023. The regions covered in the iot in aerospace & defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in cyber-attacks on the aviation industry is expected to boost the growth of the IoT in the aerospace and defense market going forward. Cyberattacks refer to unwanted attempts to gain unauthorized access to computer systems to steal, expose, change, disable, or destroy information. IoT authentication in the aviation sector can guarantee the necessary cybersecurity security measures, thereby reducing the incidences of cyber-attacks. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, an increase of nearly 13% from the previous financial year. Therefore, an increase in cyber-attacks on the aviation industry is driving the growth of the IoT in the aerospace and defense market.
Key Industry Players
Major companies operating in the IoT in aerospace and defense market are developing new firmware security solutions to gain a competitive edge in the market. Firmware security refers to the measures and practices implemented to safeguard the firmware—the permanent software programmed into a device’s read-only memory (ROM) or flash memory—from unauthorized access, alterations, or malicious activities. For instance, in March 2023, OP[4], a US-based security solutions company launched a cybersecurity platform. The innovative security platform is designed to automatically discover and address N-Day and 0-Day vulnerabilities in Internet-of-Things (IoT) devices and embedded systems. OP[4] plans to release industry-specific versions for Consumer IoT, Aerospace & Defense, and Telecommunications markets. The platform, leveraging simulation of running devices, distinguishes active and inactive code to assess risk at the binary level. With a fully automated system, OP[4] accurately detects, isolates, validates, classifies, prioritizes, and remediates vulnerabilities, allowing product development teams to focus on critical issues and enhance time-to-market efficiency. The platform emphasizes developer experience, providing targeted insights and risk prioritization throughout the product development cycle.
The iot in aerospace & defense market report table of contents includes:
1. Executive Summary
2. IoT in Aerospace & Defense Market Characteristics
3. IoT in Aerospace & Defense Market Trends And Strategies
4. IoT in Aerospace & Defense Market – Macro Economic Scenario
5. Global IoT in Aerospace & Defense Market Size and Growth
……..
31. Global IoT in Aerospace & Defense Market Competitive Benchmarking
32. Global IoT in Aerospace & Defense Market Competitive Dashboard
33. Key Mergers And Acquisitions In The IoT in Aerospace & Defense Market
34. IoT in Aerospace & Defense Market Future Outlook and Potential Analysis
35. Appendix
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