The global aviation and defense cybersecurity market will reach $61.9 billion by 2020, reflecting a compound annual growth rate of 9.34 percent from 2015, according to a forecast by market research firm MarketsandMarkets.
“With the rising cost of on-premise cybersecurity solutions and difficulty in operational convenience, the demand for on-cloud deployment of cybersecurity solutions is increasing at a rapid pace,” the report said. “The increased rate of cyberattacks and hacking across the globe has further propelled the demand for on-cloud deployment.”
North America will remain the largest aviation cybersecurity market though the fastest growth will be in Latin America.
