What Has Driven the Growth of the IoT in Aerospace & Defense Market in Recent Years?
The iot in aerospace & defense market has seen considerable growth due to a variety of factors.
• In recent times, the IoT in aerospace & defense market size has seen significant expansion. The growth is expected to continue with the market value moving from $55.42 billion in 2024 to $63.57 billion in 2025, realizing a compound annual growth rate (CAGR) of 14.7%. Factors contributing to this growth during the historical period include the need for enhanced connectivity and communication, the increasing requirement for predictive maintenance, escalations in threats and security issues, the drive for cost reduction and operational efficiency, and the presence of regulatory support and compliance.
What Is the Forecasted Market Size and Growth Rate for The IoT in Aerospace & Defense Market?
The IoT in Aerospace & Defense market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the IoT in aerospace & defense market is anticipated to witness significant expansion. It is projected to escalate to $112.42 billion in 2029 with a compound annual growth rate (CAGR) of 15.3%.
This growth in the predicted period can be ascribed to factors such as heightened focus on cybersecurity, surge in autonomous systems, emphasis on fleet administration, advancements in peripheral computing, and the assimilation of 5g networks. The projected period will likely see prominent trends like advancements in IoT sensors and connectivity, swift adoption of peripheral computing, enhanced focus on cybersecurity, incorporation of AI and machine learning as well as developments in IoT sensors and connectivity, and a highlight on predictive upkeep.
What Factors Are Driving Growth In The IoT in Aerospace And Defense Market?
The IoT in the aerospace and defense market is projected to experience growth due to rising cyber-attacks on the aviation industry. Cyberattacks are unauthorized attempts made to access computer systems with the aim of stealing, altering, deactivating, or destroying information. To combat this, IoT authentication in the aviation industry can offer necessary cybersecurity measures, thereby reducing the rate of these attacks. For instance, the Australian Cyber Security Centre recorded 76,000 cybercrime reports in 2022, reflecting a nearly 13% increase from the financial year prior, as reported in February 2023. Consequently, the escalating cyber-attacks on the aviation sector are fuelling the growth of the IoT in the aerospace and defense market.
What Are The Main Segments Of The Global IoT in Aerospace And Defense Market?
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
Subsegments:
1) By Hardware: Sensors, Embedded Systems, Connectivity Devices, Drones And UAVs (Unmanned Aerial Vehicles)
2) By Software: IoT Platforms, Data Analytics And Visualization Software, Security Software, Fleet Management Software
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training And Development Services
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What Emerging Trends Are Influencing The Growth Of The IoT in Aerospace And Defense Market?
Product innovation is an emerging trend in the IoT in the aerospace and defense sector that is gaining momentum. Businesses operating in this market, like OnAsset Intelligence, a US-based aerospace and defense technology firm, are steering their attention towards producing new products. For example, in March 2024, they introduced the Sentry 600 FlightSafe, the world's first IoT gateway tailored specifically for aircraft. This groundbreaking gadget aims to turn planes into dynamic connected warehouses, significantly improving both the tracking and administration of air cargo operations. By embedding Bluetooth sensors across the plane, OnAsset is able to continuously monitor aircraft subsystems and the condition of the cargo.
Who Are the Key Players In The IoT in Aerospace And Defense Market?
Major companies operating in the IoT in aerospace & defense market include:
• AeroVironment Inc.
• AT&T Intellectual Property
• FreeWave Technologies Inc.
• General Atomics Aeronautical Systems Inc.
• Honeywell International Inc.
• Northrop Grumman Corporation
• Elbit Systems Ltd.
• Radisys Corporation
• Textron Systems Corporation
• Airbus SE
• Boeing Company
• BAE Systems plc
• SAP SE
• General Electric Company
• Bombardier Inc.
• CACI International Inc.
• Collins Aerospace
• Cubic Corporation
• Curtiss-Wright Corporation
• Dassault Aviation SA
• Embraer SA
• General Dynamics Corporation
• L3Harris Technologies Inc.
• Leonardo SpA
• Lockheed Martin Corporation
• Moog Inc.
• RTX Corporation
• Saab AB
• Safran SA
• Thales Group
• United Technologies Corporation
• Woodward Inc.
What Is The Most Dominant Region In The IoT in Aerospace And Defense Market?
North America was the largest region in the IoT in the Aerospace and Defense market in 2024. 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
