IoT in Aerospace & Defense Market 2024: Global Size, Supply-Demand, Future Opportunity Assessment And Forecast To 2033 | Prominent Player Are AeroVironment Inc., AT&T Intellectual Property, FreeWave Technologies Inc., General Atomics Aeronautical Systems Inc., Honeywell International Inc.

The IoT in Aerospace & Defense by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s comprehensive analysis on IoT in Aerospace & Defense, the market has experienced remarkable expansion in recent years, showcasing a notable ascent from $48.83 billion in 2024 to an anticipated $56.63 billion by the same year, reflecting a robust Compound Annual Growth Rate (CAGR) of 16.0%. This growth in the historical context is attributed to heightened connectivity and communication demands, a surge in predictive maintenance requirements, escalating security concerns, an imperative focus on cost reduction and operational efficiency, and steadfast regulatory support and compliance adherence.

Forecasts for the IoT in Aerospace & Defense market underscore its continued momentum, with expectations of reaching $96.36 billion by 2028, boasting a substantial CAGR of 14.2%. The anticipated growth in the forecasted period is underpinned by an augmented emphasis on cybersecurity, the ascendancy of unmanned systems, heightened attention towards fleet management, strides in edge computing, and the seamless integration of 5G networks. Noteworthy trends on the horizon encompass the evolution of IoT sensors and connectivity, an accelerated embrace of edge computing, heightened cybersecurity prioritization, and the fusion of AI and machine learning within the industry.

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 2024, 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.

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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

Top 5 Major Players:

• AeroVironment Inc
• AT&T Intellectual Property
• FreeWave Technologies Inc
• General Atomics Aeronautical Systems Inc
• Honeywell International Inc

The landscape is further enriched by a key trend gaining prominence – product innovation. Leading entities within the IoT in Aerospace and Defense domain are strategically investing in pioneering products. A case in point is the collaboration between EDJX, a US-based computing platform company, and Cubic Corporation, a technology solutions stalwart. Their joint venture resulted in the creation of an Internet of Military Things Edge Platform, a meticulously crafted amalgamation of Cubic Corporation’s cutting-edge edge computing and networking technology with EDJX EdjOS. This innovation delivers a converged infrastructure solution, presenting profound implications for IoT and avant-garde AI solutions. Unveiled in September 2021, the EDJX platform signifies a monumental leap in edge computing capabilities, enabling intelligent IoT and C2 application solutions to seamlessly scale from base to battlefield. This not only reduces cognitive load but also augments operational tempo for military personnel.

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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

List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global IoT in Aerospace & Defense Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global IoT in Aerospace & Defense Market, Segmentation By Connective Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global IoT in Aerospace & Defense Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…

Table 76: AeroVironment Inc. Financial Performance
Table 77: AT&T Intellectual Property Financial Performance
Table 78: FreeWave Technologies Inc. Financial Performance
Table 79: General Atomics Aeronautical Systems Inc. Financial Performance
Table 80: Honeywell International Inc. Financial Performance

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