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This paper explores the development of a cybersecurity architecture tailored for Extensible Traffic Management (xTM) to address emerging challenges in managing diverse aerial vehicles within the National Airspace System (NAS). Driven by technological advances and the rise of uncrewed aerial systems (UAS), urban air mobility (UAM), and high-altitude traffic (ETM), the NAS is undergoing a paradigm shift. Traditional air traffic management, reliant on traditional Federal Aviation Administration (FAA) control, will give way to decentralized coordination among autonomous and semi-autonomous systems. The proposed xTM Security Architecture, designed as a high-level framework, focuses on ensuring the confidentiality, integrity, and availability of data and operations in this evolving ecosystem. Utilizing threat modeling, the research identifies potential risks across key flight phases, operations and use cases to offer security control recommendations. Key objectives include analyzing interactions between novel airspace entrants and existing NAS traffic, cataloging vulnerabilities, and developing mitigative strategies to ensure safety, operational stability, and secure data exchanges. This research lays the groundwork for regulatory and industry adaptation, providing critical insights into managing cybersecurity risks in this complex, multi-domain environment.