Defense Solutions is Expected to Dominate the Global Defense Cyber Security Market
Growing severity of cyber-attacks on
military/government organizations and increasing government initiatives to
secure critical data are a major factor attributable to the
growth of the market.
According to TechSci
Research report, “Global Defense Cyber Security Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Defense Cyber Security is anticipated to
project robust growth in the forecast period with a CAGR of 13.06% through 2028, Various governments
across the world are looking to adopt cybersecurity automation solutions for
their military applications by concentrating on reducing operating expenditures
(OPEX) while maintaining adequate measures against cyberthreats. Further, with the
increasing dependency of military organizations on the internet network, the
frequency and sophistication of cyberattacks are on the rise. To counter all
these vulnerabilities, there is a major focus on adopting cyber security
solutions in the defense sector. Cyber threats are attempts based out of the
internet to damage or disrupt information systems and hack critical information
using various means, such as spyware and malware and by phishing. IT
advancement, communications technologies have been changing the landscape of
almost every country's defense networks. However, with rapidly evolving
technology comes rapidly advancing threats. Cybersecurity solutions help
defense organizations to monitor, detect, report, and handle cyber threats to
maintain data confidentiality.
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Based on Solution, Defense Solutions Segment to Dominate the
market during the forecast period. Attacks on governments, businesses, and
individuals have increased on an exponential basis. Defense infrastructure is
fast becoming a target of choice among both individual and state-sponsored
cyber-attackers, who now acknowledge the value of disrupting security systems
that were previously considered impenetrable. The increased adoption of
machine-to-machine technologies in the aerospace domain and the focus of the
governments on enhancing cyber security to counter cyber terrorism has led to
the growth of the cyber security market in this sector in the past decade. The
defense companies, such as BAE Systems PLC, General Dynamics Corporation,
Finmeccanica S.p.A., are engaged in developing cyber security solutions in the
defense industry, especially in designing network security solutions and
software, to prevent cyber-attacks on military software systems, proving the
increasing demand from the sector. Navigation and guidance systems can be
highly susceptible to cyber-attacks, which can have widespread ramifications.
Hence, the computers and networks for all the ground and air-borne operations
need robust security infrastructure.
Based on Region, North
America to be the Fastest Growing Market. North America presently holds the
largest market for cyber security solutions. The strong presence of several
market incumbents, coupled with recent security threats in the region, and the
thriving defense industry is expected to drive the adoption of these solutions
further. Due to the increasing incidents of cyberattacks in the country, the
governments in this region are significantly investing in dealing with these
cyber attacks. As a major developed economy, the United States is highly
dependent on the Internet and is therefore highly exposed to cyber-attacks. At
the same time, the country has substantial capabilities in defense due to
advanced technology and a large military budget. Malicious hacking from domestic
or foreign enemies remains a constant threat to the United States. In response
to these growing threats, the country has developed significant cyber
capabilities for the defense sector.
Moreover, the United
States Cyber Command centralizes command of cyberspace operations, organizes
existing cyber resources, and synchronizes defense of US military networks. The
recent annual budget plans of the US government earmarked more than USD 11 billion
for cybersecurity-related initiatives and USD 9.6 billion for the FY 2020
budget, specifically for the Defense Department Cyber Operations. This was done
due to the increasing number of cyberattacks in the country. Also, according to
an Atlas VPN investigation, the US government is set to allocate USD 18.78
billion for cybersecurity spending in the FY 2021 budget. In addition, the DOD
digital security budget may amount to over 50% of the whole federal
cybersecurity spending. Canada is expected to have a significant market share
for the defense cybersecurity market. Expanding the cyber defense budget,
government initiatives to secure a computerized framework, and spotlight on
reinforcing cybersecurity approaches are the key driving element affecting the demand
in the country. Besides, the foundation of cybersecurity units and deploying
powerful cybersecurity systems inside government organizations, military and
guard part are further driving business sector development.
Key
market players in the Global Defense Cyber Security Market are following:-
- General Dynamics-CSRA
- Raytheon Technologies
Corporation
- SAIC
- Lockheed Martin
Corporation
- CACI International
Inc.
- L3 Harris Technologies
- Northrop Grumman
- Booz Allen Hamilton
Holding Corp.
- Viasat Inc.
- Leidos Holdings Inc.
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“The global Defense
Cyber Security market is driven by several key factors that underscore the
critical importance of robust cyber security measures for defense organizations
worldwide. These drivers include the escalating sophistication of cyber
threats, including Advanced Persistent Threats (APTs), which necessitate
continuous innovation and investment in cyber defenses. The interconnected
nature of modern defense operations, with increasing reliance on digital
technologies, amplifies the attack surface and drives the demand for cyber
security solutions. Additionally, the growing integration of emerging
technologies like 5G, artificial intelligence, and IoT into military operations
requires corresponding security measures. Geopolitical tensions, nation-state
cyber warfare capabilities, and the need to protect sensitive information all
contribute to the market's growth. International collaboration for threat
intelligence sharing and regulatory compliance also influence cyber security
strategies. As defense organizations recognize the imperative to protect
critical assets and maintain operational readiness, the defense cyber security
market remains dynamic and essential to national security.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Defense Cyber Security Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast Segmented By Solution (Defense
Solutions, Threat Assessment, Network Fortification, Training Services), By
Region, Competition 2018-2028 has
evaluated the future growth potential of Global Defense Cyber Security Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Defense Cyber Security Market.
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