Defense Cyber Security Market

The global defense cyber security market size was valued at USD 17.22 Billion in 2022 and is expected to reach USD 24.94 Billion by 2031, expanding at a CAGR of 4.2% during the forecast period, 2023–2031. The growth of the market is attributed to continuous advancement of information technology and modernization of existing weapons through reconnaissance and surveillance. 

Cyber security is about protecting systems connected to the Internet, including hardware, software, and data from cyber-attacks. A more interconnected world of defense and aintelligence means that combatants can obtain more information fast and more accurately than ever before.

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Privacy measures are some of the key factors driving the development of the defense cyber security market. Lack of technical knowledge and experience will hinder the national defense cyber security market.

Defense Cyber Security Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand from defense IT expenditure is expected to boost the market during the forecast period.
• Rapid growth of the security industry due to increasing defense sector as well as IT sector is major factors fueling the market in the coming years.
• Growing incidence of cyber-attacks on military organizations is expected to drive the market during forecast period.
• High installation cost of cyber security systems in organizations is projected to restrict the market growth.
• Lack of awareness about cyber security certifications act as major challenges that hampers the market growth.
• R&D investment and technological advancement in cyber security systems by adoption of IoT is projected to create immense opportunities for the market players.

Scope of Defense Cyber Security Market Report

The report on the global defense cyber security market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Defense Cyber Security Market Segment Insights

Platform Segment Analysis

Based on platform, the defense cyber security market is bifurcated into hardware, software, and services. The hardware segment is anticipated to expand at a rapid pace during the forecast period owing to defense information technology (IT) infrastructure modernization programs by governments in countries such as the United States, China, and India.

Cyber threats in the military subsystem are forcing governments of different countries to strengthen their cyber security services through partnerships with key service providers.

On the other hand, the software segment is estimated to expand at a substantial CAGR during the forecast period due to adoption of on-premises and cloud security platforms by major players worldwide. In addition, the growing importance of software in the digitalization of military operations should drive growth in this area.

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Deployment Segment Analysis

Based on deployment, the defense cyber security market is bifurcated into on-premise and cloud. The cloud segment is expected to represent a key share of the market during the forecast period owing to its high speed, scalability, and improved IT security. As more and more cloud-based applications are deployed, the demand for cloud-based network security solutions has increased exponentially.

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Solutions Segment Analysis

Based on solutions, the defense cyber security market is fragmented into network security, training services, IT infrastructure, logistic & operation, and defense solutions. The IT infrastructure segment is expected to account for a key share of the market during the forecast period owing to high cost of purchasing and installing advanced components and systems.

In addition, several countries including China, India, Russia, and the US are implementing expensive network security software and solutions to simplify the traditional defense infrastructure in the high-tech network security system.

Regional Outlook

On the basis of regions, the defense cyber security market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. As the number of cyber-attacks in the country continues to increase, governments in the region is investing heavily in defense against these cyber-attacks.

As one of the largest industrialized countries, the US is highly dependent on the Internet, so it is vulnerable to cyber-attacks. At the same time, due to advanced technology and a huge military budget, the country has huge defense potential.

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Segments

The global defense cyber security market has been segmented on the basis of

Platforms

• Hardware
• Software
• Services

Deployments

• On-premise
• Cloud

Solutions

• Network Security
• Training Services
• IT infrastructure
• Logistic and operation
• Defense Solutions

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Raytheon Company
• Northrop Grumman Corporation
• SAIC
• Lockheed Martin Corporation
• General Dynamics- CSRA

Competitive Landscape

Key players competing in the defense cyber security market include Raytheon Company, Northrop Grumman Corporation, SAIC, Lockheed Martin Corporation, and General Dynamics- CSRA.

Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.