The global defense cyber security market size was valued at USD 15.86 billion in 2020 and is expected to reach USD 20.18 billion by 2028, expanding at a CAGR of 4.2% during the forecast period, 2021–2028. 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. 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.
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.
Attributes |
Details |
Report Title |
Defense Cyber Security Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Platforms (Hardware, Software, and Services), Deployment (On-premise and Cloud), and Solutions (Network Security, Training Services, IT infrastructure, Logistic and operation, and Defense Solutions) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Raytheon Company, Northrop Grumman Corporation, SAIC, Lockheed Martin Corporation, and General Dynamics- CSRA |
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.
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.
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.
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.
Segments Covered in the Report
The global defense cyber security market has been segmented on the basis of
Platforms
Deployments
Solutions
Regions
Key Players
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.
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