The global Defense Cyber Security Market is estimated to be valued at US$ 21.62 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The defense cyber security market deals with securing critical defense infrastructure from cyber threats. This includes securing command and control systems, weapons platforms, supply chains, communication networks and other assets from cyber-attacks. Products offered in this market include network and internet security software, antivirus software, firewalls, endpoint security solutions, risk and compliance management solutions, identity and access management solutions and data loss prevention solutions. These solutions help detect cyber threats early on, protect crucial data and systems and ensure seamless communication between defense organizations
Market key trends:
The rising number of sophisticated cyber threats targeting critical defense infrastructure is a key driver of growth in the defense cyber security market. State-sponsored groups and terrorist organizations are increasingly using cyber means to compromise military secrets, disrupt command and control systems and damage reputation. This has prompted defense agencies to significantly ramp up their cyber security budgets and adopt advanced solutions. Another major trend is the increased adoption of cloud solutions for defense networks. While cloud migration improves efficiency, it also expands the attack surface, necessitating robust security controls. Artificial intelligence and machine learning are also being widely utilized to gain automated threat insights and strengthen security posture.
Porter’s Analysis
Threat of new entrants: The Global Defense Cyber Security Market Growth requires huge capital investment and has extensive regulatory requirements which pose significant barriers for new entrants.
Bargaining power of buyers: Defense organizations have considerable bargaining power due to the critical nature of cyber security solutions and availability of several vendors to choose from.
Bargaining power of suppliers: The presence of many solution providers mitigates the bargaining power of individual solution suppliers in this market.
Threat of new substitutes: There are no close substitutes for the cyber security solutions required for defense sector owing to their complex and customized nature.
Competitive rivalry: The competition is intense among the key players in the defense cyber security market due to their global presence and extensive product portfolios.
Key Takeaways
The global defense cyber security market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing spending on cyber security technologies by defense organizations worldwide and growing incidences of cyber attacks.
North America dominates the defense cyber security market and is expected to continue its dominance over the forecast period owing to heavy investments in cyber security by the US government. The Asia Pacific region is expected to grow at the fastest rate due to increasing defense budgets of major countries like China and India along with prevalent threat of cyber attacks.
Key players operating in the defense cyber security market are General Dynamics-CSRA, Booz Allen Hamilton Holding Corp., Northrop Grumman, Raytheon Technologies Corporation, Leidos Holdings Inc., SAIC, Lockheed Martin Corporation, Viasat Inc., CACI International Inc. and L3 Harris Technologies. These key players have extensively invested in research & development to introduce technologically advanced and customized cyber security solutions for defense sector.
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Defense Cyber Security Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the defense cyber security market include Northrop Grumman Corporation, IBM Corporation, Cisco Systems, Intel Corporation, Thales S.A., DXC Technology Company (HP), The Boeing Company, BAE Systems plc, SecureWorks Corp. (Dell), Lockheed Martin Corporation and Raytheon Company.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Defense Cyber Security Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/defense-cyber-security-market/download-sampleMarket DynamicsRising threats of cyber-attacks by organised criminal groups on critical infrastructures and high-value assets, and technological advancements in the information security business, are driving the development of defense cyber security for the defence sector.
Furthermore, enhanced active-arms intelligence, along with identification and surveillance systems, and the high confidentiality of information-gathering systems, has resulted in the employment of software that effectively strengthens cyber defence.
On the other hand, high maintenance costs, the ongoing need to adapt to industry standards, the difficulties of device security, and the lack of a standardised cybersecurity system, on the other hand, are expected to stymie market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The global cyber warfare market is expected to reach USD 91.75 billion by 2025, according to a new study by Grand View Research, Inc.
The increasing number of cyber-attacks are emerging as a significant threat across the globe.
The dependence of organizations on information technology and the valuable & sensitive nature of digitally-stored data have raised the stake for cyber attackers whose primary motive is to disrupt economic growth and gain technological advantages by stealing intellectual properties of national defense forces.
Increased concern towards catastrophic nature of cyber warfare and national security are factors anticipated to drive the market over the forecast period.Cyberspace disruption capabilities have outstripped nation's focus on terrorism.
The increasing cyber-attacks such as abusing digital infrastructure and network infiltration within industries and defense sector have led the government to focus more on cyberspace vulnerabilities.
In light of the growing cyber incidence, increased cybersecurity spending is proposed, and warfare units are established by the governments aimed to protect nation's sensitive information and deter potential of the cyber threat.
