The Global Defense Cyber Security Market Growth Accelerated By Rising Cyber Threats
Defense cyber security systems help governments and militaries to protect classified data, communication networks and critical infrastructure from continuously evolving cyber threats. Defense cyber security solutions provide endpoint detection, network forensics, encryption and identity management which helps in maintaining confidentiality and integrity of defense operations. With rising instances of cyber-attacks on critical national infrastructure and espionage attempts, governments across the world are increasingly allocating greater funds towards bolstering their cyber defenses.
The global Defense Cyber Security Market is estimated to be valued at Us$ 21.62 Bn in 2024 and is expected to exhibit a CAGR Of 5.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding threat landscape driven by rising sophistication of cyber attacks and involvement of hacker groups backed by nation states has accelerated the demand for more advanced defense cyber security systems. Next generation cyber defense solutions involving technologies such as artificial intelligence, blockchain, mobile device management and secure access service edge are being adopted to ensure round the clock monitoring of networks, detection of anomalies and swift response against intrusions. Continuous innovations in cyber defense coupled with focus on training cyber warriors is expected to further fuel the growth of defense cyber security market over the coming years.
Segment Analysis
Given the geopolitical sensitivities and increasing threat of cyber-attacks on military and defense infrastructures, the network security segment dominated the global defense cyber security market in 2022. Network security solutions including firewalls, virtual private networks, intrusion prevention/detection systems, and antivirus/antimalware are indispensable for controlling access points, detecting network breaches, and protecting sensitive data stored within military networks. Such solutions provide automated threat prevention and remediation capabilities round the clock to ensure continuity of critical military operations.
Key Takeaways
The Global Defense Cyber Security Market Demand is expected to witness high growth over the forecast period driven by increasing dependency of armed forces on digital technologies and growing sophistication of cyber-attacks by nation-state actors and terrorist groups. Significant investments by major military powers in developing innovative cyber defense capabilities also supports the market expansion. The global Defense Cyber Security Market is estimated to be valued at US$ 21.62 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
Regional analysis
North America accounted for the largest share of the global defense cyber security market in 2022 led by heavy investments by US Department of Defense (DoD) in procuring next-gen solutions and partnering with domestic tech firms for R&D of offensive and defensive cyber capabilities. Rapid digitization of weapons systems and networks also drives demand for network and endpoint protection in the region. Europe is anticipated to grow at a noteworthy pace during the forecast period with growing focus of NATO and individual European nations on countering advanced persistent cyber threats from Russia and other adversaries.
Key players
Key players operating in the defense cyber security market are Lockheed Martin, Northrop Grumman, Raytheon, General Dynamics, BAE Systems, Booz Allen Hamilton, CACI International Inc, Salient CRGT, Defense Group Inc., KeyW Corporation. Lockheed Martin is a leading systems integrator and provider of critical cyber defense solutions to the US DoD and allied militaries globally. Northrop Grumman is a major contractor for intelligence/surveillance platforms and cybersecurity technologies.
Get more insights on this topic :
Comments
Post a Comment