Defense Cybersecurity Market to Touch USD 28.53 Billion by 2030, Attaining a 10.51% CAGR Between 2020 and 2030 – Report by Market Research Future (MRFR)
Defense Cybersecurity Market Report: By Type (Fully Electric and Hybrid), System (Energy Storage Systems, Power Generation, Power Conversion and Power Distribution Systems), Ship Type (Commercial and Defense), Operation (Manned, Remotely Operated and Autonomous) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030 By MRFR
New York, US, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Defense Cybersecurity Market Scope:
According to a Comprehensive Research Report by Market Research Future (MRFR), Defense Cybersecurity Market Report: By Type, System, Ship Type, Operation and Region - Forecast till 2030, Market is projected to grow USD 28.53 Billion at a CAGR 10.51% by 2020-2030
Guard insight, observation, and surveillance frameworks are linked to remote organizations via public lines/in remote places to provide constant, reliable transmission of this information. In other words, such architectures are impervious to hacking attempts. Organizational security is often compromised due to a variety of threats, including but not limited to: specific sending, data breaches, Sybil attacks, crypto-jacking, sinkhole attacks, and wormholes.
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 28.53 Billion |
| CAGR | 10.51% (2020-2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, System, Ship Type, Operation |
| Geographies Covered | North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America |
| Key Market Drivers |
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Competitive Dynamics:
- Airbus SAS (Netherlands),
- Aselsan AS (Turkey),
- BAE Systems plc (UK),
- Booz Allen Hamilton Inc. (US),
- Cisco Systems Inc. (US),
- DXC Technology Company (US),
- IBM Corporation (US),
- Intel Corporation (US),
- Lockheed Martin Corporation (US),
- Northrop Grumman Corporation (US),
- Raytheon Company (US),
- SecureWorks Corp. (US),
- Thales Group (France),
- The Boeing Company (US),
- Verizon Communications (US)
Market USP:
Market Drivers
The officials are the focus of daily fresh threats and warnings. Official agencies are currently attempting to persuade industry professionals in the Federal System integrator community to update their digital transformation plans in the Defense sector so that they can reap the cyber benefit. The global Defense cyber security industry stands to benefit from initiatives aimed at lowering risks, modernizing IT infrastructures, and recruiting top talent.
A number of high-ranking regulatory authorities have indicated that there is no immediate threat to national security. System integrators, such as Microsoft and a number of other companies, are hiring for regulatory agencies to help automate cybersecurity and make up for a lack of skills.
The last decade has seen the growth of the network safety market in this sector due to the widespread use of machine-to-machine advancements in the aviation sector and the focus of state-run administrations on enhancing digital protection to counter digital psychological warfare.
The Defense cybersecurity market is forecasted to see an uptick in ransomware and distributed denial of service (DDoS) assaults over the specified time period, with these threats focusing disproportionately on major companies in a region with a slow adoption rate for cybersecurity solutions. It is believed that ransomware-as-a-service and related toolkits are partly to blame for this increase.
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Market Restraints
Issues with standardizing the operational process create a gap in quality certifications for small and medium-sized businesses. This prevents them from joining together with leading suppliers of cyber defense for the military. Because of this, long-term relationships and contracts with public and commercial organizations may be hampered. In addition, many smaller businesses incur losses because of unexpected shifts in government rules, which can have a significant impact on the ways in which these organizations work. U.S. firms' lack of a strong distribution infrastructure and presence in the emerging markets of Asia and the Middle East also hinders the expansion of these markets.
COVID-19 Analysis:
As a result of the COVID-19 pandemic's impact on the market, certain countries now have the strategic groundwork in place to deal with the inevitable financial setbacks. However, numerous government agencies throughout the world are looking to adopt online protection mechanization solutions for their tactical applications, with a particular emphasis on lowering operating expenses (OPEX) while maintaining adequate safeguards against cyber attacks.
Market Segmentation:
By Component
Arrangement subsegment is also anticipated to grow at the highest compound annual growth rate (CAGR) over the forecast period. This is due to the worldwide increase in demand for network security arrangements such as executive-level risk assessment and response, board-level security and vulnerability analysis, executive-level risk coordination, and board-level oversight of network security.
By Deployment
In 2018, the defense cybersecurity market was dominated by the On-Premises sector. Growth is anticipated to be led by the rising need for on-premise solutions for command and control of various defense systems including intelligence, surveillance, and tracking, as well as rockets and fire control.
Regional Analysis:
The largest market for defense cybersecurity is found in North America. This is because of the strong presence of a few market occupiers, constant security threats in the area, and the thriving security industry. Since cyberattacks have become increasingly common, the states in this region are pooling their resources to combat them. The United States, as a major industrialized economy, is highly dependent on the Internet and thus highly vulnerable to cyberattacks. At the same time, thanks to state-of-the-art technology and a colossal investment in the military, the country possesses formidable defensive capabilities. The United States continues to face a persistent threat from malicious hacking, whether by domestic actors or foreign adversaries. In response to these evolving threats, the country has developed significant digital capabilities in the security sector.
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During the foreseen time period, demand for online security arrangements is expected to be supported by the growing acceptance of cutting-edge frameworks by the tactical association in Europe for carrying out insight, observation, and surveillance missions.
The region of Asia and the Pacific is expected to expand at the fastest rate over the projected period. South Korea, Japan, and Australia, all of which are highly susceptible to cyber threats, are investing more and more in cybersecurity services, which is helping to fuel the region's expansion.
The remaining areas of the planet include places like Africa, Latin America, and the Middle East. Increased adoption of cybersecurity technologies in naval and airborne based systems is credited with driving the market in the Middle East and Africa. Government spending increases in nations like Brazil and Colombia on cutting-edge cybersecurity software point to a bright future for the Latin American sector.
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