New York, United States, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The Global Defense Cyber Security Market Size is to grow from USD 13.97 Billion in 2022 to USD 48.78 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.3% during the projected period. The increasing adoption of machine-to-machine technologies in the aerospace sector, as well as the increased focus of officials on improving cyber security to combat cyber terrorism, have resulted in the rise of the cyber security market, which is expected to drive the growth of the global Defense cyber security market.
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Cybersecurity includes the protection of assets from cybercrime, terrorism, and other network service disruptions that may disrupt daily operations. It can be accomplished by actively monitoring IT assets, exposing outages or malicious movement, and responding quickly to interruptions. Similarly, the defense industry is moving toward the digital age, with increasing digital data generation, storage, and transmission. Cybersecurity solutions assist a defense organization in monitoring, detecting, reporting, and combating cyber threats, which are internet-based attempts to damage or disrupt information systems and hack critical information using spyware and malware, as well as phishing, in order to maintain data confidentiality. The growing use of cloud-based services in defense operations necessitates the implementation of strong cloud security measures. Maintaining information confidentiality, integrity, and availability becomes critical as defense agencies store sensitive data and run critical applications in the cloud. However, costs associated with advanced cybersecurity technologies, skilled personnel, and ongoing maintenance can be significant obstacles.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Defense Cyber Security Market Size, Share, and COVID-19 Impact Analysis, By Platform (Software & Service and Hardware), By Solution (Cyber Threat Protection, Threat Evaluation, Content Security, and Others), By Type (Critical Infrastructure Security & Resilience, Application Security, Cloud Security, and Others), By End User (Land Force, Naval Force, and Air Force), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The hardware segment is expected to grow at a significant pace in the global defense cyber security market during the forecast period.
The growing defense Information Technology (IT) infrastructure modernization programs of governments such as the United States, China, Japan, India, and others can be attributed to the growth of the hardware segment. Rising cyber threats in military subsystems are compelling governments in several countries to strengthen their defense cyber security services through collaboration with key service providers. As a result, the market will grow during the forecast period.
The cyber threat protection segment is expected to hold the largest share of the global defense cyber security market over the forecast period.
The global defense cyber security market is divided into cyber threat protection, threat evaluation, content security, and others based on the solution. Over the forecast period, the cyber threat protection segment is projected to dominate the biggest portion of the global defense cyber security market. Security solutions for cyber threat protection are intended to assist security professionals in defending systems and networks against malware and other specialized cyberattacks.
The application security segment is expected to hold the largest share of the global defense cyber security market over the forecast period.
The global defense cyber security market is segmented by type, including critical infrastructure security and resilience, application security, cloud security, and others. Over the forecast period, the application security segment is projected to command the largest share of the global defense cyber security market. The application security segment is expected to dominate the market due to the various software applications for the defense sector.
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North America holds the largest share of the global defense cyber security market in 2022.
The United States was the dominant player, accounting for a sizable portion of the market. North America's dominant position was primarily due to the region's robust defense industry, high level of cyber threats, and significant government investments in cybersecurity.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global defense cyber security market. The Asia-Pacific defense cyber security market has expanded significantly. Countries such as China, India, Japan, and South Korea have invested heavily in cybersecurity to protect critical infrastructure and sensitive data.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Defense Cyber Security Market include Lockheed Martin, The Thales Group, BAE Systems, General Dynamics, Northrop Grumman Corporation, Raytheon Technologies, Booz Allen Hamilton, Leonardo, Leidos, L3Harris Technologies and Others.
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Recent Developments
- In April 2023, Thales announced the launch of SCRED, a collaborative project involving 11 French companies and organizations focused on cyber security. The project's goal over the next three years is to build a single platform to provide cyber threat intelligence services to businesses and government agencies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Defense Cyber Security Market based on the below-mentioned segments:
Global Defense Cyber Security Market, By Platform
- Software & Service
- Hardware
Global Defense Cyber Security Market, By Solution
- Cyber Threat Protection
- Threat Evaluation
- Content Security
- Others
Global Defense Cyber Security Market, By Type
- Critical Infrastructure Security & Resilience
- Application Security
- Cloud Security
- Others
Global Defense Cyber Security Market, By End User
- Land Force
- Naval Force
- Air Force
Global Defense Cyber Security Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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