New York, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The defense cybersecurity market, valued at USD 24.56 billion in 2023, is projected to reach USD 81.6 billion by 2033, with a notable 13.1% CAGR.
The surge in military demand and the escalating frequency of cybersecurity attacks are key drivers for this growth. Cybersecurity, a set of practices and advanced technologies, safeguards systems, information, and computer programs from unauthorized access and potential damage. With over 550 companies experiencing data breaches in 2023, the global average cost of a breach reached USD 4.45 million, prompting a 15% increase in security funding across organizations.
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Defense plays a critical role in national security, utilizing cyber capabilities to combat cyber threats on battlefields and protect sensitive information. The defense sector's mission-oriented nature and structured approach contribute to effective cyber defense measures. Governments worldwide are recognizing the gravity of cyber threats, implementing regulatory frameworks, and establishing cybersecurity agencies to secure vital infrastructure. The defense cybersecurity market's pivotal role in military applications positions it for continued growth, reflecting the increasing importance of safeguarding critical data in the evolving landscape of cyber threats.
Key Takeaways
- Software and services dominate the platform market segment due to the growing intricacy of cyber threats that require constant monitoring and updating of security measures.
- Cyber threat protection rules the solution market segment due to its wide range of cybersecurity measures.
- Application security leads the type market segment as it secures software applications from external threats.
- Land force rules the end-user market segment due to their extensive use of digital and communication technologies in operations.
- North America commands a 39% share of the global defense cybersecurity market, driven by substantial U.S. investments in national security.
Driving Factors
Raise in Attack Vectors Strengthen Cybersecurity Demands
Technological evolution has exposed new vulnerabilities, necessitating robust and sophisticated cybersecurity measures. The defense sector, in particular, faces unique challenges in protecting these emerging technologies from cyber threats. The imperative for market growth in the defense sector is fueled by the development and deployment of advanced cybersecurity solutions, crucial for shielding against continuously evolving threats.
Government Financial Support Accelerates
Governmental monetary obligations towards military and defense cybersecurity underpin market expansion. For example, the Defense Threat Reduction Agency (DTRA) increased its cyber capabilities budget by $19.3 million in 2023. the U.S. Department of Defense earmarked $7.4 billion for cyberspace operations in its 2024 fiscal year budget, including a significant allocation for the U.S. Cyber Command (CYBERCOM). Data Loss Prevention is pivotal in fortifying the Defense Cybersecurity Market, shielding sensitive information from potential threats and breaches. Data Loss Prevention is pivotal in fortifying the Defense Cybersecurity Market, shielding sensitive information from potential threats and breaches.
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Restraining Factors
Legacy Systems Hinder Transforming in the Defense Cybersecurity Market
The older systems are often challenging to update and secure, rendering them vulnerable to cyber threats. The U.S. Government Accountability Office continues to identify legacy IT as a major security risk, highlighting the difficulty of integrating these systems with contemporary cybersecurity tools. Such circumstances create a significant obstacle in modernizing defense cybersecurity infrastructure, as the integration process is fraught with complexities and potential security loopholes, thereby slowing down the adoption of advanced cybersecurity solutions in the defense sector.
Growth Opportunities
AI and Machine Learning Amalgamation Boosts Defense Cybersecurity Market
These technologies are being adopted for critical tasks like threat detection, intelligence gathering, and predictive analytics. With ongoing improvements in algorithms and computational capabilities, AI and ML are poised to significantly enhance cybersecurity defenses. The U.S. Air Force's 2021 pilot of an AI-based predictive maintenance system exemplifies this trend. As these technologies evolve and prove their efficacy, their adoption in defense cybersecurity will likely increase, driving market growth and transforming cybersecurity strategies in defense sectors.
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| Report Attribute | Details |
| Market Value (2023) | US$ 24.56 Billion |
| Market Size (2033) | US$ 81.6 Billion |
| CAGR (from 2024 to 2033) | 13.1% from 2024 to 2033 |
| North America Region Revenue Share | 39% |
| Historic Period | 2016 to 2023 |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
Regional Analysis
North America commands a 39% share of the global defense cybersecurity market, driven by substantial U.S. investments in national security. Major defense contractors like Lockheed Martin contribute to the region's dominance, focusing on advanced cybersecurity solutions. The U.S. Department of Defense allocates a significant budget to cybersecurity, emphasizing critical infrastructure protection. In Europe, collaborative initiatives like the European Defense Fund and PESCO underscore the region's commitment to cybersecurity. The Asia-Pacific market experiences growth fueled by heightened geopolitical tensions, with China, India, and Japan directing substantial resources to enhance cybersecurity infrastructure against rising cyber threats.
Segment Analysis
By platform, software, and services dominate the market segment due to its growing intricacy of cyber threats, requiring constant monitoring and updating of security measures. The continuous evolution of cyber threats mandates regular software updates and professional services, solidifying the pre-eminence of this segment. Hardware, while also crucial, typically involves a one-time investment and lacks the dynamic adaptability offered by software and services. It includes physical devices like secure servers, routers, and hardware firewalls.
By solution type, cyber threat protection rules the market segment due to its wide range of cybersecurity measures focused on protecting defense networks and systems from cyber threats, such as malware, phishing, and advanced persistent threats. Each plays a vital role in providing a comprehensive defense against various cyber threats. Cyber Threat Protection takes centre stage in the market due to its fundamental significance in safeguarding critical defense information and infrastructure.
By type, application security leads the market segment as it secures software applications from external threats. Critical Infrastructure Security & Resilience and Cloud Security are also significant segments, addressing the security needs of defense infrastructure and cloud-based systems, respectively. However, the pivotal role of Application Security in protecting the software that underpins defense operations underscores its market dominance.
By end-user, land force rules the market segment due to their extensive use of digital and communication technologies in operations. The protection of data and communication networks is vital for maintaining operational effectiveness and security. The breadth and scope of digital technologies used by land forces make them the primary market for defense cybersecurity solutions.
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Segments covered in this report
By Platform
- Software & Service
- Hardware
By Solution
- Cyber Threat Protection
- Threat Evaluation
- Security and Vulnerability Management
- Data loss Prevention Management
- Enterprise Risk and Compliance
- Content Security
- Others
By Type
- Critical Infrastructure Security & Resilience
- Application Security
- Cloud Security
- Others
By End User
- Land Force
- Naval Force
- Air Force
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Competitive Landscape Analysis
In the Defense Cybersecurity Market, industry leaders Lockheed Martin Corporation and BAE Systems play a pivotal role in fortifying defense systems. Their advanced solutions cater to specific defense needs, focusing on innovative technologies and robust cybersecurity frameworks. Accenture and IBM Corporation, with extensive IT and cybersecurity expertise, contribute by integrating cutting-edge technologies and strategic consulting services into defense strategies, emphasizing a comprehensive approach to cybersecurity in the realm of national security.
Key Players
- Accenture (Ireland)
- DXC Technology Company
- BAE Systems
- Lockheed Martin Corporation
- Cisco Systems, Inc.
- Leidos Holding Inc. (US)
- AT&T
- Boeing
- EclecticIQ B.V.
- IBM Corporation (US)
Recent Developments
- In December 19, 2023, SimSpace, a US-based market leader in military-grade cybersecurity, today announced that it has closed a $45 million equity raise led by L2 Point Management, a private investment firm specializing in flexible capital solutions for growth companies.
- In April 2023, the first few months of 2023 witnessed a tremendous number of mergers and acquisitions (M&A) and capital placement activity in the cybersecurity segment. Highlighted below are 22 transactions, which are a representative sample of transactions that occurred in the cybersecurity market.
- In 2023, Managed cybersecurity services provider BlueVoyant Inc. announced today that it has acquired cyber defense company Conquest Cyber LLC and raised $140 million in new funding to accompany the acquisition.
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