Global military cyber security market is expected to be worth nearly US$10 Billion in 2017 and is expected increase to reach almost US$14 Billion by 2027, representing a CAGR of about 3.5% during the forecast period. Since 2007, the internet has been transformed into a battleground for many modern conflicts, with groups of hackers trying to publicize their cause, and several of these groups acting on behalf of their respective governments in order to disrupt critical processes or steal valuable data.
Global market for military cyber security is projected to be valued at over US$130Billion during the forecast period, and is expected to be dominated by North America, followed by Asia-Pacific and the European markets. North America, which has traditionally been the largest spender in terms of military equipment, is projected to garner a share of nearly 63% in the global military cyber security market during 2017-2027. Spending in the region will be largely driven by the US’s ongoing and future procurements of cyber security systems.
In terms of segments, network security is expected to account for the highest proportion of spending, followed by markets for data security, identity and access, and cloud security. The increasing dependence of armed forces on information technology in the areas of weapons systems, satellite networks, and intelligence-gathering has resulted in an increase in cyber-attacks on military networks by various state and non-state actors.
During 2017-2027, North America is expected to lead the global cyber security market with a cumulative expenditure of nearly US$82 Billion. The spending in the region will be largely driven by the US’s ongoing and future procurement programs, which comprises a large majority of the region’s overall investment in cyber security solutions.
The report “The Global Military Cyber Security Market 2017-2027” offers detailed analysis of the Global Military Cyber Security Market over the next 10 years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for military cyber security.
In particular, this report provides the following -
- Overview: Snapshot of the military cyber security market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the military cyber security market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the military cyber security market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the military cyber security market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the military cyber security segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of the competitive landscape of the global military cyber security industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: Northrop Grumman, Lockheed Martin, Raytheon, General Dynamics, Thales, BAE Systems, Panda Security, Booz Allen Hamilton, CACI International Inc., NetCentrics, Airbus, Salient CRGT, Digital Management Inc., KeyW Holding Corporation, Camber Corporation, Checkpoint Software Technologies, ManTech International Corporation.
The global military cyber security market, valued at US$9.8 billion in 2017, is projected to grow at a CAGR of 3.53% over the forecast period, to reach US$13.8 billion by 2027 and cumulatively value US$130.7 billion. The market consists of four categories -
- network security, data security, identity and access, and cloud security.
- The market is expected to be dominated by network security, which will account for 38.5% of the market, followed by the data security and identity and access segments with shares of 25.6% and 19.3% respectively.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military cyber security market over the next ten years
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- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
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- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the global military cyber security market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military cyber security providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available