Modern battles are not only fought on air, land and sea, but also in cyberspace. Hostile forces are constantly trying to disrupt or damage critical operations of a country and conduct cyber espionage to access information that are vital to the government and military. Modern militaries across the world are adopting cloud technologies for storing their sensitive databases. The evolution of cloud storage systems has increased the threat of data breaches, as large amount of data is stored in one place making it more susceptible. Despite the implementation of stricter regulations and severe penalties to curb the risks related to placing data on the cloud, cyber-attacks have been increasing against cloud infrastructures.
Cyber-attacks can originate from anywhere in the world and are inexpensive in nature, owing to which adversary forces prefer to engage in cyber warfare techniques instead of conventional warfare. These factors drive the defense establishments across the world to invest in instituting defense capabilities against cyber-attacks. The global military cyber security market is expected to register a CAGR of 3.63%, growing from US$12.5 billion in 2018 to US$17.8 billion by 2028.
Several countries are setting up computer emergency response teams (CERTs) on departmental levels to defend their servers against cyber-attacks. The market consists of four categories: network security, data security, identity and access security, and cloud security. Throughout the forecast period, the market is expected to be dominated by the network security segment, which will account for 35.5% of the market, followed by the data security, and identity and access security segments.
The North American market will be followed by the Asia-Pacific region, which is expected to be the second highest spender on military cyber security during 2018-2028. Asia-Pacific region is also projected to be the fastest growing market during the forecast period. Emerging economies in the region, such as India and China are increasing their defense expenditure along with their cyber security budget. The growing spending of these countries on military cyber security market will fuel the growth of overall Asia-Pacific market over the next decade.
The Global Military Cyber Security Market 2018-2028 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military cyber security, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2018-2028, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of cyber security segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2018-2028.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
Companies Mentioned: Northrop Grumman, Lockheed Martin, Raytheon, General Dynamics, Thales, Radiance Technologies, Booz Allen Hamilton, The KeyW Holding Corporation, CGI Group, ManTech International Corporation
- The global military cyber security market is expected to register a CAGR of 3.63%, growing from US$12.5 billion in 2018 to US$17.8 billion by 2028.
- The market consists of four categories: network security, data security, identity and access security, and cloud security.
- Throughout the forecast period, the market is expected to be dominated by the network security segment, which will account for 35.5% of the market, followed by the data security, and identity and access security segments.
- In terms of geography, North America is projected to dominate the sector with a share of 54.0%, followed by Asia-Pacific and Europe.
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
- Identify the major channels that are driving the global military cyber security market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- 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