Defense Cyber Security Market By Solution (Identity & Access Management, Data Loss Prevention Management, Security & Vulnerability Management, and Unified Threat Management), By Deployment Mode (On-premises and Cloud), By Component (Products, Solutions, and Services) – Global Analysis & Forecast 2020-2030.
Report ID : 396 | Published Date : Sep 2020 | Pages : 150 | Region : Global | Report Code : AD-5
Defense Cyber Security Market Overview and Introduction
The cyber security market in the defense domain is anticipated to perceive substantial growth over the study timeframe. The cyber security sector during this period will encompass a wide range of solutions including network security, endpoint security, application security, content security, cloud security, and wireless security solutions. These solutions can be integrated to form a superior defense mechanism against complex threats. The focus of governments on the enhancement of cyber security to counter cyber terrorism and the increasing adoption of machine-to-machine technologies in the aerospace domain are expected to foresee growth over the study timeframe.
Developments in the upgrading of active weapons by intelligence in the field of information technology, advancements in reconnaissance & surveillance systems, and growing confidential data gathered systems have made it crucial to utilize an enhanced & reliable cyber security software programs. Cyber threats are smarter, more persistent, and actively focused on high-value assets that will boost the industry size over the coming years. The rising risks of cyber threats to critical organizations from designated criminal groups followed by technological advancements in the cyber security market is a major growth driver. There is a growing necessity in several countries to focus on developing countermeasures that will help to safeguard critical information. The growth of defense trade has also led to the theft of intellectual property by other defense contractors to reduce their own research & development costs. These situations have driven defense contractors to identify critical technologies and seek out vulnerabilities in their platforms.
The invention of advanced solutions to address an exponential rise in the number of cyber threats is also predicted to boost the market share over the coming years. The explosion of cyber threats in the defense domain over the historic years has made governments and industry participants extremely aware of the risks from underground protection networks. These underground protection facilities help to protect critical infrastructures against terrorist threats. For instance, according to the Center for Strategic and International Studies (CSIS), in October 2018, The Centers for Medicare and Medicaid Services (CMS) announced that hackers gained unauthorized access to the personal data of 75,000 people through a government computer system. Moreover, as per NITI Aayog in 2017, growing cybercrimes are expected to cost around USD 6 trillion annually by 2021.
The defense cyber security market can be segmented into the following categories – By Solution, By Deployment Mode, By Component, and By Region
Defense Cyber Security Market By Solution
Based on the solution, the market can be segmented into identity & access management, data loss prevention management, security & vulnerability management, unified threat management, and others. The others include enterprise risk & compliance and managed security. The security & vulnerability management segment is anticipated to account for the largest market share and data loss prevention management is expected to grow at the highest CAGR during the forecasted timeframe. The largest share of the security & vulnerability management segment is owing to cyber threats and cybercrimes growing at a quicker rate. Organizations are turning to security & vulnerability management to enhance security operations. This further ensures that risk management & threat intelligence is being implemented in the organization. Moreover, the largest segment share is also due to rising mandates for adhering to regulatory compliances and growing cyber awareness across developing economies in several verticals.
Defense Cyber Security Market By Deployment Mode
Based on the deployment mode, the market can be segmented into the cloud and on-premises. The cloud deployment segment is anticipated to account for the largest market share and will grow at the highest CAGR over the projected timeframe. Data loss prevention, robust cloud storage facilities, and the utilization of reliable & enhanced security solutions are some of the factors that will result in the increased adoption of cloud-based delivery models for cyber security in the defense sector.
Defense Cyber Security Market By Component
Based on component, the market can be segmented into the products, solutions, and services. The solution segment is anticipated to account for the largest market share and the service segment is projected to have the highest CAGR over the projected timeframe. The defense industry has witnessed a dynamic change over the past decade. The increasing upgrading of current weapons with intelligence, surveillance, technical advancements in information technology, and the rising volume of confidential data collected from several systems have demanded the utilization of reliable & enhanced cyber security solutions for the defense industry. Further, with the rising dependence of military agencies on the internet, the sophistication and frequency of cyberattacks are on a surge. To tackle all these security vulnerabilities, there is a chief emphasis on adopting advanced solutions in the defense cyber security sector.
Defense Cyber Security Market By Region
The regional analysis can be classified into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is expected to capture the largest revenue share of the market over the coming years due to rising active investments done by several privately owned industry players that are primarily located in the U.S. The Asia Pacific region is expected to grow at the highest CAGR over the coming years due to increased defense spending done by the government to enhance their security against various threats in developing countries including China and India.
Defense Cyber Security Market Prominent Players
Some of the key players operating in the defense cyber security market include Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems Plc, Thales Group, Raytheon Company, and Finmeccanica S.p.A. The key players in the market are adopting strategies, such as joint ventures and acquisitions, to strengthen their product assortment and generate long-term profits. For instance, BAE Systems Plc acquired SilverSky in 2014 for USD 232 million. This acquisition is anticipated to develop the functional intelligence for the defense cyber security segment.