Defense Cyber Security Market is anticipated to grow at a high CAGR from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Defense Cyber Security Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Defense Cyber Security Market is anticipated to grow at a high CAGR from 2020 to 2030.
The growth of the Defense Cyber Security Market can be attributed to an increasing focus on the IP of enterprises and securing remote infrastructure due to work-from-home and remote services programs. The rising focus on defense cybersecurity as a major business essential and not just as a support function is expected to drive the market for security policies and infrastructure. The implementation of cybersecurity solutions is projected to witness growth with increasing penetration of the internet in developed as well as developing nations. The need for security solutions from the aerospace & defense sector has been remarkably high.
With growing data breaches in the defense industry, the U.S. is prioritizing its military & defense sector and is actively investing in the research & development of new weaponry systems. For instance, in October 2018, the U.S. Government Accountability Office (GAO) published a report declaring that most weapon systems that are being upgraded were found to have mission-critical cyber vulnerabilities. Later that month, the U.S. government signed a law to establish the Cybersecurity and Infrastructure Security Agency (CISA). This will enhance defense against cyber-attacks throughout the country.
The U.S. Aerospace Industries Association is highly focused on promoting policies that strengthen the aerospace & defense sector. The defense companies, including BAE Systems PLC, General Dynamics Corporation, and Finmeccanica SpA, are engaged in developing cybersecurity solutions for the defense industry, especially software & network security solutions. The need for preventing cyber-attacks on the military software systems will boost the demand for these solutions in the aerospace & defense sector.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, 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. in detail along with the table of contents:https://www.marketindustryreports.com/defense-cyber-security-market/396
North America is expected to maintain the largest market share in the defense cyber security market and the Asia Pacific region is anticipated to have the highest CAGR over the projected timeframe. The growth can be attributed to the strong presence of several market incumbents, coupled with recent security threats in the region that are projected to drive the acceptance of these solutions. Moreover, South Korea is becoming the prime target for cyber-attacks, due to the increasing number of connected devices in the country, significant intellectual property, and the utilization of advanced mobile devices. For instance, in January 2019, according to the National Police Agency report, the global cybercrimes in commercial as well as defense sectors increased by approximately 14% in South Korea during 2018 to reach about 150,000 cases. This increasing cybercrime will drive the defense cyber security market in this country over the coming years.
Some of the prominent players in the defense cyber security market include Northrop Grumman Corporation, IBM Corporation, Cisco Systems Inc., Intel Corporation, Thales Group, DXC Technology Company, The Boeing Company, BAE Systems plc, SecureWorks Corporation, Lockheed Martin Corporation, and Raytheon Company.
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