The Defense Cyber Security Market is expected to register a CAGR of 10.03%, during the forecast period 2018-2023.
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The defense industry has witnessed a dynamic change over the past decade. The growing advancements in information technology, upgradation of existing weapons with intelligence, surveillance, and increasing volume of classified data gathered from various systems have demanded the use of reliable and enhanced cyber security solutions for the defense industry.
Further, with the increasing dependency of military organizations on the internet network, the frequency and sophistication of cyber attacks are on the rise.
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To counter all these vulnerabilities, there is a major focus on adopting cyber security solutions in the defense sector.
Trends Driving the Cyber Security Market in Defense
To keep pace with the modern defense advancements countries have developed new technologies, such as unmanned vehicles, hypersonic weapon among others. These advancements are highly dependent on the data and connectivity, making them susceptible to breaches and attacks.
Thus, there is a growing necessity for the countries to focus on developing counter measures to safeguard critical information. The growth of the global arms and defense trade has also increased theft of intellectual property by other defense contractors to reduce their own research and development costs and further produce and sell new products at lower prices, to give them a competitive advantage in this market space.
These situations have driven defense contractors to identify critical technologies and seek out vulnerabilities in these platforms.
Though the defense budgets in North America and parts of West Europe are declining, the cybersecurity market for the defense industry is expected to grow at a significant pace during the forecast period. This growth is driven by the investments in cloud network solutions for the battlefield management, data protection, and wireless security solutions along with development of network security & cloud security software.
For instance, United States aimed to increase its National Nuclear Security by 3.3% accounting to 12.94 billion, to address the vulnerabilities of the countries defense capabilities. The market in Middle East particularly, Saudi Arabia, Qatar, and UAE are expected to witness the fastest growth, owing to the growing number of attacks on government network portals in Saudi Arabia and UAE in the past years have created the demand for the deployment of Unified Threat Management (UTM) cyber security solutions, cyber-attack alarms, and cyber intrusion prevention technology.
The major players include in Defense Cyber Security Market –
CISCO SYSTEMS INC.
INTEL SECURITY GROUP
DELL SECUREWORKS INC.
VERIZON COMMUNICATIONS INC.
FORTINET TECHNOLOGIES INC.
CHECK POINT SOFTWARE TECHNOLOGIES LTD
Key Developments in the Defense Cyber Security Market :
November 2017 - IBM acquired Agile 3 Solutions, a San Francisco-based company developed software used by the C-Suite and senior executives to better visualize, understand, and manage risks associated with the protection of sensitive data. The acquisition is aimed at complementing the company’s security solutions across the cloud and IoT platforms
August 2017 - Cisco acquired Observable Networks, the acquisition was aimed at diversifying Cisco’s security portfolio to the cloud security capabilities and provide security support and compliance for applications deployed on public cloud platforms such as Amazon Web Services (AMZN) and Microsoft (MSFT) Azure
March 2017- NEC Corporation provided government agencies in Malaysia with hands-on cyber-defense training. The hands-on cyber defense training organized by NEC Corporation and NEC Corporation Malaysia was aimed at enhancing the abilities of system administrators in government agencies to effectively handle the increasing threat of cyber-attacks.
Reasons to Access Defense Cyber Security Market Report :
The growing number of Cyber Attacks in defense sector has been identified as a major driver in the global market scenario
The report analyzes the various perspectives of the market with the help of Porter’s five forces analysis
The type of security and solution that are expected to dominate the market
The regions are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Defense Cyber Security Market Report:
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