Cyber Weapons Market : Defensive, Offensive By Type Industry Forecast, 2021-2031

The global cyber weapons market size was valued at $9.2 billion in 2021, and is projected to reach $23.7 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031.

Cyber Weapons Market by Type (Defensive, Offensive), by Application (National Defense System, Public Utility, Automated Transportation system, Smart Power Grid, Industrial Control System, Financial System, Communication Network, Others), by End User (Government, BFSI, Corporate, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031.

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On the basis of application, the global cyber weapons market is segmented into national defense systems, public utility, automated transportation systems, smart power grid, industrial control systems, financial systems, communication networks, and others. The development of international trade and the improvement of living standards have been facilitated by transportation infrastructure. Communities all over the world are connecting more than ever because of huge advancements in the flow of people and things. Yet, the presence of various control systems and auxiliary systems is increasing the interconnection and complexity of transportation networks.

The use of communications and IT has increased the effectiveness and functionality of transportation networks, but it has also raised the possibility of vulnerabilities. Attacks using cyber weapons on transportation networks can take a variety of shapes and have a range of possibilities and outcomes. A popular attack method that overburdens the system and causes a denial-of-service (DoS) for the entire system is traffic redirection to the server. A different type of cyber weapon effect is the theft of personal information, which can result in the displacement of expensive and/or dangerous commodities like explosives, radioactive agents, chemical, and biological chemicals, which is problematic for the transportation industry. Terrorists might utilise these materials, if they were stolen, to make bombs and other deadly weapons. Automated transportation systems that integrate cyber weapons are used to prevent or respond to such incidents, which supports the market's growth.

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COVID-19 Impact Analysis :

Furthermore, cybersecurity needs to get greater attention, due to regulatory restrictions brought on by the coronavirus and the increased cyber danger faced by remote workers. For instance, the fact that 47% of people who work from home have fallen victim to phishing shows this. The coronavirus pandemic is seen by cybercriminals as an opportunity to ramp up their criminal activity by preying on remote workers and the public's intense interest in coronavirus news, such as fraudulent fake coronavirus-related websites.

KEY FINDINGS OF THE STUDY :

By type, the offensive segment is anticipated to exhibit significant growth in the near future.

By application, the communication network segment is anticipated to exhibit significant growth in the near future.

By end user, the corporate segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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Key players operating in the global cyber weapons market include BAE Systems, Booz Allen Hamilton Inc., Broadcom, Cisco Systems, FireEye Inc., General Dynamics Corporation, Kasperksky Lab, Lockheed Martin Corporation, Mandiant, and Raytheon Technologies Corporation.

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