Press release
Military Cybersecurity Market is Expected to Reach $19.63 billion by 2028 at a CAGR of 8.2% within Forecast Period 2024-2033 | Key Players: Mitsubishi Corporation, Airbus SE, Raytheon Technologies Company, Lockheed Martin Corporation, International Busine
Military Cybersecurity Market Report
The Business Research Company offers in-depth market insights through Military Cybersecurity Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The military cybersecurity market size has grown strongly in recent years. It will grow from $13.28 billion in 2023 to $14.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing cyber threats, rise in state-sponsored cyber warfare, critical infrastructure protection, focus on information assurance, regulatory compliance requirements.
The military cybersecurity market size is expected to see strong growth in the next few years. It will grow to $19.63 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to cybersecurity skill shortages, heightened focus on supply chain security, proliferation of cyber threat vectors, national security imperatives, international collaboration on cybersecurity. Major trends in the forecast period include rapid technological advancements, AI and machine learning integration, integration of IoT and connected technologies, cloud security for military operations, zero trust security framework.
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Market Segmentation:
The military cybersecurity market covered in this report is segmented -
1) By Type: Defensive Cybersecurity, Offensive Cybersecurity
2) By Platform: Hardware, Service, Software
3) By Security Type: Network Security, Cyber Threat Intelligence, IT Infrastructure, Logistics And Operation Security, Training Services
4) By Solution: Threat Intelligence And Response Management, Identity And Access Management, Data Loss Prevention Management, Security And Vulnerability Management, Unified Threat Management, Enterprise Risk And Compliance, Managed Security, Other Solutions
5) By Application: Ground Force, Air Force, Marine Force
Major Driver - Rising Global Cybersecurity Threats Propel Growth In Military Cybersecurity Market
An increased number of cyberattacks is expected to propel the growth of the military cybersecurity market going forward. A cyberattack is an attempt to access a computer system or network to cause damage illegally. It can steal data, deliberately disable machines, or utilize a compromised computer as a launching pad for more attacks. The military must have secure information resources to ensure the integrity of its operations. Military cybersecurity prevents attacks on social networks and safeguards data, networks, net-centric capabilities, and other designated systems. For instance, in April 2023, according to Parachute Technology, a US-based IT solutions company, globally, cyberattacks on governments rose by 95% in the second half of 2022. The average overall cost of a data breach in the government's public sector increased by 7.25%, from $1.93 million in 2021 to $2.07 million in 2022. Therefore, an increasing number of cyberattacks is driving the growth of the military cybersecurity market.
Competitive Landscape:
Major companies operating in the military cybersecurity market report are Mitsubishi Corporation, Airbus SE, Raytheon Technologies Company, Lockheed Martin Corporation, International Business Machines Corporation, Cisco Systems Inc., Northrop Grumman Corporation, Broadcom Inc., BAE Systems plc, Thales Group, Leidos Holdings, Inc., General Dynamics Mission Systems Inc., Huntington Ingalls Industries, Inc., Booz Allen Hamilton Inc., Science Applications International Corporation, Rheinmetall AG, ST Engineering Ltd., Sopra Steria Group, Israel Aerospace Industries Ltd., ThyssenKrupp AG, Perspecta Inc., The Carlyle Group Inc. ManTech International Corporation, CACI International Inc., Check Point Software Technologies Ltd., Palantir Technologies Inc., QinetiQ Group plc, Hanwha Corporation, FireEye Inc., Salient CRGT, Netcentric Corporation
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Top Trend - Innovative Military Cybersecurity Initiatives With M-Kavach 2 App
Major companies operating in the military cybersecurity market are focused on developing innovative technology, such as mobile device security solution, to sustain their position in the market. A mobile device security solution is a set of tools and technologies designed to protect smartphones, tablets, and other portable devices from unauthorized access, malware, data breaches, and other security threats. For instance, in April 2022, the Centre for Development of Advanced Computing (C-DAC), an India-based premier R&D organization of the Ministry of Electronics and Information Technology, launched M-Kavach 2, an Android-based mobile device security solution that assists users in locating security and privacy misconfigurations in their devices and offers guidance on locking the device, encrypting data, configuring notification settings to prevent OTP leaks, and other related topics.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Military Cybersecurity Market Characteristics
3. Military Cybersecurity Market Trends And Strategies
4. Military Cybersecurity Market - Macro Economic Scenario
5. Military Cybersecurity Market Size And Growth
…..
27. Military Cybersecurity Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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