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Military Cybersecurity Market Size, Deep Analysis, Growth Statistics, Share, Trends And Forecast To 2033
Military Cybersecurity Market
Military Cybersecurity Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $19.63 billion In 2028 At A CAGR Of 8.2% :
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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Military Cybersecurity Market Major Segments
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
Key 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.
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Prominent Trend - Innovative Advancements With Systemx Enterprise Cybersecurity Software For Military Applications
Major companies operating in the military cybersecurity market are focused on developing innovative products to sustain their position in the market. For instance, in July 2022, CCX Technologies, a Canada-based manufacturer of a range of products for aerospace OEMs, aircraft maintainers, and military contractors, launched SystemX enterprise cybersecurity software. SystemX Enterprise is the first cyber security solution built for direct interaction with aviation, aerospace, and defense systems to protect their onboard networks from cyber threats. The package includes comprehensive, customizable cyber defense and security software tools, maintenance, and expert integration assistance. SystemX Enterprise is exceptionally versatile and can suit various requirements, especially for diverse automobile platforms.
Military Cybersecurity Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the military cybersecurity market in 2023. It is expected to be the fastest-growing region in the global military cybersecurity market size forecast period. The regions covered in the military cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Military Cybersecurity Market Report Structure
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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