Worldwide Cyber Weapon Market to Expand at 4.4% CAGR, Need to Safeguard Critical Information Propels Market

In a recent market study published by Transparency Market Research, the global cyber weapon market is expected to expand at a CAGR of 4.4% from 2015 to 2021. At this growth rate, the market is projected to reach a valuation of US$521.87 bn by 2021 increasing from US$390.0 bn in 2014. The report is titled “Cyber Weapon Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021” and is available for sale on the company’s website.

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Cyberspace has emerged as the new sphere for warfare in present times. Any IT-based system connected to the Internet faces the threat of a cyber-attack. A cyber weapon, which is also referred to as a malicious program or code, is an advanced IT-based system that consists of hardware, software, and a communication medium. These systems are designed to damage structures and operations of other IT-based systems. These programs are used by intelligence departments of countries and military personnel to violate the confidentiality of target systems.

Increasing security concerns about critical infrastructures such as national defense systems, industrial control systems, and communication networks is mainly fuelling the growth of the cyber weapon market. Moreover, the emergence of cyberspace as the new sphere for warfare after land, water, air, and space is augmenting the development of cyber weapons and hi-tech cyber warfare instruments.

However, government regulations in place to control the usage of cyber weapons are restraining the market’s growth.

The report says that the global cyber weapon market will expand over the forecast period. This is mainly due to the increasing threats of cyber-attacks, which is necessitating the development of cyber weapons for defense. Furthermore, government organizations and intelligence agencies are also focused on developing offensive cyber warfare capabilities to counter cyber-attacks. This is favoring the growth of the offensive type segment of the cyber weapon market.

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Defensive cyber weapons contributed a substantial revenue share of US$287.98 bn in 2015 to the global market; the segment is expected to retain its lead during the forecast period. The growth of this segment is attributed to the increasing investments by governments for added security of national defense networks. In addition, the need to attain defensive capabilities in critical complexes such as military defense, industrial control systems, aerospace, automated transportation systems, and banking and financial will drive the growth of defensive cyber weapon market until the end of the forecast period.

Moreover, the need to develop resilient systems that can withstand cyber-attacks and the interest shown by traditional arms manufacturing companies to venture into the cyber security space is propelling the defensive cyber weapon market.

Application-wise, national defense system dominated the cyber weapon market in 2015. The increasing importance given by the national defense departments of the U.S. and China to the development of cyber capabilities is driving this application segment of the market.

The report mentions and profiles top players in the global cyber weapon industry. These include Lockheed Martin Corporation, BAE Systems plc, General Dynamics Corporation, Airbus Group SE, The Boeing Company, Raytheon Company, and Northrop Grumman Corporation among others. These companies have been profiled on the basis of their financial overview, recent developments, company overview, and business strategies in the cyber weapon industry field.

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This release was published on openPR.