Defence Cyber Security Market

Defence Cyber Security Market Size

Defence Cyber Security Market size was USD 18.83 billion in 2021 and projected to grow from USD 22.8 billion in 2023 to USD 54.7 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period.

Cyber defence denotes the capability of avoiding cyber-attacks through a computer system. The purpose of cyber defence technique is to disrupt, prohibit and respond to cyber threats. Cybersecurity solutions aid in organisation monitoring, reporting, detecting, and resisting cyber threats in defence related to internet to damage information systems and hack important data using malware, phishing. The cyber security market involves solutions from endpoint security to network security, application security, content security, and cloud security. 

Market Highlights

Defence Cyber Security Market is expected to project a CAGR of 10.2% during the forecast period, 2022-2032

Defence Cyber Security Market is expected to reach USD 54.7 billion, growing at a CAGR of 10.2% during forecast period owing to the growing frequency of cyberattacks like malware, ransomware, advanced persistent threats which are boosting the demand for defence cyber security solutions. Cyber threats are an increasing concern that have the capability to damage by gaining unauthorized access to networks, computer systems etc., which is anticipated to drive the market growth.

Defence Cyber Security Market Segmentation:

Endpoint Security Solutions segment is expected to grow with high CAGR during the forecast period

Defence Cyber Security Market is classified based on the Type into Endpoint Security Solutions, Network Security Solutions, Content Security Solutions. Endpoint security segment dominated the market in 2021 and is expected to maintain its dominance in the forecast period owing to the increasing use of automation and behavioural analysis for threat detection which are observed to be required asset of the defence. The increasing investments in the defence sector is also expected to boost market growth.

Cloud segment is expected to grow with high CAGR during the forecast period

Defence Cyber Security Market is classified based on the Deployment Type into On-Premise and Cloud. Cloud segment dominated the market in 2021 and is expected to maintain its dominance in the forecast period owing to the operation of cloud system on remote servers over internet. Cloud services are generally available as security as a service models with usually annual or monthly charges which cover the supervision, monitoring of network servers, storage for all data recovery, system optimization, etc.

Market Dynamics:   

Growth Drivers

Increasing Defence Expenditure is Expected to Boost the Growth of the Market

The expenses of defence IT is increasing and the growth of IT software, hardware has resulted in initiation of many alterations in the defence field, like superiority in space & air, live combat surveillance, force multipliers-related software and smart weapons and battlefield management. The implementation of IT solutions in this field has created significant change in defence operations thereby, boosting the growth of the market.

Growing Demand for Defence IT is Expected to Boost the Growth of the Market

The demand for defence expenditure, changing regular military aircraft into independent aircraft, incorporating artificial intelligence in aircraft applications and spiking demand for IT in defence are boosting the growth of the defence cyber security market. of the defence cyber security market. The growing threats associated to cyber-attack on officials and increasing internet of things related to cyber security technology is expected to boost the growth of the market. The advancements of aircraft to secure from cyberattack by maintaining efficient operation by military may boost the market growth.

Restraint

Lack of Awareness on Cybersecurity May Restrain the Growth of the Market

The lack of awareness regarding cyber security and unavailability of cyber security professionals may hamper the market. growth Government is the prime defence workforce to act upon any criminals and the rapid advancements by the usage of internet created easy opportunities for the opponents to attack government officials with email phishing scams, malware which may result in confidential data leakage which may hamper the market growth.

Recent Developments:

• In November 2020, General Dynamics was awarded the agreement of Defence enterprise office solution by the general service administration in accordance with department of Defence and the agency of the Defence information system agency.
• In September 2020, Northrop Grumman Corporation was granted a task by the Defence Intelligence Agency and US’s Federal Systems Integration and Management center to aid the organization deliver intelligence with rapid and improved decision superiority.

Key Players Covered:

• Amazon, Inc.
• IBM Corporation
• Oracle Corporation
• Microsoft Corporation
• Accenture
• DXC Technology Company
• General Dynamics Corporation
• SAP SE
• Leidos Holding Inc.
• BAE Systems PLC
• AT&T Intellectual Property
• Fujitsu Limited
• Unisys Corporation
• Northrop Grumman Corporation
• Forescout
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Defence Cyber Security Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021. Asia-Pacific is expected to dominate the market during the forecast period owing to the increasing terrorist activity resulting in rising investment in defence cyber security by governments and private bodies. The growing cyber threats in the countries of this region is expected to boost the growth of the market.

Impact of Covid-19 on Defence Cyber Security Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. There is an irregular import and export of hardware due to the pandemic. The advancements of military communication systems were delayed and strengthening of cybersecurity was halted in the pandemic period. Covid-19 had a negative impact on the growth of the Defence Cyber Security Market.

Defence Cyber Security Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Defence Cyber Security Market Scope and Segments:

Frequently Asked Questions (FAQ):