June 18, 2024
Defense Cyber Security Market
Ict

Defense Cyber Security Market Growth Accelerated by Rising Cyber Threats

Defense cyber security refers to cybersecurity solutions that help governments and militaries defend their digital infrastructure, information systems as well as confidential and sensitive data from cyber threats. With national security at stake, defense cyber security tools play a crucial role in surveillance, tracking and prevention of cyber-attacks. They offer malware detection, network security monitoring, firewalls, antivirus solutions and data encryption services. The growing frequency and sophistication of cyber-attacks have boosted the need for advanced defense cyber security systems globally.

The global Defense Cyber Security Market is estimated to be valued at US$ 21.62 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing incidence of cyber threats and data breaches across military and government networks is a key driver accelerating the growth of the defense cyber security market. According to recent cyber security reports, the numbers of cyber-attacks on national security networks rose by over 35% in the last five years. Advanced threats from nation-state actors as well as terrorist groups exploiting vulnerabilities have exacerbated the risks. To address this challenge, governments worldwide are significantly raising their cyber security budgets and aggressively deploying next-gen solutions like AI-driven tools, cloud-based platforms and biometrics. This growing prioritization of cyber defense is expected to boost the defense cyber security market substantially over the coming decade.

Segment Analysis
The global defense cyber security market is segmented by security type into network security, cloud security, wireless security, and others. The network security segment dominates the market currently. The growing connectivity of military systems and dependence on networks for command and control has increased vulnerabilities. Network security solutions ensure safety from threats like malware, DDoS attacks, and unauthorized access.

Key Takeaways

The Global Defense Cyber Security Market Share is expected to witness high growth over the forecast period driven by increasing reliance on digital technologies and rising cyber-attacks on critical infrastructure. The defense sector is moving towards network-centric warfare, necessitating stronger security safeguards.

Regional Analysis: North America is expected to remain the largest and fastest growing regional market for defense cyber security during the forecast period. The presence of major military powers like the U.S. and increasing investments to safeguard critical infrastructure from cyber-attacks will drive the demand.

Key players operating in the defense cyber security market are Henan Lingrui Pharmaceutical Ltd, Purdue Pharma Manufacturing LP, Luye Pharma Group, 3M Company, Mylan (Viatris), Teva Pharmaceutical Industries Ltd, Samyang Biopharmaceuticals Corp. (Samyang Holdings), Novartis, and Teikoku Pharma USA Inc. (Teikoku Seiyaku Co. Ltd). Increased focus on advanced technologies like AI, cloud computing will see partnerships and M&A activities among key market stakeholders.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it