Global Defense Cybersecurity Market Expected to Grow from USD 36.9 Billion in 2023 to USD 49.4 Billion by 2028, with a CAGR of 6%: U.S. Anticipated to Hold the Highest Market Share

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Jan 19, 2024, 22:00 ET

DUBLIN, Jan. 19, 2024 /PRNewswire/ -- The "Global Defense Cybersecurity Market by Offering (Hardware, Software, Services), Security (Network Security, Endpoint Security, Application Security, Cloud Security), End User (Army, Navy, Air Force), Application and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global Defense Cybersecurity market is expected to grow from USD 36.9 billion in 2023 to USD 49.4 billion by 2028, with a CAGR of 6%. This growth is attributed to the integration of advanced technologies like AI, ML, quantum-resistant cryptography, edge computing, and IoT. These innovations aim to enhance military capabilities and fortify defense against evolving cyber threats.

The market is segmented into security types, with Application Security projected to have the second-largest market share due to the critical role of software applications in military operations. Hardware is identified as the fastest-growing offering type, addressing challenges from quantum computing threats through quantum-resistant cryptographic hardware.

The army segment is expected to experience the highest growth rate among end users, as armies face elevated risks of cyber attacks seeking to disrupt command and control systems and compromise classified information. The U.S. is anticipated to hold the highest market share, driven by technological leadership, significant defense budget, and extensive international alliances.

Prominent companies in the defense cybersecurity market include Booz Allen Hamilton Inc., General Dynamics Corporation, Cisco Systems, Inc., Microsoft, and Leidos. The report provides comprehensive coverage of market segments, competitive analysis, key player profiles, and insights into market drivers, restraints, opportunities, and challenges. It aims to assist market leaders and new entrants in understanding the market dynamics, and competitive landscape, and formulating effective go-to-market strategies.

Premium Insights

Rise in Investments and Technological Advancements to Drive Growth
Network Security to Surpass Other Segments During Forecast Period
Software and Service Segment to Secure Leading Market Position During Forecast Period
Navy to Dominate Market During Forecast Period
India to be Fastest-Growing Market During Forecast Period

Case Studies

Data Protection and Encryption
Insider Threat Mitigation
Porter's Five Forces Analysis

Market Overview

Drivers

Expanding Cyberattacks Across Various Defense Industries
Integration of Advanced Digital Technologies
Rapid Deployment of Information Technology
Growing Defense Spending on Modernization of Cybersecurity Solutions

Restraints

Inefficiency of Legacy Systems in Modern Cybersecurity Landscape
Increase in Regulatory Compliances
Opportunities
Rise in International Collaborations

Challenges

Shortage of Skilled Personnel
Interoperability Issues Within Existing Defense Systems
Trends and Disruptions Impacting Customers' Businesses

Technological Analysis

Zero Trust Architecture
Deception Technologies

Industry Trends

Introduction
Technological Trends
Artificial Intelligence and Machine Learning
5G
Cloud Technology
Devsecops
Impact of Megatrends
Supply Chain Analysis
Patent Analysis

Company Profiles

Key Players

Booz Allen Hamilton Inc.
General Dynamics Corporation
Cisco Systems, Inc.
Microsoft
Leidos
IBM
Thales
Lockheed Martin Corporation
Northrop Grumman
Raytheon Technologies
L3Harris Technologies, Inc.
Leonardo S.P.A.
Caci International Inc
Elbit Systems Ltd.
Bae Systems
Saic
Asgn Incorporated

Other Players

Echelon Services
Five Stones Research Corporation
Rite-Solutions, Inc.
Sealing Technologies
Axellio
Hub Security
Countercraft

For more information about this report visit https://www.researchandmarkets.com/r/k494dv

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