Global Military Cybersecurity Market is projected to reach at a market value of US$ 43,675.2 million by 2031: Visiongain Research Inc
Visiongain has published a new report on Global Military Cyber Security Market Report Forecast 2021-2031. Forecasts by Type (Network Security, Application Security, Data Security, Identity & Access, Cloud Security, Wireless Security and End-Point Security), PLUS, Profiles of Leading Military Cybersecurity Companies and Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios.
Global Military Cybersecurity market was valued at US$ 25,692.4 million in 2021 and is projected to reach at a market value of US$ 43,675.2 million by 2031, growing at a CAGR of 5.4% during 2021-2031. Some of the major factors fueling the growth of global market includes rising investment in R&D activities, capitalization on emerging technologies such as and artificial intelligence, IoT and combat technologies.
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COVID-19 Impact on Global Military Cyber Security Market
The global military cybersecurity market is highly impacted by COVID-19. The COVID-19 has both, positive and negative impacts on the market. The market has a neutral impact due to limited infrastructure at the beginning of the lockdown phase however, in the late phase the demand for military cybersecurity solutions increased owing to the rise in cyber spam caused by hackers across the globe. During the COVID-19 outbreak, public authorities across different countries invested huge amounts in transforming the military infrastructure. In addition, the military authorities signed a memorandum of understanding with the combat machine manufacturers to guard the intrusion from enemy countries. During this period, the military cybersecurity sales surged owing to rising mergers and acquisitions, R&D activities, collaborations, and other business strategies
Rising deployment of cloud-based cybersecurity infrastructure
The military units are deployed with cloud computing for extensive storage, real-time analysis, and remote monitoring. The market players are collaborating with the government authorities to offer advanced military cyber security solutions. For instance, in October 2019, Microsoft Azure offered military cloud computing, to provide a competitive edge during combat. JEDI (Joint Enterprise Defense Infrastructure) program provided modern and enterprise-level cloud services to the Department of Defense. The integration of the solution aims to aid technical assistance to the soldiers and will provide the analyzed report to the fighters during battle. This agreement facilitates cyber security, cloud computing, and trusted computing services to the air force, U.S. Army, Marine Corps, Navy, and the defense intelligence community. Moreover, a few of the developing countries such as India, Australia is investing in the intelligence cloud infrastructure to strengthen their military power driving the demand for military cyber security solutions.
Increasing deployment of futuristic war machines
Countries such as the U.S., Russia, and Japan are capitalizing in the development of futuristic war machines to dominate the defense sector and enhance their military power. The introduction of unmanned aerial vehicles, defense robots, military robots, and connected cars is creating new possibilities for the market players. These machines require advanced security solutions to prevent data theft, unidentified access, or get access to the artillery controls. Moreover, the growing deployment of connected vehicles for military transportation is driving the demand for military cyber security solutions.
Introduction of artificial intelligence based military cyber security solutions
The industry players have introduced artificial intelligence integrated military cyber security that will track unauthorized access, spams messages and emails, links, etc. The solution providers are offering surveillance and monitoring solutions to guard the patents, records, and confidential data. In addition, the market players have programmed the solution to segregate the malicious activities from the main workflow or infrastructure. These solutions are also designed to find the bug inserted in the program to get the data without informing the user. These AI-equipped solutions eliminate the malicious bugs and permanently block the re-intrusion in the system. Moreover, the government authorities have hired smart brains to handle the cybersecurity infrastructure and minimize the attacks and stops confidential data from being compromised.
The global Military cyber security market is fragmented with several global and local players. Some of the companies profiled in the report include BAE Systems Plc, General Dynamics Corporation, Raytheon Intelligence & Space, Northrop Grumman Corporation, Airbus Cybersecurity, Leonardo S.p. A., NetCentrics Corporation, Fujitsu Limited, CyberArk Software Ltd, Booz Allen Hamilton, Thales Group, Lockheed Martin Corporation, Cisco Systems Inc, CACI International Inc, and Atos SE.
The companies are focused on business strategies such as partnership with government authorities, product launches, R&D initiatives, and geographical expansion to gain competitive edge in global market. Some of the instances are stated below.
In April, 2021 CACI International Inc has been awarded a $447 million contract by National Security Agency. The company will provide process and mission technology in support of the signals intelligence and cyber security missions that provide US policymakers and the military with actionable intelligence to secure and defend vital networks.
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