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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

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

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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Originally published at https://www.prnewswire.com/news-releases/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-us-anticipated-to-hold-the-highest-market-share-302039610.html
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