The global cyber weapons market is anticipated to witness significant growth over the forecast period owing to rise in threats to critical infrastructures across vital sectors including corporate IT and government. Rise in defense expenses coupled with the continuous evolution of cyber weapons as a warfare tool is also expected to drive market growth. Military, paramilitary, and intelligence agencies penetrate through enemy’s network with the usage of cyber weapon, essentially a malware or virus. Growing demand for violating the privacy of the target and securing the sovereignty of the host nation is expected to drive the global market substantially over the forecast period. Offensive usage of cyber weapons by cybercriminals and defensive usage by law enforcement officials further contributes to market demand.
The necessity of systems surveillance, theft & destruction of target’s data, hardware, intellectual property, and crucial processes of manufacturing & business activities are expected to drive the cyber weapon market extensively. Surge in demand to prevent financial losses by the opponent significantly contributes to market demand. The market is anticipated to witness significant growth over the forecast period owing to demand across various application sectors such as government organizations, military, public utilities, financial systems, communication networks, and essential services (banking and insurance). Huge confidential data in these segments are highly vulnerable to unforeseen damages by rouge digital mass shooters paired with deranged & outraged hackers, which is further expected to drive the cyber weapons market significantly.
Rise in number of cyber issues acts as a national concern. This may further upsurge demand for cyber weapons (offensive and defensive) to ensure security and military planning. Increasing internet usage in varied applications increases cybercrime and allied issues, which further results in growing demand for cyber weapons worldwide. Cyberweapons help detect, monitor, report, and counter-attack cyber threats in order to maintain the confidentiality of IT systems. Owing to the aforementioned purposes, the cyber weapons market is anticipated to grow significantly over the forecast period.
Major challenges to the global cyber weapons market include preventing weapons development and usage as it leads to mass destruction and creates disharmony worldwide if used offensively. Further, cyber weapons usage increases cyber warfare and anonymity between hackers, which may negatively impact market growth.
Surging demand for offensive and defensive cyber weapons by NATO nations, especially the U.S. to defend their interest in cyberspace may considerably drive the cyber weapon market. Additionally, non-NATO nations are anticipated to invest in internet warfare capabilities, which will further drive the cyberweapons demand. Furthermore, North America is estimated to account for a significant share in the global cyber weapon market closely followed by Asia Pacific owing to its increased usage in aerospace, defense, and intelligence units.
Key players in the global cyber weapons market include BAE Systems, EADS, General Dynamics, Mandiant, Symantec Corporation, Northrop Grumman Corporation, AVG Technologies, Avast Software, Boeing, Kaspersky Lab, Cisco Systems, and McAfee.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.