The global defense cyber security market is expected to witness significant growth over the forecast period. The present cyber security industry comprises a varied number of solutions including endpoint security to network security, content security, application security, wireless security, and cloud security solutions. All these solutions can be incorporated together to form a tough defense mechanism against complicated threats. Complexities of cyberattacks such as viruses and worms to techniques such as Dynamic Trojan Horse Network (DTHN) Internet worm, stealth bot, and the zero-day attack led the cyber security companies to design improved security solutions and software such as SIM software solutions (Security of Information Management), NFA (network flow analysis), IBUTMS (Integrating Basic Unified Threat Management systems), NGFW (Next-Generation Firewalls) and SIEM security systems (Security Information and Event Management).
An increasing number of cyber threats and the beginning of solutions exactly to defense and safety are projected to drive the market over the forecast period. The explosion of cyber threats over the past few years has made many companies and governments acutely aware of the risks opened to them through underground protection networks or from individual inattention. defense enterprises function at the tip of the cyber spear, which attracts attacks from advanced threats that are being run by criminals and terrorist groups. Cyber threats are more persistent, smarter, and more focused on high-value assets, which are projected to drive the market over the forecast period. The growing risk of the cyber threat to critical infrastructures by structured criminal groups followed by technological improvement in the cyber security industry is the major driver for this market. Expansion in spending on services programs for R&D of cyber safety solutions for the battle-ground communication systems is also expected to fuel the growth of this market over the forecast period.
The defense market has changed dynamically over the past few years. Development in the area of information technology, upgradation of active weapons by intelligence, coupled with reconnaissance & surveillance systems and growing volume of confidential data gathered systems has made it essential to use reliable and enhanced cyber security software programs.
By geographical region, the defense cyber security market can be segregated into Asia Pacific, North America, Europe, and the Rest of the World. The Asia Pacific was expected to be the fastest developing market over the forecast period owing to increasing spending done by the government to improve their security from national threats in countries like India and China. North America is projected to capture the largest share of revenue over the forecast period due to increasing investment done by the many privately-owned companies headquartered in the U.S.A. North America is followed by Europe.
The enterprises which are in the defense cyber security industry can be sliced into defense companies and security vendors. Security vendors comprise companies busy manufacturing, delivering and designing information security programs, solutions, and services that they offer to the government and defense organizations. Dell Secure Works Inc., IBM Corporation, Intel Security Group, Symantec Corporation, Cisco Systems Inc., and Verizon Communications Inc., are some of the major security vendors in the defense cyber security market. General Dynamics Corporation, Lockheed Martin Corporation, Raytheon Company, Finmeccanica S.p.A, Northrop Grumman Corporation, BAE Systems Plc, and Thales Group are a few other leading defense enterprises involved in manufacturing such solutions.
The leading companies in this market are adopting strategies such as acquisitions and joint ventures to generate long-term profits and strengthen their product assortment. Recently, BAE Systems Plc acquired SilverSky in 2014 for USD 232 million. This development is expected to enhance the functional intelligence of the cyber security segment. Raytheon Company got into a joint venture with Vista Equity Partners and obtained an 80% share of the enterprise named Websense, which is a computer security software provider. This acquisition facilitated Raytheon Company to augment its intelligence, information & services segment and helped in gaining a strong foothold in the defense cyber security market.
One of the main trends supporting expansion within the defense cyber security market is the beginning of defense-specific security software. Some companies such as Lockheed Martin and BAE Systems have introduced cybersecurity software programs, which are specifically designed for the defense sector. The businesses in this market should design superior operating systems, virtual machine technologies, and cloud computing solutions that are aided with extremely reliable and breach-free software solutions with a direction to defend their cyberspace in opposition to cyber threats from non-state activist groups over the forecast period.
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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.