The global defense cyber security market is set to gain momentum from the increasing usage of the Internet of Things (IoT) to transmit and collect data on situational metrics, such as status, location, usage, and temperature. In March 2020, for instance, Northrop Grumman Corporation bagged a new contract worth USD 982 million from the U.S. Army to deliver premium cyber and electronic warfare capabilities to warfighters. Fortune Business Insights™ presented this information in a new report, titled, “Defense Cybersecurity Market, 2021-2028.” The report further states that the defense cybersecurity market size is projected to grow from USD 19.96 billion in 2020 to USD 29.81 billion in 2028 at a CAGR of 5.36% during the forecast period.

Russia-Ukraine War Implication

The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.

Request PDF Sample Report-

https://www.fortunebusinessinsights.com/enquiry/sample/defense-cyber-security-market-105139

A list of renowned defense cybersecurity providers operating in the global market:

  • Leidos Holding Inc.
  • Accenture
  • IBM Corporation
  • General Dynamics Corporation
  • BAE Systems PLC
  • DXC Technology Company
  • Dell Inc.
  • Northrop Grumman Corporation
  • Unisys Corporation
  • Atos SE
  • Capgemini SE
  • Fujitsu Limited
  • Oracle Corporation
  • SAP SE
  • Microsoft Corporation
  • Amazon, Inc.
  • AT&T Intellectual Property
  • CACI International Inc.
  • Atkins
  • Safran SA

Segments-

Hardware Segment to Grow Steadily Fueled by Rising Modernization Programs

Based on the platform, the market for defense cybersecurity is trifurcated into service, hardware, and software. Out of these, the hardware segment earned 43.47% in terms of the defense cybersecurity market share in 2020. This growth is attributable to the increasing programs to modernize the defense IT infrastructure in countries, such as India, China, and the U.S. Lastly, by the security type, it is classified into network security, cyber threat intelligence, IT infrastructure, logistics and operations security, and training services.

Report Coverage-

The report of the market for defense cybersecurity provides intelligent insights on new product developments, R&D activities, and future technologies. At the same time, it delivers elaborate information about recent investments, developments, and untapped geographies. Besides, our analysts have conducted an assessment of manufacturing capabilities, strategies, and shares of prominent organizations.

COVID-19 Pandemic: Cancellation of Established Contracts May Hamper Growth

The COVID-19 pandemic has created disruptions in import and export of services and hardware. It has also postponed or cancelled the established contracts between government agencies and private firms. Hence, the defense cybersecurity industry exhibited a lower growth of 1.8% in 2020. Our research reports will help you find the best strategy meant solely for your business.

Drivers & Restraints-

Rising Expenditure on Defense by Developing Countries to Aid Growth

As per our analysis, North America will be overtaken by Asia Pacific by the end of 2029 because of its high spending on regional defense. In significant countries, such as India, Japan, and China, the increasing expenditure to refine the security of military services by government bodies will propel the defense cybersecurity market growth in the near future. In 2020, for instance, the defense budget of South Korea was USD 44 billion. However, the small and medium-sized enterprises (SMEs) often lack quality certifications to maintain robust partnerships with multiple companies. It may obstruct the demand for defense cybersecurity services.

Regional Insights-

Presence of Prominent Companies to Help Europe Remain in Second Position

Geographically, North America held USD 7.34 billion in 2020 in terms of revenue. It is set to remain at the forefront backed by the increasing agreement signing between companies and counties. The U.S. and India, for instance, signed a new agreement in October 2020 to gain access to the former’s sensitive military intelligence. On the other hand, Europe will be in the second position throughout the forthcoming years because of the presence of reputed defense cybersecurity firms, such as BAE Systems PLC, Atos SE, and SAP.

Competitive Landscape-

Key Players Focus on Acquisitions & Contract Signings to Gain Competitive Edge

The global market for defense cybersecurity contains several companies that are persistently striving to gain a competitive edge. To do so, they are mainly adopting strategies, such as acquisitions and bagging new contracts. Below is one of the latest industry developments:

  • June 2019: Accenture signed an agreement to acquire BCT Solutions, a technology consultancy, to augment the former’s technical expertise, deep cybersecurity, and cyber defense. The company is aiming to strengthen its position in the industry.

Inquire Before Buying This Report – 

https://www.fortunebusinessinsights.com/enquiry/queries/defense-cyber-security-market-105139

Read Industry News Blogs – 

Automatic Weapons Market Size

Automatic Weapons Market Share

Automatic Weapons Market Analysis

Automatic Weapons Market Revenue

Automatic Weapons Market Growth

Automatic Weapons Market Opportunities

Automatic Weapons Market Size

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

LinkedIn Facebook Twitter

By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.