Defense Cyber Security Market Growth Prediction, Investment Opportunity, Product Type and Forecast 2031

The concept of defense cyber security is typically attributed to a series of security protocols and controls of defense organizations.

PORTLAND, OR, UNITED STATES, March 10, 2023 /EINPresswire.com/ — A growing risk of cyber threat to critical infrastructures by structured criminal groups, technological improvement in the cyber security industry, increase in demand for defense IT expenditure, transition of conventional military aircrafts into autonomous aircrafts, and increased dependency of military organizations on the internet drive the growth of the global defense cyber security market. However, limited awareness related to cyber security and lack of cyber security professionals or workforce hamper the global market growth. On the other hand, increase in threats and warnings related to cyber-attack on officials and adoption of IoT in cyber security technology present new growth opportunities for the global market in the coming years.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 – https://www.alliedmarketresearch.com/request-sample/10092

According to a new report published by Allied Market Research, titled, “Defense Cyber Security Market,” The defense cyber security market was valued at $21.3 billion in 2021, and is estimated to reach $43.4 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic rendered the military sectors in some nations to meet with shortfalls of the looming budget.
Nevertheless, various governments worldwide adopted cyber security automation solutions for their military applications by focusing on minimizing the operating expenditures (OPEX) while taking appropriate measures against cyber threats.

For instance, in June 2020, the Australian government allocated $1.35 billion towards enhancing the nation’s cyber security capabilities over the next decade, under the Cyber Enhanced Situational Awareness and Response (CESAR) package. Under this CESAR, $35 million is allocated toward a new cyber threat-sharing platform which assists government to share intelligence about cyber activity and block emerging threats in the future.

The concept of defense cyber security is typically attributed to a series of security protocols and controls that are layered throughout an IT network to preserve the integrity and privacy of defense organizations. Every organization has vulnerabilities that an attacker can exploit to gain access and cause damage. Hence, the in depth strategy of defense cyber security is to protect against a wide range of threats and close all of an organization’s security holes in order to protect it effectively against cyber threats.

Furthermore, implementing IT solutions in defense operations has become significant, owing to the growing evolution in the type and occurrence of attacks across the globe. This is anticipated to surge in demand for innovative and modern technologies such as 5G, artificial intelligence, cloud computing, data analytics, cyber security, and autonomous systems across various defense systems.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/purchase-enquiry/10092

For the past few years, major defense companies such as Thales Group, Northrop Grumman Corporation, Safran SA, and others have established long term contracts with several countries’ governments and governing bodies to install defense cyber security systems. For instance, in September 2020, Northrop Grumman Corporation awarded a task order contract by the U.S. General Services Administration’s (GSA) Federal Systems Integration and Management Center (FEDSIM) and the Defense Intelligence Agency, to help the organization deliver actionable intelligence with speed and enhance decision superiority.

In addition, the global defense cyber security industry size has witnessed significant growth in recent years, owing to the increased dependency of military organizations on the internet network, growing advancements in information technology, and increasing government initiatives to secure critical data. For instance, in March 2021, the government announced its plans regarding National Cyber Force and set up a Cyber Corridor in north of England. This is expected to set out the importance of cyber security to the country’s defense, extending from cyber enhanced battlefield capabilities for the armed forces to internet security for household users.

The factors such as increase in demand for defense IT expenditure, transition, of conventional military aircraft into autonomous aircraft, and growth in cyber-attacks on the regulatory, trade and individuals supplement the growth of the defense cyber security market. However, limited awareness related to cyber security and lack of cyber security professionals or workforce are the factors expected to hamper the growth of the defense cyber security market. In addition, increasing threats and warnings related to cyber-attack on officials and adoption of IoT in cyber security technology creates market opportunities for the key players operating in the defense cyber security market.

COVID-19 Impact Analysis:

Governments across the world adopted cyber security automation solutions for their military applications by concentrating on reducing operating expenditures (OPEX) while maintaining adequate measures against cyber threats. For instance, in June 2020, the Australian government decided to spend $1.35 billion towards enhancing the nation’s cyber security capabilities over next decade, under the Cyber Enhanced Situational Awareness and Response (CESAR) package. Under this package, $35 million would be kept for a new cyber threat-sharing platform that can help the government to share intelligence about cyber activity and block emerging threats in the future.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝗻 @ https://www.alliedmarketresearch.com/defense-cyber-security-market/purchase-options

KEY FINDINGS OF THE STUDY

By type, the network security solutions segment dominated the global Defense Cyber Security market in terms of growth rate during the forecast period.
By deployment, the cloud segment dominated the global defense cyber security market in terms of growth rate during the forecast period.
By solution, the managed security segment dominated the global defense cyber security market in terms of growth rate.
By application, the communication networks segment dominated the global Defense Cyber Security market in terms of growth rate.

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