Market Size of Defense Cyber Security Industry
| Study Period | 2023 - 2029 |
| Market Size (2024) | USD 22.95 Billion |
| Market Size (2029) | USD 41.94 Billion |
| CAGR (2024 - 2029) | 12.82 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Defense Cyber Security Market Analysis
The Defense Cyber Security Market size is estimated at USD 22.95 billion in 2024, and is expected to reach USD 41.94 billion by 2029, growing at a CAGR of 12.82% during the forecast period (2024-2029).
- Cyber threats are attempts made on the Internet to damage or disrupt Information Systems and steal critical information through various means, e.g., spyware and malware, as well as phishing. The landscape of defense networks in almost every country is changing due to the development of information technology and communication technologies. However, the threats are rapidly increasing as technology evolves. To safeguard data confidentiality, cybersecurity solutions provide defense organizations with the ability to monitor, detect, report, and deal with cyber threats.
- Over the last decade, a dynamic change has occurred within the defense industry. Reliable and enhanced cybersecurity solutions have been sought for the defense industry by increasing technological developments in information technology, improving existing weaponry with intelligence, surveillance, or a growing volume of classified data collected from different systems.
- Furthermore, cyber-attacks have become more frequent and sophisticated due to increased dependence on military organizations on the Internet. A significant focus is being put on adopting cybersecurity solutions within the defense sector to combat these vulnerabilities.
- Moreover, Past few years, the defense sector has undergone a wide range of changes. Reliable, more efficient cybersecurity solutions are needed for the defense sector due to increasing advances in information technology, the upgradation of old weapons with intelligence, surveillance, and an ever greater quantity of classified data collected from different systems.
- The growth of this market is expected to be hindered by factors such as a low priority for defense finance in some countries, coupled with the Return on Investment metrics, while factors such as the growing severity of cyber attacks against military or government organizations and an increasing commitment from governments to secure critical data.
- Amidst the rapidly shifting landscape in the wake of the COVID-19 pandemic, IT security teams in defense organizations are being faced with shoring up security in the face of increased attacks, on top of their regular responsibilities of managing risk and meeting compliance.
