Market Trends of Defense Cyber Security Industry
Growing Severity of Cyber Attacks on Military/Government Organizations
- The number of attacks against governments, businesses, and individuals has increased by leaps and bounds. As attackers begin to realize the value in disrupting security systems that were once considered impenetrable, defense infrastructure is quickly becoming a target of choice among both individual and state-sponsored hackers.
- The growth of the market in this sector during the past decade has been driven by increased adoption of Machine-to-Machine Technologies within the aeronautics field, as well as a policy focus from governments aimed at increasing cybersecurity to counter cyber terrorism.
- Cyber attacks, which may have a devastating impact on the whole world, can be extremely vulnerable to navigation and guidance systems. Therefore, a robust safety infrastructure needs to be in place for computers and networks of all ground and air operations.
- As government and defense organizations expand operations to include the use of technologies such as the Internet of Things, mobile, and cloud, they inherently extend their cyber exposure. Data stratification in cyberspace extends throughout government and defense organizations, and regardless of the level of traditional security precautions, the cyber risk persists anywhere data exists. This creates a need to protect and manage private and sensitive information.
- In addition, to ensure the protection of important data, countries such as India are also stepping up their investment in cyber security systems.
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North America is Expected to Exhibit a Significant Growth
- The United States, a major advanced economy, heavily relies on the Internet and has become particularly susceptible to cyber-attacks. At the same time, as well as being equipped with state-of-the-art technology and a sizeable military budget, this country has considerable defense capabilities. The United States continues to be at risk from malicious cyber attacks by its domestic or foreign enemies. The country has developed a strong cyber capability for its defense industry in response to these increasing threats.
- A significant market share of the defense cyber security market is projected to be held by Canada. The main drivers of demand in the country have been increased spending on cyber security, government initiatives for securing a computerized framework, and an emphasis on strengthening cybersecurity approaches.
- Furthermore, development in the business sector is being driven by building up cybersecurity units and installing powerful cyber defense systems in government organisations, military forces and security services.
- Also, Canada is home to major technological giants, which have been investing heavily in its cybersecurity R&D (Research and Development) initiatives to keep up with the heterogeneous nature of the cyber threats. The rising number of connected devices and rapid digitization in Canada is expected to drive the defense cybersecurity market in the country in the forecast period.
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