The military cybersecurity market has exhibited strong growth, rising from $13.28 billion in 2023 to $14.35 billion in 2024, with a CAGR of 8.0%. This growth is driven by increasing cyber threats and critical infrastructure protection needs. Forecasts suggest the market will reach $19.63 billion by 2028, with a CAGR of 8.2%. Factors contributing to this growth include skill shortages and the focus on supply chain security. Expected trends involve AI integration and the adoption of zero trust security frameworks.
Major Driver In The Military Cybersecurity Market
The military cybersecurity market is poised for growth due to an increased number of cyberattacks targeting government institutions globally. Cyberattacks pose a significant threat to information security, with instances of attacks rising by 95% in the second half of 2022 alone, as reported by Parachute Technology in April 2023. The cost of data breaches in the government's public sector also saw a notable increase, rising by 7.25% from $1.93 million in 2021 to $2.07 million in 2022. To safeguard critical information resources and ensure operational integrity, military cybersecurity plays a crucial role in preventing attacks on social networks, data theft, and disruptions to network infrastructure. Thus, the escalating frequency of cyberattacks underscores the necessity for robust military cybersecurity measures, driving the growth of this market.
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Military Cybersecurity Market Competitive Landscape
Mitsubishi Corporation, Airbus SE, Raytheon Technologies Company, Lockheed Martin Corporation, International Business Machines Corporation, Cisco Systems Inc., Northrop Grumman Corporation, Broadcom Inc., BAE Systems plc, Thales Group, Leidos Holdings, Inc., General Dynamics Mission Systems Inc., Huntington Ingalls Industries, Inc., Booz Allen Hamilton Inc., Science Applications International Corporation, Rheinmetall AG, ST Engineering Ltd., Sopra Steria Group, Israel Aerospace Industries Ltd., ThyssenKrupp AG, Perspecta Inc., The Carlyle Group Inc. ManTech International Corporation, CACI International Inc., Check Point Software Technologies Ltd., Palantir Technologies Inc., QinetiQ Group plc, Hanwha Corporation, FireEye Inc., Salient CRGT, Netcentric Corporation
Key Military Cybersecurity Market Trend
Major companies operating in the military cybersecurity market are focused on developing innovative products to sustain their position in the market. For instance, in July 2022, CCX Technologies, a Canada-based manufacturer of a range of products for aerospace OEMs, aircraft maintainers, and military contractors, launched SystemX enterprise cybersecurity software. SystemX Enterprise is the first cyber security solution built for direct interaction with aviation, aerospace, and defense systems to protect their onboard networks from cyber threats. The package includes comprehensive, customizable cyber defense and security software tools, maintenance, and expert integration assistance. SystemX Enterprise is exceptionally versatile and can suit various requirements, especially for diverse automobile platforms.
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Military Cybersecurity Market Segmentation
The military cybersecurity market covered in this report is segmented –
1) By Type: Defensive Cybersecurity, Offensive Cybersecurity
2) By Platform: Hardware, Service, Software
3) By Security Type: Network Security, Cyber Threat Intelligence, IT Infrastructure, Logistics And Operation Security, Training Services
4) By Solution: Threat Intelligence And Response Management, Identity And Access Management, Data Loss Prevention Management, Security And Vulnerability Management, Unified Threat Management, Enterprise Risk And Compliance, Managed Security, Other Solutions
5) By Application: Ground Force, Air Force, Marine Force
By Geography:The regions covered in the military cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the military cybersecurity market in 2023.
The Military Cybersecurity Global Market Report 2024 furnishes information about the global military cybersecurity market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
