Cybersecurity solutions help a defense organization system to monitor, detect, research, and counter cyber threats that are internet-based attempts to damage or disrupt information systems and hack critical information using spyware to maintain data confidentiality. Nowadays, various companies are using IoT for a large number of military applications, such as AR remote training, autonomous reconnaissance, real-time fleet and vehicle management, and monitoring of combat health.
As per the study, the industry for defense cybersecurity stood at USD 19.96 billion in 2020. It is set to exhibit a CAGR of 5.36% during the forecast period between 2021-2028. The study further mentions that numerous countries are redesigning their defense security norms to protect their crucial data. The U.S. Department of Defense (DoD), for instance, launched new guidelines in January 2020 through Cybersecurity Maturity Model Certification (CMMC) for defense-based contractors. The global defense cybersecurity industry size is projected to reach USD 29.81 billion in 2028.
Rising Cyberattacks Owing to Flexibility in Working Norms amid COVID-19 Pandemic to Affect Growth
The global defense cybersecurity market for showcased a lower growth of 1.8% in 2020 owing to the COVID-19 pandemic. It has also surged the number of cyberattacks because of the flexibility in working policies for military personnel. In Switzerland, for instance, over 100 to 150 cyber-attacks occurred in 2019 after the pandemic started. We are providing accurate research researchs to help you overcome this grave situation.
The research studies decisive segments of this industry containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help out clients to accurately determine the size of the defense cybersecurity industry to guide them in choosing the right segment for their business growth.
Increasing Adoption of Artificial Intelligence to Accelerate Growth
The rapid evolution of military warfare techniques has resulted in the shift of military aircraft manufacturers towards the usage of autonomous aircraft from traditional aircraft. Autonomous advanced fighter jets, especially UTAP-22 Mako jet and Kratos XQ-58 Valkyrie are capable of enhancing missile-carrying capacity and situational awareness. They use artificial intelligence (AI) to tackle complex situations through air-to-air communication.
Besides, the AI delivers optimized route determination and easy execution of critical missions. The adoption of such technologies reduces the risk of mission failures. These factors are expected to augment the defense cybersecurity industry growth in the upcoming years. However, changes in governmental norms often lead to financial losses for small scale companies. It may obstruct the demand for defense cybersecurity solutions.
Winning New Contracts — A Vital Strategy of Key Companies
The industry houses a large number of enterprises. Most of them are focusing on winning new contracts from regulatory bodies to provide their in-house defense cybersecurity solutions. Amongst them, Northrop Grumman Corporation is one of the leading firms offering a huge portfolio of cybersecurity-based products. Below is one of the most recent industry developments:
Lists out the names of reputed defense cybersecurity providers operating in the global industry is Leidos Holding Inc., Accenture, IBM Corporation, General Dynamics Corporation, BAE Systems PLC, DXC Technology Company, Dell Inc., Fujitsu Limited, Oracle Corporation, SAP SE, Microsoft Corporation, Amazon, Inc., AT&T Intellectual Property, CACI International Inc., Atkins, Safran SA.
North America to Lead Stoked by Rising Agreement Signing with Other Regions
- North America: The region procured USD 7.34 billion in terms of revenue and remained in the leading position throughout 2020. Multiple companies in this region are signing new agreements with government bodies of other countries to improve their defense cybersecurity systems.
- Europe: The region stood in the second position in 2020 because of the major contributions of France and the U.K. as these countries are increasingly spending in various defense cybersecurity solutions.
- Asia Pacific: It will showcase the highest CAGR in the near future backed by the rising investments in cybersecurity services by countries, such as Australia, South Korea, and Japan. These countries are prone to cyberattacks.
The market houses a large number of enterprises. Most of them are focusing on winning new contracts from regulatory bodies to provide their in-house defense cybersecurity solutions. Amongst them, Northrop Grumman Corporation is one of the leading firms offering a huge portfolio of cybersecurity-based products. Below is one of the most recent industry developments:
December 2019: General Dynamics Information Technology (GDIT) will offer mission support to the Department of Defense Information Network (DoDIN-A) of the U.S. Army. This new contract will bolster the company’s ability to implement numerous resources and deliver superior talent in Arizona.
Hardware Segment Procured 43.47% Share and Dominated in 2020
Based on the security type, the market is divided into network security, cyber threat intelligence, IT infrastructure, logistics and operations security, and training services. Here’s a brief about the platform criterion:
- By Platform: The market is categorized into software, services, and hardware. Out of these, the hardware segment generated 43.47% in terms of the defense cybersecurity market share and dominated in 2020. The rising initiatives by governments of various countries, such as India, China, and the U.S., for modernizing or upgrading their defense IT infrastructure would aid growth.
BAE Systems Receives USD 94 Million Contract from NAWCAD
In November 2020, BAE Systems bagged a new contract worth USD 94 million from the Webster Outlying Field (WOLF) of the Naval Air Warfare Center Aircraft Division (NAWCAD). It would enable the company to supply evaluation support, test, and engineering for communication, weapon systems, control, and sensors. These will be provided for unmanned and manned airborne platforms.
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