Press Release

A USD 15.5 Billion Global Military Cybersecurity Market to Accelerate at a CAGR of around 6.6% During 2024-2030

The Global Military Cybersecurity Market size was valued at around USD 15.5 billion in 2023 and is projected to grow at a CAGR of about 6.6% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The growth in the market is driven by the surge in cyber threats such as data leaks, breaches, unauthorized access, and other malicious activities against military networks and systems due to the rise in non-kinetic warfare. Also, increasing defense spending across the globe is at an all-time high due to rising global conflicts. As these scenarios play out and the intensity of cyber-attacks increases, militaries across the globe will be looking to acquire the cybersecurity capabilities to safeguard their cyberspace to ensure the smooth functioning of their operations and their strategic advantages.

Additionally, nations want to modernize the navy by incorporating Unmanned Aerial Vehicles (UAVs), robots, and superior electronics and telecommunication structures to boost their operational reach and cause them to be extra digitalized. Also, the implementation of the latest technological improvements consisting of Artificial Intelligence (AI) and Machine Learning (ML) will increase the publicity of militaries in our online world, putting them extra at risk of cyber threats. Further, the actions of numerous governments across the globe to enforce rules related to the safety of facts and ensuring information privacy will likely propel the militaries to take the necessary compliance measures.

These scenarios highlight the growth potential that will fuel the growth in the Market and the huge opportunities to be capitalized by the businesses and the leading market player, further states the research report, “Global Military Cybersecurity Market Analysis, 2024.”

Segmentation Analysis

Land Force Segment Holds the Largest Market Share

Based on the end user, the market is further bifurcated into, Land Force, Naval Force, and Air Force. The land force segment holds the largest market share in the end-user segment and will likely show strong growth over the forecasted period as well. As the complexities and reach of the operations on the ground increased, so did the resources and technological advancements to support these operations. This can make them open to vulnerabilities which can be targeted by the adversaries to steal the classified information and disrupt their chain of command. The capabilities to safeguard against such threats will fuel the growth in the segment and the Market as a whole.

North America Leads the Military Cybersecurity Industry

North America is and will remain the biggest player in the Global Military Cybersecurity Market, As North America has the United States of America (USA) which spends massively on its military and has the largest economy to substantiate the defense budget of around USD 916 billion in 2023. Additionally, the leading companies that are driving innovation and technological advancements in the cybersecurity market across the globe are majorly based in the USA and North America. The USA has its military installations and assets spread across the globe and space leading to a massive requirement to acquire and implement cybersecurity capabilities to counter the growing cyber-attacks against it and its allies. These scenarios put North America as a lucrative region for the key players in the Market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Lockheed Martin, Northrop Grumman, BAE Systems, Raytheon Technologies, Thales Group, Airbus, General Dynamics, Booz Allen Hamilton, IBM Corporation, Intel Corporation, Cisco Systems Inc., L3Harris Technologies, Palantir Technologies, Sopra Steria, Leidos, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?