Defense cybersecurity is as important as national or government security; therefore, this industry has the potential to survive, during such pandemic situations, where every sector has confidential data that needs to be kept secured to prevent theft and misuse by enemies. Current risks of cyber-attacks by organized crime organizations on sensitive infrastructures & high-value assets, technological advances in the Defence information security industry remain the primary drivers for the creation of cybersecurity solutions for the defense sector.
Increasing Adoption of Artificial Intelligence to Accelerate Industry 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 cyber security 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.
The global defense cyber security industry size is projected to reach USD 29.81 billion in 2028. 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 by Fortune Business Insights™, the industry stood at USD 19.62 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.
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.
Worldwide Company List
Fortune Business Insights™ lists out the names of reputed defense cyber security providers operating in the global industry are Dell Inc. (The U.S.), Northrop Grumman Corporation (The U.S.), Unisys Corporation (The U.S.), Atos SE(France), Capgemini SE (France), Fujitsu Limited (Japan), Oracle Corporation (The U.S.), SAP SE (Germany), Microsoft Corporation (The U.S.), Amazon, Inc. (The U.S.), AT&T Intellectual Property (The U.S.), CACI International Inc. (The U.S.), Atkins (The U.K), Safran SA (France), Leidos Holding Inc. (The U.S.), Accenture (Ireland), IBM Corporation (The U.S.), General Dynamics Corporation (The U.S.), BAE Systems PLC (The U.K), DXC Technology Company (The U.S.), and more players
Rising Cyberattacks Owing to Flexibility in Working Norms amid COVID-19 Pandemic to Affect Growth
The global industry for defense cyber security 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 research’s to help you overcome this grave situation.
The defense network security solutions segment is expected to grow at a significant rate during the coming years. The rising implementation of the internet of things (IoT) and artificial intelligence (AI) in the modern battlefield management is propelling the growth of this industry. The cyber threat intelligence segment is anticipated to grow at the highest CAGR during the forecast period. Key Players such as Northrop Grumman Corporation, and Thales Group are the leading services providers of cyber Defence intelligence to various countries’ governments. Recently updates, Thales Group established a cyberlab in Belgium dedicated to the advanced research and development facility.
Worldwide Regional Insights
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 type of cyber security 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 cyber security solutions for defense.
- Asia Pacific: It will showcase the highest CAGR in the near future backed by the rising investments in cyber security services by countries, such as Australia, South Korea, and Japan. These countries are prone to cyberattacks.
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 cyber security 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.
Industry Research Coverage
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 this industry to guide them in choosing the right segment for their business growth.