The global defense electronic security cybersecurity market is expected to grow at a significant CAGR during the forecast period (2024-2031). The threats to civilian and military assets are accelerating in diversity, ferocity, and volume every day. Thus, the militaries of various countries require the need for advanced security systems, which can adapt to a changing landscape and support crucial missions. Manufacturers are also focusing on developing a wide range of defense electronics along with cybersecurity software that is upgradeable, durable, and reliable to thrive in the digital age and have the ability to neutralize and detect threats that have not been imagined yet.
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The Internet of Things (IoT) is a technology that connects distinct objects into larger networks. The IoT refers to networked physical assets such as fighter aircraft, surveillance drones, military vehicles, and others. IoT devices gather and transmit required data on situational metrics, such as temperature, location, usage, and status, that assist militants to get situational awareness on the desired military battlefield operations.
The global defense electronic security cybersecurity market analysis includes some of the key market players such as BAE Systems plc, Northrop Grumman Corp., Raytheon Technologies Corp., and L3 Harris Corp., among others. To maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships and collaborations, and mergers and acquisitions.
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Recent Developments-
- In June 2019, Accenture had completed the acquisition of BCT Solutions. The company specializes in command and control, cybersecurity, and cyber defense services. The acquisition will strengthen Accenture’s Cybersecurity portfolio.
- In December 2019, General Dynamics Corporation signed a contract worth $118 million with the US Army to provide mission support to the Department of Defense Information Network (DoDIN-A) through its Cybersecurity and Network Operations Mission Support (ADCNOMS).
Market Coverage
- Segment Covered-
o By Security Type
o By Deployment Mode
o By Component
- Competitive Landscape- BAE Systems plc, Northrop Grumman Corp., Raytheon Technologies Corp., and L3 Harris Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Defense Electronic Security Cybersecurity Market Report Segmentation
By Security Type
- Network Security
- Endpoint Security
- Cloud Security
- Application Security
- Others
By Deployment Mode
- On-Premise
- Cloud-Based
By Component
- Solution
- Services
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