The global defense cyber security market 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 market 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
Rising Cyberattacks Owing to Flexibility in Working Norms amid COVID-19 Pandemic to Affect Growth
Increasing Adoption of Artificial Intelligence to Accelerate Growth
Hardware Segment Procured 43.47% Share and Dominated in 2020
- 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 cyber security 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.
North America to Lead Stoked by Rising Agreement Signing with Other Regions
Winning New Contracts — A Vital Strategy of Key Companies
- 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.