Military Cybersecurity Market: Increasing adoption of cloud based storage solutions will affect the market positively in the forecast period of 2019-2026

Military Cybersecurity Market

Cybersecurity is a practice which is performed so that network, programs, mobile devices, and other application can be protected from any unrequired access or attacks. It is also known as information technology security. Cyber security is important because military, government, business, and medical organizations mostly collect, store, and process most of their data on computers. So, this helps them to protect their data from any unauthorized access and keep their private information secures. Military cyber-security is the collection of technologies based on different military authorities ' criteria and specifications.

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Few of the factors which are responsible for the growth of the global military cybersecurity market in the forecast period of 2019- 2026 are:

  • Growing adoption of cloud-based storage solutions:  Cloud storage is service model which is specially designed so the information can be collected, operated, securely backed up and made applicable to users over a network. The user as per their need and requirement pay the money for the storage. Public, private and hybrid are three of the common types of the cloud based storage solutions. There is increase in the demand for cloud storage because they are cost effective, are easily accessible, enhance security, and have the ability to sync all the changes which are made in the files.
  • Focus on better security from various private contractors regarding the confidential and intellectual property: Cybersecurity are the techniques which are used to protect the networks, and other programs from any unauthorized access. Some of the common area which are covered in cybersecurity are disaster recovery, information security, network security, and application security. Many companies are adopting these techniques because it protects the business, enhance productivity, prevent the website from going down, and make sure that business are safe from any cyber threats and breaches.

The Global Military Cybersecurity Market is segmented on the basis of type, end- point security, solution, and deployment. The type segment of the global military cybersecurity market is divided into network security, application security, end-point security, data security, identity & access, cloud security, and wireless security. On the basis of solution, the global military cybersecurity market  is segmented into threat intelligence & response management, identity & access management, data loss prevention management, security & vulnerability management, unified threat management, enterprise risk & compliance, managed security, others. The global military cybersecurity market is also segmented into deployment as cloud, and on-premise.

Many companies are making many launches and acquisition in the market which will help them to strengthen their market position and will also accelerate the demand of the military cybersecurity market. Some of the recent development and acquisition in the market are:

  • In February 2019, Singapore announced the launch of their Cyber Defence School which is specially designed to protect the nation from cyber- attacks. The Defense Ministry announced that the school will be providing two new schemes which will mainly focus on education and training. The main aim of the launch is to decrease the cybersecurity incidents and threats.
  • In June 2017, Germany announced the launch of their new military unit which is specially designed for keeping track on the private and public utilities. The special unit will take strict actions against the offenders. To addition to having the ability to repel the attacks, the cyber unit will also initiate the same attack of greater intensity on the perpetrators.

Military Cybersecurity Market is set to witness an estimated value of USD 15 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026

Few of the major competitors currently working in the global military cybersecurity market are Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, General Dynamics Mission Systems, Inc., Thales Group, BAE Systems, Booz Allen Hamilton Inc., CACI International Inc, Airbus,Salient CRGT, DIGITAL MANAGEMENT, LLC, KeyW Corporation, Check Point Software Technologies Ltd., FireEye, Inc., ManTech International Corporation, Radiance Technologies, Inc., Cisco and Symantec Corporation among others.

There is increase in the adoption of cloud- based services and increasing cybersecurity incidents which are affecting the growth of the market positively. Increasing penetration of AI and machine learning is also expected to accelerate the demand of the market. Current technologies and technological advances leading to the introduction of unmanned vehicles requiring a higher level of safety services to reduce the chances of hacking such goods will also accelerate the usage of military cybersecurity in the forecast period of 2019- 2026.

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