Global Military Cybersecurity Market is projected to reach at a

On Oct 4, 2021

Visiongain has published a new report on Global Military Cyber Security Market Report Forecast 2021-2031. Forecasts by Type (Network Security, Application Security, Data Security, Identity & Access, Cloud Security, Wireless Security and End-Point Security), PLUS, Profiles of Leading Military Cybersecurity Companies and Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios.

Global Military Cybersecurity market was valued at US$ 25,692.4 million in 2021 and is projected to reach at a market value of US$ 43,675.2 million by 2031, growing at a CAGR of 5.4% during 2021-2031. Some of the major factors fueling the growth of global market includes rising investment in R&D activities, capitalization on emerging technologies such as and artificial intelligence, IoT and combat technologies.

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COVID-19 Impact on Global Military Cyber Security Market

The global military cybersecurity market is highly impacted by COVID-19. The COVID-19 has both, positive and negative impacts on the market. The market has a neutral impact due to limited infrastructure at the beginning of the lockdown phase however, in the late phase the demand for military cybersecurity solutions increased owing to the rise in cyber spam caused by hackers across the globe. During the COVID-19 outbreak, public authorities across different countries invested huge amounts in transforming the military infrastructure. In addition, the military authorities signed a memorandum of understanding with the combat machine manufacturers to guard the intrusion from enemy countries. During this period, the military cybersecurity sales surged owing to rising mergers and acquisitions, R&D activities, collaborations, and other business strategies

Market Drivers

Rising deployment of cloud-based cybersecurity infrastructure

The military units are deployed with cloud computing for extensive storage, real-time analysis, and remote monitoring. The market players are collaborating with the government authorities to offer advanced military cyber security solutions. For instance, in October 2019, Microsoft Azure offered military cloud computing, to provide a competitive edge during combat. JEDI (Joint Enterprise Defense Infrastructure) program provided modern and enterprise-level cloud services to the Department of Defense. The integration of the solution aims to aid technical assistance to the soldiers and will provide the analyzed report to the fighters during battle. This agreement facilitates cyber security, cloud computing, and trusted computing services to the air force, U.S. Army, Marine Corps, Navy, and the defense intelligence community. Moreover, a few of the developing countries such as India, Australia is investing in the intelligence cloud infrastructure to strengthen their military power driving the demand for military cyber security solutions.