"The global defense electronics security and cybersecurity market value is projected to reach $51.59 billion by 2025, reveals the premium market intelligence study. The study also highlights that the market value is set to witness a CAGR of 9.65% during the period between 2020 and 2025.
The comprehensive study of the global defense electronics security and cybersecurity market extensively covers the following:
Besides these parameters, the study also encompasses market growth drivers, opportunities, market restraining factors, market share analysis, segmental analysis, key consortiums and associations, patent analysis, and various military programs.
This study indicates that the increase in the defense budget for strengthening military capability, growing demand for border security amidst international disputes, adoption of cloud services in the military, rising cyber threat for military data are some of the factors fueling the growth of the market.
The study highlights various emerging opportunities, such as modernization plan of defense forces, expansion of the facility by the key players, and increasing launch of cybersecurity solutions.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include security type, deployment mode, component, and region. Each of these segments is further categorized into micro-segments to compile an in-depth study.
The security type analysis of the global market includes data analysis of micro-segments such as network security, endpoint security, application security, cloud security, and industrial control system security.
Shipra Jain, Senior Research Analyst, states, "With the help of artificial intelligence, various countries are focusing on improving the capacity of intelligence communications and introducing new systems which are capable of responding and adapting to operational environment to carry out missions without humans. Focusing on such advanced technologies by countries is expected to lead significant opportunities for the players to retain the share in the defense electronics security and cybersecurity market.”
Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include BAE Systems, Northrop Grumman Corporation, Raytheon Technologies Corporation, L3 Harris Corporation, Honeywell Security, Thales Group, Lockheed Martin Corporation, IBM Corporation, Cisco Systems, Symantec Corporation, DXC Technology, Booz Allen Hamilton, Intel Corporation, Airbus S.A.S, and Boeing, among others.
The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations also offer bespoke research services to help organizations meet their objectives.
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Source: ASDReports - Market Research
Date: Jan 11, 2021