Defense Electronic Security and Cybersecurity Market Forecast and Analysis 2025
Posted by BIS RSRCH on January 12th, 2021
The global defense electronics security and cybersecurity market is competitive, with the leading players actively competing against each other to gain the largest share. The competitive landscape of the defense electronics security and cybersecurity industry exhibits an inclination toward emerging strategies and developments by market players. Some of the strategies adopted by defense electronics security and cybersecurity providers are new product launches, facility expansions, contracts, partnerships, and collaborations. Among all the strategies adopted, contracts and partnerships have been the most prominent strategy adopted by the defense electronics security and cybersecurity providers.
The key players that are actively participating in the defense electronics security and cybersecurity market include BAE Systems, Northrop Grumman Corporation, Raytheon Technologies, Honeywell Security, Thales, Lockheed Martin Corporation, Cisco, IBM, Intel Corporation, Harris Corporation, Airbus S.A.S, DXC Technology, Symantec Corporation, and Booz Allen Hamilton Inc, among others.
The prominent players in the defense electronics security and cybersecurity market adopted strategies of new product launches, partnerships, collaborations and contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include mergers and acquisitions, facility expansions, and funding to develop advanced security systems. The industry landscape is quite competitive because of the dominance of a few players in the market. Innovation and development have been the key factors for large scale growth in this market. To increase their overall global footprint, defense electronics security and cybersecurity providers are expanding their businesses and are also entering into strategic partnerships to increase their customer base.
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 of advanced security systems that can adapt to a changing landscape and help in crucial missions. Manufacturers are also focusing on developing wide range of defense electronics along with cybersecurity software that are 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.
The rise in the number of military programs and growing military budgets has resulted in growing interest for the development and deployment of cybersecurity and defense electronic security systems by various companies across the globe. Growing military budgets have provided much-needed boost to the procurement programs of different platforms with integration of security solutions. The U.S. has dominated over other countries for over a decade, with a military budget of 8 billion for FY2020. In April 2019, the U.S. Air Force gave a contract to Northrop Grumman Corporation to deliver Cyber Enterprise Services (CES) on U.S. Cyber Command’s Unified Platform to improve the efficiency of country’s cyber missions.
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The need for enhanced border security due to issues related to increasing land disputes, migration, and smuggling, has forced several countries to strengthen their security. Additionally, evolving national interests, geopolitical developments, and changing outlines of national security strategy are factors that motivate emerging regional and global powers to reshape their defense strength through deploying modern security systems and technology. Such factors drive the global defense electronics security and cybersecurity market at a significant growth during the forecast period 2020-2025.
