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Military Sensors Cybersecurity Solutions Market | Acumen Research and Consulting

Military Sensors Cybersecurity Solutions Market - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2030

Published : Mar 2021

Report ID: ARC2536

Pages : 250

Format : Military Sensors Cybersecurity Solutions Market - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2030

Summary Table of Content Customization Download Sample Infographics

The military sensors cybersecurity solutions are advanced components/devices that are used for monitor data traffic, identifies and detects threats, analyses stealthy characteristic signs of malware, etc., and alert the system in case of any attack. These systems aid defense sector in various applications such as combat operations, target recognition, electronic warfare, etc.

Market Dynamics

Rising cyber attacks on military and government websites have compelled the governments of developed and developing countries to spend high on strengthening military cyber security. The Government authorities through various modernizing projects are focused on deploying advanced systems for various applications such as combat operations, target recognition, electronic warfare, communication & navigation, etc. The Department of Homeland Security (DHS) in the U.S. has requested US$ 2.6 Bn as cyber security budget for the financial year 2021. This sum would comprise 13.87% of the total requested budget among the CFO act government agencies. India military spending/defense budget for 2019 was US$ 71.12 Bn, a 7.35% increase from 2018. In 2019, the government of India finalized a road map to spend US$130 Bn to modernize the Armed Forces and bolster capabilities to effectively counter the challenges from its neighboring countries like Pakistan and China. Private players are investing high for the development of advanced products; their approach towards collaborative work for R&D activities are factors expected to impact the growth of the military sensors cybersecurity solutions market.

In 2019, Ball Aerospace, a manufacturer of spacecraft, components, and instruments for national defense, civil space, and commercial space applications collaborated with Telesat with the focus to develop fully electronically-steered flat panel antenna. This is expected to help the company to enhance the business strength.

In 2018 BAE Systems, arms, security, and aerospace company received a contract from the US government worth US$ 97 Mn for the supply of new night vision goggles and thermal weapon sights.

Factors such as high cost of R&D activities, lack of funding and lack of accuracy and operational complexities are expected to hamper the growth of global military sensors cybersecurity solutions market. In addition, complexities in manufacturing of sensors and cyber security risk are factors expected to challenge the growth of target market. However, increasing demand for advanced new generation advanced security and high investment for R&D activities are factors expected to create new opportunities for players operating in the military sensors cybersecurity solutions market over the forecast period. In addition, increasing partnership and agreements in order to enhance the business strength is expected to support the revenue transaction of the target market.

Segment Analysis by Region

The market in North America is expected to account for a major revenue share in the global military sensors cybersecurity solutions market due to increasing government spending in the development of defense systems. Cyber attack is a major threat to the government of various countries. Government of developed counties is spending high on safeguarding the financial and defense sector. In collaboration with the private players, the government is focused on the development of stronger, more resilient armor that detects and deters attacks. The U.S. military spending is US$ 934 Bn between the period from October 2020 to September 2021. According to Atlas VPN, an online internet service providing company, the US government is set to allocate US$ 18.78 Bn for overall cybersecurity spending in 2021. The government is coming up with various strategic solutions in order to deal with cyber attacks. In September 2018, the White House published the National Cyber Strategy, which provides strategic steps towards securing the government and all critical infrastructures from cyber threats. In 2018, under the Trump administration Cybersecurity and Infrastructure Security Agency Act of 2018 was passed, for a coordinated federal effort to combat cyber attacks. These factors are expected to positively impact the growth of target market in this region.

The market in Asia Pacific is expected to witness faster growth in the military sensors cybersecurity solutions market due to increasing spending of the developing countries on cybersecurity. Military equipment manufacturers are spending high on product development.

Competitive Landscape      

The global military sensors cybersecurity solutions market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market

Global Military Sensors Cybersecurity Solutions Market

Analysis Period

2016 – 2030

Base Year

2020

Forecast Data

2021 – 2030

Market Stratification

Platform, Application and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling,
Regulation Analysis

 
Military Sensors Cybersecurity Solutions Market Segment Analysis, 2019

The global military sensors cybersecurity solutions market is segmented into platforms and applications. The platform segment is bifurcated into space, munition, land, naval, and airborne. Among platforms, the space segment is expected to witness faster growth as compared to other segment in the military sensors cybersecurity solutions market over the forecast period. The application segment is divided into combat operations, target recognition, electronic warfare, communication & navigation, command & control, surveillance & monitoring, and intelligence & reconnaissance. Among applications, the communication & navigation segment is expected to account for a noticeable revenue share in the military sensors cybersecurity solutions market. The players profiled in the report are Thales Group, BAE Systems plc, Raytheon Company, Curtiss-Wright Corporation, Honeywell International Inc., Esterline Technologies Corporation, Kongsberg Gruppen ASA, TE Connectivity Ltd., Lockheed Martin Corporation, and Rockwest Solutions.

Market Segmentation

Market By Platform

Space
Munition
Land
Naval
Airborne

Market By Application

Combat Operations
Target Recognition
Electronic Warfare
Communication & Navigation
Command & Control
Surveillance & Monitoring
Intelligence & Reconnaissance

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa

Frequently Asked Questions

Which is the major factor expected to drive the global market?

Rising cyber attacks on military and government websites have compelled the governments of developed and developing countries to spend high on strengthening the military cyber security. This is the major factor expected to drive the growth of global military sensors cybersecurity solutions market.

Which segment is growing in platform segment?

In platform, the space segment is growing at faster pace.

Which region is expected to grow faster?

In the global market, Asia Pacific is expected to grow faster.

Which are the players considered in the report scope?

Some of the players considered in the report scope are Thales Group, BAE Systems plc, Raytheon Company, Curtiss-Wright Corporation, and Honeywell International Inc.

Which region is expected to account for major revenue share in the global market?

The North America is expected to account for major revenue share in the global market.

Which segment is growing faster in application?

In application the communication & navigation segment is growing at faster pace.

Which is the major factor expected to hamper the growth of global market?

Factors such as high cost of R&D activities, lack of funding and lack of accuracy and operational complexities are expected to hamper the growth of global military sensors cybersecurity solutions market.

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