Cyber Warfare market is projected to grow at a CAGR of 17.7% by 2034: Visiongain

/EIN News/ -- Visiongain has published a new report entitled Cyber Warfare Market Report 2024-2034: Forecasts by (Type, Defensive Cyber Warfare, Offensive Cyber Warfare), by Solution (Cyber Security Solutions, Cyber Weapons, Other), by Cyber Weapons (Malware, Denial of Service (DoS) Attacks, Phishing Attacks, Zero-day Exploits), by Cyber Security Solutions (Intrusion Detection Systems, Firewalls, Encryption, Data Loss Prevention, Other), by Application (Government and Defence, BFSI, IT and Telecom, Healthcare, Energy and Utilities, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.

The global cyber warfare market is estimated at US$65.9 billion in 2024 and is projected to grow at a CAGR of 17.7% during the forecast period 2024-2034.

Need for Cyber Resilience in Critical Infrastructure

The resilience of critical infrastructure to cyber-attacks is of paramount importance to national security and economic stability. Sectors such as energy, transportation, and telecommunications are increasingly targeted by cyber adversaries, necessitating robust cyber defence measures. The 2015 cyber-attack on Ukraine's power grid, which caused widespread power outages, highlighted the vulnerability of critical infrastructure to cyber threats. Ensuring the cyber resilience of critical infrastructure is a significant driver for the cyber warfare market, as nations seek to protect their vital assets from potential disruptions.

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How will this Report Benefit you?

Visiongain’s 405-page report provides 117 tables and 208 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the cyber warfare market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Cyber Warfare. Get financial analysis of the overall market and different segments including type, solution, cyber weapons, cybersecurity solutions, and application and capture higher market share. We believe that there are strong opportunities in this fast-growing cyber warfare market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Rising Geopolitical Tensions and State-Sponsored Cyber Attacks

The escalation of geopolitical tensions has driven a surge in state-sponsored cyber attacks, highlighting the need for robust cyber warfare capabilities. Nations are increasingly investing in offensive and defensive cyber warfare technologies to safeguard their interests and counter potential threats. For instance, the Russian government's alleged cyber interference in the 2016 U.S. elections brought global attention to the strategic use of cyber tools in achieving political goals. Countries like China, North Korea, and Iran are also believed to have sophisticated cyber warfare units, prompting other nations to enhance their cyber defenses.

Increasing Dependence on Digital Infrastructure

As societies become more reliant on digital infrastructure, the vulnerabilities associated with cyber-attacks have grown exponentially. Critical sectors such as finance, healthcare, and energy are increasingly targeted by cyber adversaries, necessitating the development of advanced cyber defense mechanisms. The 2017 WannaCry ransomware attack, which affected numerous organizations worldwide, underscored the potential damage cyber-attacks can inflict on critical infrastructure. This growing dependence on digital systems is a key driver for the expansion of the cyber warfare market, as nations strive to protect their vital assets from cyber threats.

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Where are the Market Opportunities?

Investment in Advanced Cybersecurity Technologies

The rapid advancement of technology presents a significant opportunity for the global cyber warfare market through the investment in and development of cutting-edge cybersecurity solutions. Emerging technologies such as artificial intelligence (AI), machine learning (ML), and blockchain offer innovative ways to detect, prevent, and respond to cyber threats. AI and ML, for example, enable the development of intelligent systems capable of analysing vast amounts of data in real-time to identify patterns and anomalies indicative of cyber-attacks. These technologies enhance threat detection and response times, making cyber defence more proactive and efficient. Blockchain technology, known for its secure and decentralised nature, offers promising applications in enhancing data integrity and security.

Expansion of Cyber Insurance Market

The expansion of the cyber insurance market presents a significant opportunity within the broader cyber warfare landscape. As cyber threats become more prevalent and costlier, organisations are increasingly seeking financial protection against potential losses resulting from cyber incidents. Cyber insurance provides coverage for various aspects of cyber risk, including data breaches, ransomware attacks, business interruption, and legal liabilities.

The growing recognition of the financial impact of cyber-attacks is driving demand for cyber insurance policies. High-profile incidents, such as the NotPetya attack, which caused billions of dollars in damages, have underscored the need for robust cyber risk management strategies. Insurance companies are responding to this demand by developing tailored policies that address the specific risks faced by different industries and organisations.

Competitive Landscape

The major players operating in the cyber warfare market are Airbus SE, BAE Systems plc, Booz Allen Hamilton Holding Corporation, DXC Technology Company, General Dynamics Corporation, Intel Corporation, International Business Machines Corporation, L3Harris Technologies, Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

• 12 April 2024, Proximus, the top digital and telecommunications service provider in Belgium, has formed a strategic alliance with Airbus, the global leader in aircraft. They will collaborate to introduce "Agnet MCx," a tool for collaboration and business-critical communications, to the Belgian market.
• 15 May 2024, The U.S. Navy has chosen BAE Systems to develop Dual Band Decoy (DBD), one of the world's most sophisticated radio frequency (RF) countermeasures. DBD is a state-of-the-art RF self-protection jammer designed to prevent enemy attacks on fighter jets. Increasing the capabilities of the battle-tested BAE Systems The AN/ALE-55 Fiber-Optic Towed Decoy, DBD is an electronic warfare device mounted on an aircraft that is connected to electronic warfare equipment via a fiber-optic cable.

To access the data contained in this document please email contactus@visiongain.com. Avoid missing out by staying informed – order our report now.

To find more Visiongain research reports on the cyber sector, click on the following links:

• Cloud Security Market Report 2024-2034
• Military Cyber Security Market Report 2024-2034
• Cyber Security Market Report 2023-2033
  
  

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About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

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