Cyber Weapon Market - Global Industry Analysis and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 09/29/2015 -- According to a new market report published by Transparency Market Research "Cyber Weapon Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021," global cyber weapon market was valued at USD 390.00 billion in 2014, growing at a CAGR of 4.4% from 2015 to 2021 to account for USD 521.87 billion in 2021.
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A cyber weapon is an information technology (IT)-based system consisting of hardware, software, and communication medium that is designed to damage operations or structures of other information technology-based system. Cyber weapons are also described as malicious programs or codes used by military defense and other spy organizations to violate confidentiality of target systems. Hackers and programmers use zero-day exploits or vulnerabilities in software and weaponize them to develop cyber weapons. These weapons are used against enemy targets when required. Cyber weapons are primarily developed to deal with cyber espionage, data theft, and sabotage of enemy systems. Offensive cyber weapons are also capable of bypassing cybersecurity of target systems by launching sophisticated attacks.
Any system connected to the Internet is vulnerable to a cyber-attack. Rising security concern about critical infrastructures, which primarily includes national defense systems, communication networks, and industrial control systems, is mainly driving growth of the cyber weapon market. Furthermore, emergence of cyber as the new domain for warfare after land, air, space, and sea is boosting development of cyber weapons and advanced cyber warfare techniques. However, rising government regulations regarding the usage of cyber weapons in controlled environment is restraining growth of this market.
The cyber weapon market is expected to expand during the forecast period due to rising threats of cyber-attacks, which in turn is leading to development of defensive cyber weapons. Furthermore, focus on developing offensive cyber capabilities by various governments, spy organizations, and intelligence agencies to counter cyber-attacks is aiding growth of the offensive type cyber weapon market. However, rising government regulations on non-proliferation of cyber weapons to prevent miss-utilization of cyber weapons is restraining the growth of this market.
Defensive cyber weapon held the highest market share in terms of revenue accounting to USD 287.98 billion in 2015 and is expected to maintain its dominance during the forecast period. Growth of defensive cyber weapon segment is attributed to increasing investment by governments across the globe to secure their national defense networks. Additionally, rising need for procuring defensive capabilities in critical infrastructure such as industrial control systems, military defense, aerospace, banking and financial, and automated transportations systems is expected to drive growth of the defensive type cyber weapon market during the forecast period. Furthermore, need for developing resilient systems to counter cyber-attacks and expansion of traditional arms manufacturing companies into cybersecurity business is driving the defensive cyber weapon market.
By application, national defense system led the cyber weapon market in 2015. Growing importance about development of cyber capabilities including both offensive and defensive cyber tools by national defense systems in countries such as the U.S. and China is driving growth of this market. Additionally, rising risk of cyber threats such as hacking and disruption of operations is leading to increasing investment by governments to develop resilient and robust defense systems, thereby fueling market growth.
Geographically, North America led the cyber weapon market in 2015 and the region is expected to continue its dominance in 2021. Emergence of cyber as the new domain for warfare and recent spur of cyber-attacks on critical infrastructures in the region is fueling demand for cyber weapons. Additionally, incorporation of cyber units and training of cyber professionals or cyber army in this region is boosting the market growth.
Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of cyber weapon industry. Major market participants profiled in this report include Lockheed Martin Corporation, The Boeing Company, BAE Systems plc, Raytheon Company, General Dynamics Corporation, Northrop Grumman Corporation and Airbus Group SE among others.
The report studies the global cyber weapon market, and provides estimates in terms of revenue (USD Billion) from 2015 to 2021. Market estimates on the basis of type and application for each region have also been provided. The market has been segmented as follows:
Global Cyber Weapon Market: By Type
Global Cyber Weapon Market: By Application
National Defense System
Industrial Control System
Financial and Banking
Smart Power Grid
Air Traffic Control
Automated Transportation System
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
Global Cyber Weapon Market: By Geography
Rest of Europe
Rest of Asia Pacific
Rest of the World
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