sb-nz logo
Story image

Cyber warfare market to be worth $120b by 2025 as national security concerns intensify

14 Feb 2018

The global cyber warfare market may be worth S$120 billion by 2025 and Asia Pacific will be the fastest-growing region in the world, according to a report from Grand View Research.

The market growth is being driven by concern about the ‘catastrophic nature’ of cyber warfare and national security, both of which are being plagued by cyber attackers intent on disrupting economic growth and stealing defense force IP.

The report says that cyberspace disruption has gone as far as to outstrip the focus on terrorism, particularly as cyber attackers go after critical infrastructure.

The Asia Pacific region is expected to reach a 21.1% compound annual growth rate between 2014 and 2025, according to the Cyber Warfare Market Size & Trend Analysis Report By Application (Defense, Government, Aerospace, Homeland, Corporate), By Region, And Segment Forecasts, 2014 – 2025 report.

This growth is attributed to factors such as regulatory reforms by governments to strengthen cyber defense posture, as well as rapid economic growth in developing countries and technological advancements.

“Increasing cyber-attacks have emerged as a vital factor, considered for the defense budget allocation by various nations’ government, thereby driving the market over the forecast period,” Grand View Research says.

North America will hold a ‘dominant share’ in the market by 2025, and Europe won’t be far behind.

Most of the growth will come from the defense application segment, which will retain its market dominance. The government and corporate application segments will also grow 19.1% and 19.8% respectively.

“In light of the growing cyber incidence, increased cybersecurity spending is proposed, and warfare units are established by the governments aimed to protect nations’ sensitive information and deter potential of the cyber threat. Moreover, governments have developed more sophisticated cyber military capabilities to mitigate the emerging threats.”

The report references the Australian Signals Directorate (ASD), which reported an incident in which an Adelaide Defense subcontractor experienced a data breach last year.

“The mystery hacker named 'ATP ALF' stole information about the programs such as the C-130 Hercules transport plane, F-35 Joint Strike Fighter project, and the P-8 Poseidon maritime surveillance aircraft project. The hacker managed to access the system for a month before it was detected in November 2016,” Grand View Research says.

Major players in the cyber warfare space include BAE Systems, Boeing, General Dynamic, Lockheed Martin and Raytheon.

Other market players are increasing market presence by expanding their product portfolios through R&D and technology acquisition.

Story image
APAC organisations struggle to find balance between digital adoption and cybersecurity
Organisations in the Asia Pacific (APAC) region are significantly concerned about security threats, but nevertheless are looking to advance operations through digital adoption.More
Story image
Video: 10 Minute IT Jams - The benefits of converged cloud security
Today, Techday speaks to Forcepoint senior sales engineer and solutions architect Matthew Bant, who discusses the benefits of a converged cloud security model, and the pandemic's role in complicating the security stack in organisations around the world.More
Story image
Gartner: By 2023, 65% of the world will have personal data covered under modern privacy regulations
“Security and risk management (SRM) leaders need to help their organisation adapt their personal data handling practices without exposing the business to loss."More
Story image
Report: 151% increase in DDoS attacks compared to 2019
It comes as the security risk profile for organisations around the world increased in large part thanks to the COVID-19 pandemic, forcing greater reliance on cloud technology and thrusting digital laggards into quick and unsecured migrations.More
Story image
The importance of selecting a secure SD-WAN solution
It’s essential to adopt a secure SD-WAN solution to avoid the risks that an unsecured SD-WAN solution can introduce, writes Wavelink managing director Ilan Rubin.More
Story image
No slowing for collab-tech as Kiwis embrace hybrid working
Technology investment and adoption is a top focus for New Zealand firms post-COVID-19, new Poly research reveals.More