The global military cyber security market, valued at US$9.8 billion in 2017, is projected to grow at a CAGR of 3.53% over the forecast period, to reach US$13.8 billion by 2027 and cumulatively value US$130.7 billion. The market consists of four categories. Network security, data security, identity and access, and cloud security. The market is expected to be dominated by network security, which will account for 38.5% of the market, followed by the data security and identity and access segments with shares of 25.6% and 19.3% respectively.
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Globally, countries are spending on technologies in order to secure internet protocols, improve capabilities to model the effects of cyber attacks, test software, and analyze vulnerabilities, as well as information system insider threat-detection models and mitigation technologies. Moreover, cyber attacks are now not only limited to nations but have extended to terrorist groups, organized crime, hackers, industrial spies, and foreign intelligence services. As such, the changing dynamics of cyber threats and increased demand for cyber weapons is expected to stimulate growth over the forecast period.
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