Sarasota, FL, March 30, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cyber Weapon Market (Defensive and Offensive) for National Defense System, Air Traffic Control, Hospital, Automated Transportation System, Industrial Control System, Communication Network, Smart Power Grid and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022” . According to the report, global cyber weapon market was valued at around USD 406.77 billion in 2016 and is expected to reach approximately USD 524.27 billion by 2022, growing at a CAGR of slightly above 4.32% between 2017 and 2022.
Cyber weapon market is witnessing a rapid growth over the forecast period due to rising demand from various application sectors such as government organizations, financial systems, communication networks, military, public utilities, and essential services (banking and insurance). Cyber professionals and hackers focus on developing cyber capabilities in order to infiltrate into enemy networks. Cyber weapons are broadly classified into offensive and defensive weapons. Cyber weapon market is majorly benefitted by defensive weapon market.
Browse through 29 Market Tables and 30 Figures spread through 110 Pages and in-depth TOC on “Global Cyber Weapon Market by Type, Size & Share- Forecast 2016 – 2022”.
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Cyber weapon market is primarily driven by increasing usage of the internet into different application areas. The market demand is highly immense due to defensive usage by law enforcement officials and offensive usage of cyber weapons by cyber criminals. Growing demand to prevent financial losses by the opponent extensively contributes to cyber weapon demand. Private organizations and governments are focusing on securing their critical infrastructure which in turn flourishes the growth of cyber weapon market. On the other hand, the major challenges to the cyber weapons market are regulations on the development and usage of cyber weapons as it causes mass destruction and creates disharmony worldwide.
With an aim of capitalizing, several traditional weapons manufacturing companies are expanding their businesses in the cyber security segment which will fuel the market growth in the long run. The market is also expected to experience noteworthy growth due to increasing demand for security across critical infrastructure and utilities. Complete security of networks drives the demand for offensive cyber techniques.
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Based on the type, cyber weapon market is fragmented into defensive and offensive weapons. By application, the market is bifurcated into national defense system, air traffic control, hospital, smart power grid communication network, industrial control system and others.
North American governments are proactively investing in the development of advanced cyber weapons to protect their critical utilities. Growing number of cyber-attacks across different verticals in North America region have led the high adoption of cyber security solutions. In 2015, the data transmission networks of Cornell University and University of Hawaii were hacked. As a result, North America dominated the global cyber weapons market with the majority of the share in 2015. It accounted for around 35% share of the overall market. North America was closely followed by Asia Pacific in 2015. It is another major regional market of the cyber weapon due to increasing usage of cyber weapons in defense, aerospace, and intelligence units. Emerging economies such as India, China, North Korea, South Korea, Australia, and Japan would drive the immense sales of cyber weapon market in up comings years.
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Furthermore, China is increasing investment for the development of advanced cyber warfare technique. This will aid the cyber weapon market’s expansion in Asia Pacific. Latin America and the Middle East and Africa are likely to have considerable growth for cyber weapon market during the estimated five years.
Latin America has a high percentage of banking fraud and thefts, phishing scam and spam which is impacting nation’s critical infrastructure. Countries like Brazil, Chile, and Peru have taken up cyber weapon security as political agendas. This has created pressure on security organizations to diversify their portfolios. Middle East & Africa are also expected to grow in coming years as a main revenue source of MEA is oil and gas industry. Hence, after the number of targeted cyber attack on oil & gas industry, the government of MEA has increased their annual budget for the cyber security.
Some of the key players in cyber weapon markets are Boeing Company, Lockheed Martin Corporation, Cisco Systems, McAfee, General Dynamics Corporation, BAE Systems plc, Symantec Corporation, Northrop Grumman Corporation, Raytheon Company, General Dynamics Corporation, BAE System plc, Avast software and AVG technologies among others.
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The report segment cyber weapon market as follows: Cyber Weapon Market: Type Segment Analysis
- Defensive
- Offensive
Cyber Weapon Market: Application Segment Analysis
- National Defense System
- Air Traffic Control
- Hospital
- Automated Transportation System
- Industrial Control System
- Communication network
- Smart power grid
- Others
Cyber Weapon Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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