Military cybersecurity market to grow by $17.9 billion through 2028: report
NewsSeptember 16, 2024
NEW YORK, New York. The global military cybersecurity market will grow by $17.9 billion between 2024 and 2028, driven by the increasing adoption of cloud-based services and artificial intelligence (AI), a new report predicts.
The report, from Technavio, estimates a compound annual growth rate (CAGR) of 11.53%. AI and machine learning are identified as key growth drivers, particularly in developed countries with advanced infrastructure. These technologies are being integrated to improve cybersecurity by reducing human error and enhancing threat detection, the report states.
Challenges to the market include system integration and interoperability issues within military IT infrastructures, particularly as defense agencies implement new technologies, the statement adds. The report highlights key players in the market, including Airbus SE, Lockheed Martin Corp., Northrop Grumman Corp., and Booz Allen Hamilton Holding Corp.
