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Global Cyber Weapon Market Driven by Rising Threat of Terrorism, says TMR

Posted on Jun 14, 2017

The global cyber weapon market is dominated by companies such as Lockheed Martin Corporation, BAE Systems Plc, Northrop Grumman Corporation, Raytheon Company, The Boeing Company, and General Dynamics Corporation. The dominance of North American companies is likely to be a prominent feature of the global cyber weapon market in the coming years due to the technological leadership held by countries such as the U.S. The prominent role of the U.S. in global economics is likely to sustain a cyber weapon market centered on North America. However, rising local leaders in Asia Pacific economies such as China could also pose a significant challenge in the global cyber weapon market in the coming years.

According to Transparency Market Research (TMR), the global cyber weapon market is expected to exhibit a steady CAGR of 4.4% between 2015 and 2021. The market was valued at more than US$400 bn in 2016 and is likely to rise to a valuation of US$521.8 bn by the end of 2021.

cyber-weapon-market

Defensive Cyber Weapons Likely to Lead Demand from Global Market

By product type, the global cyber weapon market is bifurcated into offensive and defensive cyber weapons. Currently, the offensive cyber weapon market is a nascent category, due largely to their primarily illegal use. Defensive weapons lead demand from the global cyber weapon market and are likely to retain a dominant position in the coming years due to their growing economic importance to countries across the development spectrum. The mounting intricacy required in defensive cyber weapons is likely to be a key direction for players in the global cyber weapon market. Defensive cyber weapons accounted for close to 75% of the global cyber weapon market around the middle of this decade and are likely to retain similar dominance through to 2021.

Geographically, North America is likely to retain its current position of clear dominance in the global cyber weapon market. The high concentration of globally important economic and scientific institutions in North American countries such as the U.S. has been vital for the growth of the North America cyber weapon market. The vital economic importance of North America has also led to consistent government support in developed regions, which has propelled the entry of new players in the North America cyber weapon market.

Increasing Threat from Cyber Attacks Leads to Consistent Demand

The primary driver for the global cyber weapon market is the mounting threat of cyber channels for unlawful ends. The rising threat of terrorism has also become a key driver for the global cyber weapon market, as the highly efficient and dependable digital channels are being used in rising volume by terrorist groups across the world. The inevitable reliance of government agencies on digital means for information storage and retrieval is thus likely to ensure steady growth of the global cyber weapon market in the coming years.

The steady economic development in East and Southeast Asia is likely to remain a key driver for the global cyber weapon market in the coming years. Countries such as India, China, and Japan have become key development centers over the last few decades and have adopted digital means on an increasing basis, necessitating rising demand from the cyber weapon market. China is likely to lead the charge of the Asia Pacific cyber weapon market in the coming years due to the widespread development of digital infrastructure in the booming economy.

The information in this preview comes from a TMR report titled ‘Cyber Weapon Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.’

The global cyber weapon market is segmented as follows:

Global Cyber Weapon Market: By Type

  • Defensive
  • Offensive

Global Cyber Weapon Market: By Application 

  • National Defense System
  • Communication Network
  • Industrial Control System
  • Financial and Banking
  • Smart Power Grid
  • Air Traffic Control
  • Automated Transportation System
  • Hospital

Global Cyber Weapon Market: By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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