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Defence cyber security market controlled by Lockheed Martin and BAE Systems

Press Release   •   Jul 24, 2013 15:02 BST

The defence cyber security market has been forecast to increase at a compound annual growth rate (CAGR) of 4.92% through to 2016, driven by the increase in threats of cyber-attacks and the introduction of solutions specific to defense and security.

The proliferation of cyber attacks over the past decade has meant that many companies and government organisations are now fully aware of the dangers exposed to them through under-protected networks or from individual negligence.

Defense companies work at the tip of the cyber spear, attracting network attacks from advanced threats that run from trans-national criminals and terrorist groups to hostile nation states.

Today's advanced threats are led not just by individuals but by organisations and nation-states, often with better technology than their targets. Cyber threats are smarter, more persistent, and more focused on high-value assets.

According to a recent report, 'Global Defense Cyber Security Market 2012-2016,' the growth of the internet has meant that cyber attacks represent a borderless challenge to security operators, who must now find solutions that are successful within the entire cyber domain rather than a specific tangible location

One of the major trends supporting growth within the defence cyber security market is the introduction of defence-specific security solutions. Some vendors such as Lockheed Martin and BAE Systems are introducing cyber security solutions which are specifically developed for the defense sector.

This is encouraging defense organisations in developed and developing regions to adopt such specific solutions to provide better dedicated security for their information systems.

With budget cuts being implemented, many countries are looking to channel their resources towards certain areas of military spending. For example the US is looking to phase out tanks and other major weapons programs and divert its spending towards IT and cyber security programs.

Key players currently dominating the defence cyber security market include BAE Systems plc, General Dynamics Corp., Lockheed Martin Corp., and Raytheon Co.

For more information on the defence cyber security market, see the latest research: Cyber Security Market Research

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