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Major Investments Expected in Military Cybersecurity Market

The global military cybersecurity market is expected to exceed $16 billion by 2023 according to projections from Frost & Sullivan.

Cybersecurity can be a problem for anyone making purchases over the internet, but it is also an area of concern for military computer and communications equipment users. Market forecaster Frost & Sullivan, in their recent analysis “Global Military Cybersecurity Market, Forecast to 2023,” expects the global military cybersecurity market to grow to more than $16 billion by 2023. The forecast predicts a compound annual growth rate (CAGR) of 3.6% from 2018 to 2023.

“Militaries across the globe are budgeting for and pursuing the development of new enabling, next-generation technologies for cybersecurity,” said Ryan Pinto, Research Analyst, Frost & Sullivan. “These technologies will open up significant growth opportunities by improving the speed and accuracy of logistics battlefield planning, increasing autonomous functionality of systems, aiding decision-making, lowering overhead costs, and enabling less soldier risk.”

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TAGS: Defense
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