Governments all across the world view cyber security as a serious danger to national security. Numerous nations, including India, China, the United States, and others, are making significant investments to modernise, reform, and fortify their defence cyber security systems. The goal of the massive IT investments made by governments to embrace and integrate cutting-edge technologies like artificial intelligence (AI) and the internet of things (IoT) is to increase the security of military services and systems and to fortify the field of cyber security. As stated in a report released by Fortune Business InsightsTM, the defense cyber security market size is anticipated to reach USD 29.81 billion by 2028.
COVID-19 Pandemic Resulted in Declined Investments & Delayed Contracts but Increased Cyber Attacks
The established long-term agreements that businesses had with governments of different countries were impacted by the coronavirus outbreak. The pandemic-related delays, postponements, and contract cancellations have had a significant negative impact on the installation of cyber security systems. But, there has also been a rise in cyberattacks, which is expected to top 350 a month. The emphasis on fortifying the military communication systems of numerous nations and the cyber security arena is projected to expand as cyberattacks become more frequent. Rising international and transnational conflicts are also anticipated to accelerate defence modernization initiatives and increase demand for effective defence cyber security systems.
The Top 5 Firms in Military Cyber Security are as follows:
- Leidos Holdings Inc.
Leidos Holdings Inc., a leading information technology, aviation, defence, and biomedical research firm with headquarters in Virginia, U.S., collaborates closely with the U.S. Intelligence Community, the U.S. Department of Homeland Security, the U.S. Department of Defense, and other government agencies, and several civil U.S. government organisations. The business recorded almost $13.7 billion in yearly revenue for the fiscal year that ended on December 31, 2021. At nearly USD 1.65 billion, Leidos acquired the defence firm Dynetics in January 2020.
- Accenture
Accenture, a well-known Fortune Global 500 corporation with its headquarters in Ireland and a focus on IT consulting and services, recorded annual revenue of over USD 50.33 billion in 2021. It supports defence agencies with potent networking and communications technologies. Accenture successfully acquired Symantec’s 200-person cyber security services from Broadcom for USD 200 million in April 2020.
- IBM Corporation
The U.S. corporation has its headquarters in New York and offers consulting and hosting services. For 28 years running, it has produced the most U.S. patents of any company. IBM uses blockchain, AI, and hybrid cloud technologies to analyse insights for the defence industry. During the final quarter of 2021, it achieved annual revenues of about USD 16.70 billion.
- General Dynamics Corporation
This Fortune 100 company has its headquarters in Virginia, United States, and its inventory includes M1 Abrams tanks, guided-missile destroyers of the Arleigh Burke class, nuclear-powered submarines of the Columbia and Virginia classes, Stryker armoured fighting vehicles, and Gulfstream business aircraft. The business said in December 2020 that the U.S. Army has awarded its affiliate General Dynamics Land Systems a contract for M1A2 SEPv3 Abrams main battle tanks valued USD 4.6 billion.
- BAE Systems PLC
The multinational British security, weapons, and intelligence, The aerospace corporation operates in a number of other markets, including Sweden, Oman, Qatar, Turkey, Saudi Arabia, India, Canada, Australia, and others. It is one of the six top suppliers to the U.S. Department of Defense. In November 2020, the MoD awarded the business a 2.4 billion dollar, 20-year contract for ammunition. The agreement replaces the 2008 MASS deal and calls for the production of 39 different types of ammunition for the American armed forces. In 2021, BAE Systems had a yearly revenue of 19.52 billion USD.
Leading Countries Stress Use of Modern Technologies for Strong Military Solutions –
The deployment of cutting-edge technologies by the military industry is hastening the progress of defence cyber security. The need for contemporary military cyber security systems is fueled by the increased public awareness of cyber security.
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