Zion Market Research has published a new report titled “Cyber Weapon Market (Defensive and Offensive) for National Defense System, Air Traffic Control, Hospital, Automated Transportation System, Industrial Control System, Communication Network, Smart Power Grid and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, global cyber weapon market was valued at around USD 406.77 billion in 2016 and is expected to reach approximately USD 524.27 billion by 2022, growing at a CAGR of slightly above 4.32% between 2017 and 2022.
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Cyber weapon market is witnessing a rapid growth over the forecast period due to rising demand from various application sectors such as government organizations, financial systems, communication networks, military, public utilities, and essential services (banking and insurance). Cyber professionals and hackers focus on developing cyber capabilities in order to infiltrate into enemy networks. Cyber weapons are broadly classified into offensive and defensive weapons. Cyber weapon market is majorly benefitted by defensive weapon market.
Cyber weapon market is primarily driven by increasing usage of the internet into different application areas. The market demand is highly immense due to defensive usage by law enforcement officials and offensive usage of cyber weapons by cyber criminals. Growing demand to prevent financial losses by the opponent extensively contributes to cyber weapon demand. Private organizations and governments are focusing on securing their critical infrastructure which in turn flourishes the growth of cyber weapon market. On the other hand, the major challenges to the cyber weapons market are regulations on the development and usage of cyber weapons as it causes mass destruction and creates disharmony worldwide.
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With an aim of capitalizing, several traditional weapons manufacturing companies are expanding their businesses in the cyber security segment which will fuel the market growth in the long run. The market is also expected to experience noteworthy growth due to increasing demand for security across critical infrastructure and utilities. Complete security of networks drives the demand for offensive cyber techniques.
Based on the type, cyber weapon market is fragmented into defensive and offensive weapons. By application, the market is bifurcated into national defense system, air traffic control, hospital, smart power grid communication network, industrial control system and others. North America is closely followed by Asia Pacific due to its Asia Pacific owing to its augmented usage in defense, aerospace and intelligence units. North America is anticipated to account for a significant share in the cyber weapon market on account of high usage in aerospace, defense, and intelligence units.
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Some of the key players in cyber weapon markets are Boeing Company, Lockheed Martin Corporation, Cisco Systems, McAfee, General Dynamics Corporation, BAE Systems plc, Symantec Corporation, Northrop Grumman Corporation, Raytheon Company, General Dynamics Corporation, BAE System plc, Avast software and AVG technologies among others.
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