Cyber Warfare Market Size, Share, Opportunities, And Trends By Type (Viruses, Malware, Hacking, Data Theft, Ransomware, Others), By Industry Vertical (Government And Defense, Aerospace, BFSI, Corporate, Others), And By Geography - Forecasts From 2023 To 2028

The cyber warfare market is projected to show steady growth during the forecast period.

Cyberwarfare is the act of computerized and virtual attack initiated by an organization or a nation with the intention to target and cause substantial damage and harm to another nation or its military or its government. These attacks have the potential to wreak havoc on the critical functioning of the country to the extent that they may cause infrastructure loss or loss of life. One of the earliest cyberwarfare incidents that helped the world understand and perceive the potential of cyberwarfare was the Stuxnet Worm attack in 2010. It was a highly developed malware attack on the Iranian nuclear program targeting the data control systems. With advancements in technology and the evolution of computer software, the intensity and impact of cyberwarfare attacks have seen growth over the last decade. As it is expected that over the next few decades, technology will continue to expand its horizon, it is inevitable that its application in cyber warfare activities shall be colossal. Even during the COVID-19 lockdown, there have been registered instances of cyberwarfare activities. This demonstrates that the war ideology of the human world is shifting towards biological and cyberwarfare. Therefore, the cyberwarfare market is expected to experience impressive advancement in the upcoming years.

The rise in cyberattacks is fueling growth in the market for Cyberwarfare market. For instance, in January 2023, the Malaysian Government discovered a bunch of cyberattacks at their initial stages and prevented them from being successful. These attacks were believed to be the action of an unidentified hacker community trying to extract confidential information from the national defence network of Malaysia. Additionally, throughout the initial months of 2022, amidst the war situation between both countries, Russia and Ukraine launches a series of cyberattacks against each other frequently. Various departments of the target country such as electricity, justice, and cabinet were attacked. These attacks were stopped by both countries in the latter half of 2022.

The investments and developments in cyber security forces act as a detriment to the growth of the cyber warfare market.

With the increasing threat of cyberwarfare attacks in different forms such as malware, hacking and theft, viruses, etc; various nations across the world have simultaneously started investing in strengthening their cyber security and defense. Many companies such as IBM, Imperva, and Palo Alto Networks offer cyber security solutions to organizations and nations all over the world. With efficient and effective research and investment into the cyber security field, countries and organizations can come up with concrete and impenetrable cybersecurity solutions to battle against cyberwarfare attacks and make them ineffective. This could hinder the expansion of the cyber warfare market if the attacking organization or nation is not able to come up with new developments to break through the cyber security measures.

Recent Developments

• In December 2022, BAE Systems announced that it will be collaborating with Rolls Royce Company to develop an engine for a new fighter jet, which is expected to have advanced cyber warfare and AI capabilities. This project will be funded by the UK and its allies, Italy and Japan.
• In February 2023, Ions Trading Technologies, a financial data management company, fell victim to a cyberattack. This affected the functioning of the derivatives market and some of the company’s clients were forced to finish their data processes manually.

Asia Pacific region contains a significant opportunity for expansion of the Cyberwarfare market with China taking the lead in this region.

According to the World Data Bank, countries in the Asia-Pacific region like China, North Korea, India, and Vietnam are among the top 15 countries with the largest number of hackers. Given that governments across the world have started investing in improving and increasing their cyber power and cyber security, the presence of a hacker community in the country acts as a catalyst in reaching their cyber goals faster. In many classifications of cyber power, China holds the top rank and is continuing to invest in and develop its cyber army. China and North Korea are known for cyberwarfare attacks causing damage to the target nation. Keeping these factors in mind, it can be said the Asia Pacific region has a great potential to hold a large market share of the cyberwarfare world in the upcoming years.

Cyber Warfare Market Scope:

Key Market Segments:

• By Type
  • Viruses
  • Malware
  • Hacking
  • Data theft
  • Ransomware
  • Others
• By Industry Vertical
  • Government and Defense
  • Aerospace
  • BFSI
  • Corporate
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Others