The global military cybersecurity market is expected to reach $13.8bn in value by 2027, according to a report by Strategic Defence Intelligence (SDI).

Titled ‘The Global Military Cybersecurity Market 2017-2027’, the report anticipates the market to witness a compounded annual growth rate (CAGR) of 3.53% over the ten-year forecast period, growing from $9.8bn in 2017.

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The cumulative market value during the forecast period is estimated to be $130.7bn, driven majorly by North America, followed by Asia Pacific and Europe.

“The cumulative market value during the forecast period is estimated to be $130.7bn.”

Ongoing and future procurements of cybersecurity systems are expected to make North America sustain its biggest market share. This is estimated to be 62.6%. North America’s cumulative expenditure on cybersecurity systems during the forecast period is estimated to be $81.8bn.

Asia Pacific and Europe are expected to have global market shares of 14.9% and 11.8% respectively. Another key market is anticipated to be the Middle East, which is expected to have a market share of 7.6% during the forecast period.

Latin American and African regions are expected to account for the remaining share.

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The highest spending is expected to be in the network security segment at 38.5% given the increase in cyber attacks on military networks, followed by data security systems at 25.6%, identity and access at 19.3%, and Cloud protection at 16.6%.