Mary-Louise Hoffman
A Transparency Market Research report says worldwide cyber weapons could grow into a $521.9 billion market, largely because of government organizations’ efforts to secure critical infrastructure assets.
The market intelligence firm said Tuesday defense and intelligence agencies use cyber weapons to deal with adversaries who conduct espionage, data theft and information technology sabotage activities.
Defense cyber weapons generated nearly $288 billion in sales during 2015 and the segment’s growth is driven by increased government spending on tools designed to protect industrial control systems, military defense and aerospace, financial and transportation systems, the report states.
Transparency Market Research also forecasts efforts of the U.S. and China to build defensive and offensive cyberspace technologies to help drive the market.
The report includes information about industry players such as Airbus, Boeing, BAE Systems, General Dynamics, Northrop Grumman and Raytheon.
