Increases in global spending on cyber defense are a boon for cyber security providers. Raytheon (NYSE:RTN) is strategically positioned to capitalize on government and large-cap business cybersecurity expenditures. RTN’s Forcepoint and IIS divisions are preparing for long-term growth in the global cybersecurity market. On the 25th of May, the GDPR – General Data Protection Regulations – goes into effect in the European Union. Information technology professionals believe similar regulations are coming to the United States and other countries around the world. The enactment of the GDPR has fueled growth in the European cyber defense market, and similar regulations imposed globally would be a significant tailwind for cyber security providers.
In addition to government regulations, organizations must take proactive measures to protect themselves from the growing threat posed by cyber attackers. Social engineering tactics such as phishing techniques and fraudulent emails are only a couple of ways network hackers are making life difficult for security professionals. Cyber attackers are improving the sophistication and frequency of network hacks, making RTN’s SECaaS – security as a service – offerings even more critical.
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