Big Cybersecurity Budget Means Big Business for Defense Contractors

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Big Cybersecurity Budget Means Big Business for Defense Contractors

Author: TREVORH | Published on November 3, 2015 | Views: 963

Following last month’s $1billion contract awarded to Raytheon from the Homeland Security Department, the Pentagon is now taking bids from defense contractors to help protect against the digital future.

Big industry names such as Raytheon Co., Lockheed Martin Corp., and General Dynamics Corp. are expected to be at the forefront, competing for a contract valued at up to $460 million.

While many of these large companies have felt the effects of budget cuts elsewhere, with the government’s dedication of $14 billion to the cyber budget, they expect cyber contracts to play an important role to their business.

And that’s not speculation. Over the past 2 years, many these major defense contractors have seen big  growth in the cybersecurity work that they have been awarded. Northrup Grumman, for example, has seen their 2014 contracts value $430.4 million, compared to just $159.4 million in 2012.

Deon Viergutz, vice president of cyber solutions for Lockheed Martin Information Systems & Global Solutions noted, “Demand is going to continue”.

Those who currently work in cybersecurity or those looking to start a new a career should find plenty of jobs available to them. While the Washington D.C., Maryland, and Virginia areas typically dominate the cyber industry, cyber security professionals across the country should expect to benefit from the influx of budgetary spending.

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