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Hackers create opportunity for military firms
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For U.S. military firms, the latest revelations of highly sophisticated hacker attacks on Google Inc. are highlighting a new reality, and a potentially lucrative business: The battlefield is shifting to cyberspace.
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The military industry, having already done extensive work protecting federal government computers, may be in a good position in the emerging market that could exceed $100 billion in revenue within the next decade, analysts said.
It may have little choice. Pentagon spending on weapons is expected to slow, leaving military firms scrambling for new business.
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The federal government is expected to set aside $8.3 billion this year for protecting its computers from hackers, up 60% from just four years ago.
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federal spending on cyber-security is expected to grow 8.1% annually over the next four years, according to Input, a Reston, Va., government contracting research firm.
“That’s significant growth, given the budget pressure that the government is under,” said John Slye, principal analyst at Input.
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And in December, Northrop created a cyber-security research consortium with Carnegie Mellon University, the Massachusetts Institute of Technology and Purdue University as a way to tap new technologies and recruit emerging talent.
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Defense rival Lockheed Martin Corp. took a different route assembling a cyber-security alliance with tech companies, including Microsoft Corp, Cisco Systems Inc. and Dell Inc., to collaborate on developing measures against hackers.
In November, the nation’s largest military contractor finished a 5,000-square-foot facility in Gaithersburg, Md., that’s dedicated to cyber-security research. Lockheed has also recruited Lee Holcomb, former chief technology officer for the Department of Homeland Security, to head the company’s cyber-security initiatives.
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“Nobody is building aircraft carriers anymore,” said James Mulvenon, director of the Center for Intelligence Research and Analysis at Defense Group Inc., a national-security firm. “It looks like, from now on, the big money is in cyber space.”
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Public Diplomacy 2.0: Where the U.S. Government Meets “New Media”
Posted from Diigo. The rest of my favorite links are here.