New York, USA, March 18, 2021 (GLOBE NEWSWIRE) -- According to a newly published report by Research Dive, the global signal intelligence (SIGINT) market is estimated to generate $17,362.9 million by 2027, and grow at a CAGR of 4.0% during the forecast period from 2020 to 2027. As per our analysts, the significantly increase in number of terrorist attacks in developed as well as developing countries is the major factor expected to accelerate the growth of the global signal intelligence market during the forecast period.
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Moreover, the increasingly growing presence of SIGINT in the public domain and rising adoption of SIGINT systems in multiple industries for improved security and protection is predicted to create huge growth opportunities for the global market by 2027. However, high cost associated with the deployment of signal intelligence systems is anticipated to hinder the market growth in the near future.
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Impact of COVID-19 on the Market
The COVID-19 outbreak around the world has progressively impacted the global signal intelligence (SIGINT) market. The massive growth of the market is majorly attributed to actionable effects of signal intelligence on public health efforts in order to control the COVID-19 outbreak. Besides, leading companies operating in the market are implementing various tactics such as launching insightful webinars, strategic partnerships, and others to obtain robust position in the global market. For instance, in July 2020, CRFS, a leading player in RF geolocation solutions, announced to have released a new series of webinars for educating and supporting those who are working on the electronic warfare. The webinar mainly focused on signal intelligence (SIGINT), military spectrum management, and counter drone technologies.
COMINT Segment to be Most Lucrative
By type, the COMINT segment is estimated to value for $9,041.7 million by 2027 and witness significant growth over the forecast period. The lucrative growth of this segment is mainly because COMINT is one of the significant tools or systems that helps militaries with real-time decision-making and also provides a strategic benefit on the battleground against opponents.
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Cyber Solutions Segment to Dominate the Industry
By solution, the cyber solutions segment is anticipated to surpass $3,608.0 million by 2027 and is predicted to subjugate the industry throughout the forecast period. The dominance of this segment can be attributed to the increased cyber-attacks from the threat actors such as hacktivists, script-kiddies, cybercriminals, cyber terrorists, and targeted intrusion.
North America Region to Witness Significant Growth
By region, the North America market for signal intelligence accounted for $5,195.1 million in 2019 and is expected to witness considerable growth by the end of 2027. The countries of the region are heavily investing in defense, which is major factor responsible for the significant growth of the region.
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Major Market Players
1. BAE Systems.
2. Thales Group
3. Northrop Grumman Corporation.
4. Lockheed Martin Corporation.
5. Raytheon Technologies Corporation
6. Elbit Systems Ltd.
7. General Dynamics Corporation
8. Rheinmetall AG
9. L3Harris Technologies, Inc.
10. Mercury Systems, Inc.
The players are adopting several strategies to acquire a leading position in the global industry. For instance, in April 2020, Abaco Systems, a global leader in open architecture rugged embedded systems entered into a partnership with DeepSig, a company that develops deep learning software to reinvent wireless communications, in order to demonstrate DeepSig’s OmniSIG software. This software is deployable on Abaco’s 3U VPX ecosystem that uses AI inferencing for signal identification & classification in signals intelligence applications.
Further, the report presents and outlines several aspects of these key players such as recent strategic moves, developments, product portfolio, business performance, and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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