New York, USA, June 07, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global signals intelligence (SIGINT) market is anticipated to generate a revenue of $20,013.20 million and grow at a CAGR of 4.5% over the estimated timeframe from 2022 to 2030.
As per our analysts, with the increasing terrorism activities, rising defense budgets of major countries, and the replacement of an aging defense system, the signals intelligence (SIGINT) market is expected to witness prominent growth during the estimated period. Besides, the increasing investments made by the public, private, and government organizations in the development and innovation of signals intelligence for the defense sector are further expected to amplify the growth of the market during the analysis timeframe. Moreover, the increasing demand for cyber intelligence is predicted to create huge growth opportunities for the market during the forecast period. However, the high cost of installing a signals intelligence system may impede the growth of the market throughout the estimated period.
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Segments of the Signals intelligence (SIGINT) Market
The report has divided the market into segments based on type, application, and region.
Type: Communications Intelligence (COMINT) sub-segment to be Most Lucrative
The communications intelligence (COMINT) sub-segment accounted for $6,189.10 million and is expected to continue a steady growth during the analysis period. The increasing adoption of emerging technologies by defense departments all across the globe is expected to propel the growth of the market sub-segment during the estimated period.
Application: Naval Sub-Segment to be Most Productive
The naval signal intelligence sub-segment is expected to generate a revenue of $4,528.30 million and grow at a CAGR of 4.8% during the analysis period. The increasing use of naval signal intelligence to identify and interpret signals to create combat, and take tactical intelligence decisions, is predicted to fuel the growth of the market sub-segment during the forecast period.
Region: North America Region to Have Expansive Growth Opportunities
The North America region of the signals intelligence (SIGINT) market is anticipated to garner a revenue of $6,206.1 million over the forecast timeframe. This is mainly due to the heavy investments made by the developed countries in the defense sector. In addition, the strong existence of leading players in this region and their heavy spending on research is expected to thrive the regional growth of the market during the analysis period.
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Covid-19 Impact on the Signals intelligence (SIGINT) Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the signals intelligence (SIGINT) market. This is mainly due to the increase in government surveillance tactics around the world primarily with the use of cell phone applications. Furthermore, the increasing release of a series of webinars by leading players to support and educate those who are working on electronic warfare is expected to boost the growth of the market during the period of crisis.
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Key Players of the Signals intelligence (SIGINT) Market
The major players in the signals intelligence (SIGINT) market include
- Elbit Systems Ltd.
- Lockheed Martin Corporation
- Rheinmetall AG
- Raytheon Technologies Corporation
- General Dynamics Corporation
- Thales Group
- L3Harris Technologies, Inc.
- Northrop Grumman Corporation.
- Mercury Systems, Inc.
- BAE Systems., and many more.
These players are working on the development of new business strategies such as collaborations and partnerships, mergers and acquisitions, and product development to gain a leading position in the global industry. – Get Industrial Latest Update here@ https://www.researchdive.com/purchase-enquiry/5478
For instance, in March 2022, FlexRadio Systems, a leading manufacturer and provider of software-defined radios and accessories for consumers, collaborated with BAE Systems, a renowned British multinational arms, security, and aerospace company based in London. With this collaboration, the companies aimed to provide high-frequency software-equipped radios for the Airborne High-Frequency Radio Modernization program of the U.S.
Further, the report also summarizes other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the leading strategic developments.
More about Signal Intelligence (SIGINT) Market:
- Strategic Partnerships and Product Launches by Market Players such as BAE Systems, Elbit Systems, and Others to Foster the Growth of the Global Signals Intelligence (SIGINT) Market
- Why is Signals Intelligence (SIGINT) the Backbone of Military Strategies?
- The Role of Signals Intelligence in Safeguarding your Nation
