New York, USA, Dec. 28, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global communication intelligence (COMINT) market is expected to garner a revenue of $ 12,930.3 million and rise at a CAGR of 6.06% during the estimated timeframe from 2022 to 2031.
As per our analysts, with the increasing requirement for confidentiality and security of military communications in the defense industry, the communication intelligence (COMINT) market is predicted to observe prominent growth during the forecast timeframe. Besides, the increasing demand for protecting military satellites from cyber-attacks is further expected to bolster the growth of the market over the estimated period. Moreover, the increasing implementation of wireless communication technology in the defense sector is expected to create huge growth opportunities throughout the analysis period. However, the high cost involved with the deployment of communication intelligence (COMINT) may impede the growth of the market over the forecast period.
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Segments of the Communication Intelligence (COMINT) Market
The report has divided the market into segments based on mobility, platform, and region.
Mobility: Fixed Sub-Segment to be Most Profitable
The fixed sub-segment is expected to hold the maximum share of the market during the estimated timeframe. This is mainly because of the rising demand for effective warning systems for armored fighting vehicles, ships, and aircraft to survive on the modern battlefield. Moreover, the growing demand for innovative security solutions, rising national security investment spending, and significant technological advancements are expected to foster the growth of the market sub-segment over the forecast period.
Platform: Ground Sub-Segment to be Most Productive
The ground sub-segment is predicted to hold the highest share of the market throughout the analysis period. The increasing usage of communication intelligence on battlefields for tracking down radio sites, intercepting enemy radar signals, and monitoring radio traffic is predicted to upsurge the growth of the market sub-segment during the estimated timeframe.
North America Region to Have Wide Growth Opportunities
The North America region of the communication intelligence (COMINT) market is projected to grow at a considerable CAGR throughout the forecast period. This is mainly because of the increasing adoption of new technologies by the defense sector of this region. Furthermore, the rising investment in the R&D projects and the replacement of obsolete technology by the next generation is expected to drive the regional growth of the market during the estimated timeframe.
Covid-19 Impact on the Communication Intelligence (COMINT) Market
The outbreak of the Covid-19 pandemic has had a negative impact on the communication intelligence (COMINT) market. During the pandemic, the supply chain disruptions and closure of manufacturing plants have lowered the demand for military equipment manufacturers in the defense sector. Moreover, the economic slowdown across various countries has further affected the growth of the market during the period of crisis.
Key Players of the Market
The major players of the communication intelligence (COMINT) market include
- L3Harris Technologies, Inc.
- Thales Group
- BAE Systems
- Northrop Grumman Corporation
- Elbit Systems Ltd.
- General Dynamics Corporation
- Rheinmetall AG
- Raytheon Company
- HENSOLDT
- Lockheed Martin Corporation
- Avantix SAS
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in October 2022, Lockheed Martin Corporation, an American aerospace, arms, defense, information security, and technology corporation announced its collaboration with Red Hat, Inc., a leading American software company that provides open-source software products to enterprises. With this collaboration, the companies aimed to support U.S. national security missions by adopting, applying, and standardizing AI technologies in geographically constrained environments.
Further, the report also presents other important aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
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More about Communication Intelligence (COMINT) Market:
- What are the Key Activities, Capabilities, and Importance of Communication Intelligence?
- Understanding Communication Intelligence: Its Importance and Characteristics
- Communication Intelligence (COMINT) Market to Observe Significant Growth Due to Product Launches and Company Collaborations by Market Players, such as TCI International, Anritsu, and Others
