New York, USA, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global signals intelligence (SIGINT) market. According to the report, the global market is projected to surpass $20,013.20 million and grow with a CAGR of 4.5% in the estimated period, 2022–2030. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Signals Intelligence (SIGINT) Market
The outbreak of the COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global signals intelligence (SIGINT) market. During the pandemic, there has been a significant rise in government surveillance campaigns, mainly by using cell phone applications in various regions worldwide. This surged the demand for signals intelligence techniques, which boosted the growth of the signals intelligence (SIGINT) market during the course of the pandemic.
Factors Impacting the Signals Intelligence (SIGINT) Market Growth
The key factor boosting the growth of the global signals intelligence (SIGINT) market is a significant rise in terrorist activities in nations such as India, China, and the U.S. and growing investments by governments into defense operations across the globe. In addition, the increasing demand for cyber intelligence is expected to open doors to lucrative opportunities for the growth of the market. However, the inability to detect numerous threats and high cost involved in setting up a signal intelligence system are anticipated to hamper the market’s growth.
The report segments the global signals intelligence (SIGINT) market into type, application, and region.
COMINT Signals Intelligence (SIGINT) Sub-Segment to Grab a Foremost Share of the Market
The COMINT signals intelligence (SIGINT) sub-segment of the type segment is anticipated to grow enormously by surpassing $6,189.10 million in the forecast period. This growth is mainly owed to the increasing demand for COMINT signals intelligence in militaries, as it helps in real-time decision-making and provides a strategic aid on the battlefield.
Naval Signals Intelligence Sub-Segment to Grow Remarkably
The naval signals intelligence sub-segment of the application segment is expected to hit $4,528.30 million in the forecast period. This is primarily due to the growing use of naval signals intelligence in the navy to make battle, tactical, and strategic intelligence decisions.
North America Region to Perceive Maximum Growth
The report analyzes the global signals intelligence (SIGINT) market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the North America market is projected to hit $6,206.1 million in the estimated period. This growth is mostly due to the growing investments in the military & defense sector in nations such as the U.S. and Canada in this region.
Top Players of the Global Market
The report states some of the foremost players operating in the global signals intelligence (SIGINT) market including
- General Dynamics Corporation
- Mercury Systems Inc.
- BAE Systems.
- Thales Group
- Northrop Grumman Corporation.
- Raytheon Technologies Corporation
- Lockheed Martin Corporation.
- Elbit Systems Ltd.
- Rheinmetall AG
- L3Harris Technologies Inc.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to attain a leading edge in the global market.
For instance, in July 2022, Signal AI, an External Intelligence company, launched an External Intelligence Graph, which is an all-inclusive outlook of an organization’s external world developed using real-time data and content.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Signals Intelligence (SIGINT) Market:
- Why is Signals Intelligence (SIGINT) the Backbone of Military Strategies?
- The Role of Signals Intelligence in Safeguarding your Nation
- 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
