New York, USA, June 22, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive states that the global signal intelligence (SIGINT) market is predicted to garner revenue of $17,362.9 million by 2027 rising from $12,545.1 million in 2019 at a stable CAGR of 4.0%.
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Market Analysis
Several countries around the world have been subjected to acts of terrorism which has pushed the governments to constantly develop and add to their defence budget. This can be observed in the US where, according to the Stockholm International Peace Research Institute (SIPRI), the nation has increased its investments in defence sector by 6.6%. The same can be noticed in China which has also seen its defence investments rise to 6.6% from 2018-2019. These factors are working towards contributing to the growth of the global signal intelligence market in the forecast period.
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On the contrary, signal intelligence systems are higher in costs which have led to a drop in demand of these systems. This is expected to act as a hindrance in the growth of the market.
The signal intelligence systems also play an important part in ensuring enhanced utilization and implementation in the government and defence sectors. Over the years, it has also expanded to various other areas such as maritime domain awareness, cyber-surveillance, radio-frequency (RF) spectrum mapping, and more. These factors are expected to provide a lucrative growth opportunity for the market.
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COVID-19 Impact on the Market
The global SIGINT market is projected to observe a massive rise in the growth rate during the COVID-19 pandemic. The governments of various countries across the globe are increasingly adopting SIGNIT to tackle legal and ethical issues and public health measures. In addition, key vendors in the SIGINT market are adopting some effective strategies, such as strategic partnerships and launching insightful webinars to grow in the international market during the unprecedented times.
Segmental Analysis
COMINT Sub-segment to Hold Highest Market Share
The report states that the by type, the COMINT sub-segment is estimated to experience a rise in revenue from $5,777.9 million in 2019 to over $9,041.7 million by 2027. COMINT is a tool that provides its inputs to the armies to help them take efficient decisions. The data from the enemy's end can also be collected using this technology and can also help detect fresh signal from the opponents. This is expected to further push the growth of the segment.
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Cyber Solutions Sub-segment to Dominate the Market
By solution, the cyber solutions of signal intelligence (SIGINT) market is predicted to witness a rise in revenue from $2,480.8 million in 2019 to over $3,608.0 million by 2027. Over time and with constant developments there has also been a rise in cyber-attacks by cybercriminals, hackers, and others. This has ensured that the data from these attacks is collected to pinpoint where they came from while also deciphering the hacking methods used. This is expected to give the segment a boost in the market.
Regional Analysis
As per the report, the North American region is expected to garner revenue of $5,528.3 million by 2027, rising from $4,195.1 million in 2019. This growth is due to the countries large amount of investment into the defence of their countries which are comprised of U.S and Canada. These investments to ensure safety of data are expected to propel the growth of the North American region in the forecast period.
Key Players of the Market
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
1. BAE Systems
2. Northrop Grumman Corporation
3. Raytheon Technologies Corporation
4. Genral Dynamics Corporation
5. L3Harris Technologies, Inc
6. Thales Group
7. Lockheed Martin Corporation
8. Elbit Systems Ltd
9. Rheinmetall AG
10. Mercury Systems, Inc
For instance, in December 2020, renowned aerospace expert, Lockheed Martin Corp acquired Aerojet Rocketdyne Holdings Inc, a manufacturer of advanced rockets. This initiative is set to further strengthen security missions.
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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Contact: Mr. Abhishek Paliwal Research Dive 30 Wall St. 8th Floor, New York NY 10005 (P) +91-(788)-802-9103 (India) Toll Free: 1-888-961-4454 E-mail: support@researchdive.com Website: https://www.researchdive.com Blog: https://www.researchdive.com/blog/ LinkedIn: https://www.linkedin.com/company/research-dive/ Twitter: https://twitter.com/ResearchDive Facebook: https://www.facebook.com/Research-Dive-1385542314927521
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