New York, USA, September 14, 2021 (GLOBE NEWSWIRE) – According to the latest report released by Research Dive global market for signal intelligence (SIGINT) a significant increase in sales is forecast $ 12,545.1 million in 2019 to survive $ 17,362.9 million in 2027 in a stable CAGR of 4.0% from 2020-2027.
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Growth: The number of terrorist attacks has increased sharply around the world, including in countries such as the United States, India and China. This has resulted in governments working towards investing in a defense budget to keep the nation safe. The Stockholm International Peace Research Institute (SIPRI) observed that the US increased its defense investments to over 6.6%. China’s investments also increased to 6.6% compared to 2018. These factors together with the constant innovations have led to the growth of the market.
Limitations: The cost of implementing a signal reconnaissance system is extremely high, which is why it does not have a significant presence in middle- and low-income countries. This has resulted in a decline in the growth of the Signal Intelligence market during the analysis period.
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Occasion: SIGINT is a necessary tool that is vital to both government and defense security. Over the years, technology has expanded immensely to include marine domain awareness, cyber surveillance, jamming, radio frequency (RF) spectrum mapping, wiretapping, and more. Extensive use of SIGINT systems to provide security and security across multiple sectors is expected to create a growth opportunity for the market over the forecast period.
The market is divided into several segments by type and solution.
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COMINT sub-segment is expected to hold the highest market share
By Type, the COMINT sub-segment is forecast to have sales of $ 9,041.7 million by 2027, up from $ 5,777.9 million in 2019. This tool is primarily used by the military to make real-time decisions on the battlefield. It helps in gathering data from the enemy forces, including text and voice messages, which will help the army keep abreast of the plan. In addition, the system is also known for its ability to intercept all information exchanged between the adversaries and at the same time detect all transmissions. These factors ensured the growth of the sub-segment over the forecast period.
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Cyber solutions sub-segment is expected to dominate the market
According to Solutions, the Cyber Solutions sub-segment is expected to have steadily increased revenue from $ 2,480.8 million in 2019 to over $ 3,608.0 million by 2027. The rapid pace of technological advances has led to an increase in cybercrime around the world. This has left individuals and businesses exposed to threats like targeted intrusion, cyberterrorism, hacktivists, script kiddies, and more. Cyber solution helps in solving these problems by analyzing the data of the attack which, if scanned, can also lead to the source of the attack. This helps to ensure the security of large amounts of data on the Internet. These factors should drive the subsegment’s growth over the analysis period.
The North America region is expected to generate the highest revenue of $ 5,528.3 million by 2027, up from $ 4,195.1 million in 2019.
The region is known for consistently investing in the defense of its countries, which includes the US, which contributed over $ 686 billion as part of its defense budget in 2019. Similarly, Canada invested about $ 22 billion in cybersecurity purposes. The increasing importance of investing in cybersecurity in both nations is expected to result in rapid growth of the regional market in the forecast period.
Important market participants
The report provides a list of well-known market players who have ensured constant growth in the market. They are listed as below:
1. BAE systems
2. Northrop Grumman Corporation
3. Raytheon Technologies Corporation
4. General Dynamics Corporation
5. L3Harris Technologies
6. Thales group
7. Lockheed Martin Corporation
8. Elbit Systems, Ltd
9. Rheinmetall AG
10. Mercury Systems, Inc.
The report provides an insight into the various initiatives by industry experts such as mergers, partnerships and collaborations, and product launches.
For example, in August 2021, BAE Systems announced that it is expected to give the company’s FAST Lab research and development organization access to advanced technology from Intel. This early access is intended to enable the company to develop state-of-the-art equipment that also includes signal processing equipment. Intel’s digital SHIP program is designed to help expand Intel’s broadband RF signal processing platform, ensuring that BAE Systems receives advanced technology at a lower cost.
Impact of COVID-19 on the Global Signal Intelligence Market
The global signal intelligence market is expected to grow immensely amid the pandemic as the technology will have far-reaching implications for health awareness campaigns. Initially, governments were reluctant to introduce SIGINT for medical purposes, citing legal and ethical issues. But recently, the innovations of several experts in the SIGINT market have helped them run webinars and are also entering into partnerships to ensure the market’s growth during the pandemic.
Additionally, 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 for the executive summary of the absolute top business development strategies.
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