NEW YORK, Jan. 20, 2021 /PRNewswire/ -- The global signal intelligence market is predicted to witness massive growth in forecast period, owing to significantly growing terrorism across the globe. The North America region is anticipated to dominate the industry by 2027.
Research Dive in its latest published report projects that the Global Signal Intelligence (SIGINT) Market will generate $17,362.9 million and exhibit a CAGR of 4.0% from 2020 to 2027.
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The significantly rising terrorism and terrorist attacks in developed and developing countries across the globe is a significant factor predicted to bolster the growth of the global signal intelligence market during the forecast period. Besides, the growing adoption of SIGINT tools or systems in multiple industries such as energy & utilities is likely to create massive opportunities for the global market growth by 2027. Conversely, the high costs involved with the deployment of SIGINT systems is expected to restrict the market growth in the coming years.
Impact of COVID-19 Pandemic on the Signals Intelligence Industry
The outbreak of COVID-19 across the globe has positively impacted the global signal intelligence (SIGINT) market in 2020. The robust growth of the market is majorly owing to actionable effects of SIGINT tools or platforms on public health establishments' efforts as a preventive measure to control the COVID-19 outbreak. In addition, leading companies functioning in the market are taking initiatives to launch insightful webinars regarding the benefits of SIGINT systems, which is driving the global market growth. For instance, CRFS, a leading player in RF geolocation solutions, released a new series of webinars in July 2020 for educating and supporting those who are working on the electronic warfare. The webinar mainly focused on counter drone technologies, military spectrum management, and signal intelligence.
Key Segment Findings of the Market:
The report segments the global signal intelligence market into type, solution, and region.
- Based on type, the COMINT segment valued for $5,777.9 million in 2019 and is predicted to be most lucrative during the forecast period, mainly because COMINT is one of the important systems or tools that helps militaries with real-time decision-making.
- Based on solutions, the cyber solutions segment is projected to reach up to $3,608.0 million by 2027 and is anticipated to subjugate the industry by 2027, owing to increase in umber of cyber-attacks from the threat actors such as cyber terrorists, script-kiddies, hacktivists, cybercriminals, and targeted intrusion.
- Based on region, the North America SIGINT market is projected to surpass $5,528.3 million and is predicted to dominate the overall industry by the end of 2027. This dominance is majorly attributed to heavy investments by the U.S. and Canada in defense sector.
Top 10 Companies in Signal Intelligence Market:
The key players of the global signal intelligence (SIGINT) industry include
- L3Harris Technologies, Inc.
- Thales Group
- Mercury Systems, Inc.
- E Systems
- General Dynamics Corporation
- Northrop Grumman Corporation
- Rheinmetall AG
- Raytheon Technologies Corporation
- Elbit Systems Ltd.
- Lockheed Martin Corporation.
These players are focusing on mergers & acquisitions, technological advancements, and others to gain a competitive in the global market. For instance, in June 2019, General Atomics Aeronautical Systems, Inc., a leading provider of unmanned aerial vehicles & radar solutions for the U.S. military and commercial applications, and L3 Technologies, Inc., an American-based company, entered into a collaboration to jointly fund the development & flight test of a full-band SIGINT ISR capability for use on a Predator B RPAS (Remotely Piloted Aircraft System).
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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