Elements such as increasing demand for national security vigilance, criminal agencies and government institutions, growing demand from military systems and a rising number of intelligence equipment providers are boosting the market growth.
JERSEY CITY, N.J., March 29, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Signals Intelligence (SIGINT) Market" By Type (Electronic Intelligence (ELINT) and Communications Intelligence (COMINT)), By Application (Ground, Airborne, Naval, Space and Cyber), and By Geography. According to Verified Market Research, the Global Signals Intelligence (SIGINT) Market size was valued at USD 13.3 Billion in 2020 and is projected to reach USD 17.2 Billion by 2028, growing at a CAGR of 3.3% from 2021 to 2028.
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Global Signals Intelligence (SIGINT) Market Overview
Elements such as increasing demand for national security vigilance, criminal agencies and government institutions, growing demand from military systems and a rising number of intelligence equipment providers are boosting the market growth. Furthermore, greater adoption rates of electronic systems for intelligence are expected to fuel revenue growth. Additionally, more cost of equipment and the inability of these systems to track multiple threats at a single time is likely to hamper this market. The nations around the globe are analyzing and appealing to new alternatives to military systems to diminish costs.
Besides, the signals intelligence (SIGINT) industry is transferred from defense suppliers to commercial providers. For instance, the decreased defence budgets of some major economies, such as France, Germany, Saudi Arabia and the UK would affect the demand for SIGINT systems in the near future, which in turn, is acting as a challenge for the growth of the SIGINT market. Being a capital-intensive market, the market in the emerging economies is not growing at the desired pace. The diversity of threats is a prime challenge for the SIGINT market.
Key Developments
- In September 2020, BAE Systems announced the newest addition to its Unmanned Undersea Vehicle (UUV) portfolio, the Riptide UUV-12.
- In October 2020, Raytheon Intelligence and Space launched a virtualized testing solution to assess cyber vulnerabilities.
- In July 2020, Saab created a new FCAS center in the UK as a hub for its participation in the Future Combat Air Systems (FCAS) program. The UK and Sweden signed an MoU on FCAS co-operation in July 2019. Saab is leading Sweden's FCAS industrial participation in close co-operation with Sweden's Ministry of Defense.
Key Players
The major players in the market are Raytheon Intelligence., Elbit Systems Ltd., General Dynamics Corporation, Rheinmetall AG, Mercury Systems, Inc., Harris Corporation, BAE Systems., Thales Group, Northrop Grumman Corporation., Saab, among others.
Verified Market Research has segmented the Global Signals Intelligence (SIGINT) Market On the basis of Type, Application, and Geography.
- Industrial Robotic Motors Market, By Type
- Electronic Intelligence (ELINT)
- Communications Intelligence (COMINT)
- Industrial Robotic Motors Market, By Application
- Ground
- Airborne
- Naval
- Space
- Cyber
- Signals Intelligence (SIGINT) Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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