Signals Intelligence (SIGINT) Market to Reach $23.3 Bn, Globally, by 2030 at 4.5% CAGR: Allied Market Research
Tuesday, July 19, 2022
Increase in defense budgets of major countries across the globe and rise in adoption of advanced and innovative technologies and products drive the growth of the global signals intelligence market.
PORTLAND, Ore, July 11, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Signals Intelligence (SIGINT) Market By Type (Electronic Intelligence (ELINT), Communications Intelligence (COMINT)), By Application (Airborne, Ground, Naval, Space, Cyber): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global signals intelligence (SIGINT) market generated $15.5 billion in 2021, and is expected to reach $23.3 billion by 2030, witnessing a CAGR of 4.5% from 2022 to 2030.
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Drivers, Restraints, and Opportunities
Increase in defense budgets of major countries across the globe and rise in adoption of advanced and innovative technologies and products drive the growth of the global signals intelligence market. However, budgetary constraints and lack of skilled personnel restrain the market growth. On the other hand, the emergence of solutions that enable air-force management, situational awareness, and extensive collaborative mission planning presents new opportunities.
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Covid-19 Scenario
-- The Covid-19 pandemic led to a significant rise in government
surveillance tactics across the world, primarily through the mobile
phone applications. This greatly impacted the signal intelligence
market.
-- The R&D activities and production activities of innovative signal
intelligence systems were stopped completely or partially during the
lockdown. This impacted the overall revenue of the market negatively.
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The electronic intelligence (ELINT) segment contributed to the largest share in 2021
Based on type, the electronic intelligence (ELINT) segment held the highest market share in 2021, contributing to more than half of the global signals intelligence market. This is attributed to the utilization of ELINT to gather information regarding radars and operational methods of enemy and ensure national safety and border security. However, the communications intelligence (COMINT) segment is estimated to witness the largest CAGR of 6.1% from 2022 to 2030, owing to increase in adoption of technologies such as artificial intelligence in electronic warfare, machine learning, and 5G by military departments across the world.
The airborne segment accounted for the highest share in 2021
Based on application, the airborne segment contributed the highest market share in 2021, accounting for more than four-fifths of the global signals intelligence industry. This is attributed to adoption of signal intelligence systems to achieve universal situational awareness, air-force management, and extensive collaborative mission planning. However, the cyber segment is expected to manifest the fastest CAGR of 5.2% from 2022 to 2030, owing to increase in number of cyber-attacks globally.
North America to maintain its dominance in terms of revenue by 2030
Based on region, North America accounted for the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global signals intelligence market, and is expected to maintain its dominance in terms of revenue by 2030. This is attributed to heavy investments in the defense sector in countries including the U.S. and Canada. However, Asia-Pacific is estimated to register the fastest CAGR of 5.0% during the forecast period. This is due to rise in security & border threats from neighboring countries, technological advancements, and rapid economic development in China, India, Russia, and South Korea.
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Leading Market Players
-- BAE Systems
-- Thales Group
-- Northrop Grumman Corporation
-- Lockheed Martin Corporation
-- Raytheon Company
-- Elbit Systems Ltd.
-- General Dynamics Corporation
-- Rheinmetall AG
-- Mercury Systems Inc.
-- Harris Corporation
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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