Impact Analysis of COVID-19 on the Signal Intelligence (SIGINT) Market:
The global signal intelligence (SIGINT) market is anticipated to witness a significant increase in growth during the COVID-19 pandemic.
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Several market players are providing innovative solutions to help naval forces, during the COVID-19 outbreak. In September 2020, Rohde & Schwarz, a leading naval communications intelligence solutions provider, introduced the multichannel naval COMINT system that helps in increasing situational awareness on naval vessels and expanding surveillance abilities. The system has ability to detect and monitor communications in HF (High frequency), UHF (Ultra high frequency), and VHF (Very high frequency) bands. Such product developments are further expected to create positive opportunities after the global outbreak.
Signal Intelligence (SIGINT) Market Analysis:
Growing threats of international terrorism is one of the key factors that may drive the demand for SINGINT platforms. Furthermore, increased defense budget coupled with modernization of defense system for national safety in the developed as well as developing countries are projected to propel the demand for advanced solutions, which may further fuel the market growth in the coming years.
Incapability to address multiple threats, along with higher cost associated with installation of signal intelligence system, is anticipated hamper the global market growth.
SIGINT has played a key role in government and defense sectors. Furthermore, SIGINT tools are expanding their reach in various applications areas including cyber-surveillance, Radio Frequency (RF) spectrum mapping, jamming, maritime domain awareness, and eavesdropping. Multiple industries like energy & utilities sectors are going for incorporation of SIGINT technologies for improved protection facilities. These factors are further expected to create lucrative opportunities for the global SIGINT market, in the future.
COMINT type for the signal intelligence (SIGINT) industry will have a significant market growth and it is projected to reach upto $9,041.7 million by 2027, growing from $5,777.9 million in 2019. COMINT offers the operator the capability detect and analyze unusual movements, signal, and patterns of the enemy forces. Furthermore, heavy investment by the government authorities along with novel product innovations are further expected to increase the sub-segment growth during the forecast period.
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The cyber sub-segment of the signal intelligence (SIGINT) industry shall enormous market growth and it is anticipated to cross $3,608.0 million by 2027, with the rise from $2,480.8 million in 2019. Cyber threat intelligence is the vital information that the defense sector utilizes mainly to understand potential threat. Furthermore, it has a major role in gathering, analyzing, and categorizing all of the information associated with the threat-actors and the attack process used. In November 2020, CY4GATE, a venture active in broad areas of cyber industry, has announced that it has been awarded the contract of evolutionary development of cyber intelligence and cyber defense modelling for a top NATO (North Atlantic Treaty Organization) Centre of Excellence. These factors may propel the market growth during the projected period.
The air borne sub-segment of the signal intelligence (SIGINT) market will hold the largest share and it is expected to reach upto $33,615.2 million by 2027, with the rise from $2,893.3 million in 2019. The solutions help to ease the routine operations of air forces as regular information transmission. Also, the solutions serve the right data at the right time and play key role in collecting information associated to any unwanted activities to provide authorities for quick decision-making.
The North America signal intelligence (SIGINT) market has generated a revenue of $4,195.1 million in 2019 and is expected to register a revenue of $5,528.3 million by the end 2027. Supportive government policies are expected to demand for innovative tools, which may ultimately foster the market growth in the region. For example, in December 2019, the U.S. government has announced that it has signed a National Defense Authorization Act bill that surges funding for military and defense sector.
Asia-Pacific market for signal intelligence (SIGINT) solutions is anticipated to grow at a CAGR of 4.9% by registering a revenue of $4,540.4 million in 2027 due to increased spending made by emerging economies like South Korea, India, Japan, and China toward the development of innovative SIGINT products. Furthermore, the enormously increased focus of both domestic as well as international players on the SIGINT market is contributing to the extensive need for SIGINT systems in the APAC. Also, the rise in territorial and political disputes, terror attacks, and insurgencies are some of the factors fueling the market growth in the Asia Pacific region.
Key Players
- BAE Systems.
- Thales Group
- Northrop Grumman Corporation.
- Lockheed Martin Corporation.
- Raytheon Technologies Corporation
- Elbit Systems Ltd.
- General Dynamics Corporation
- Rheinmetall AG
- Mercury Systems, Inc
- L3Harris Technologies, Inc.
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