Global Signals Intelligence (SIGINT) Market Predicted to Gather $20,013.20 Million by 2030, Growing at a CAGR of 4.5% from 2022-2030
The Signals intelligence (SIGINT) market is expected to grow by 2030 due to the growing demand for cyber intelligence. COMINT sub-segment is expected to be the most profitable. Market in North America region to be the most dominant.
NEW YORK, June 20, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled, “Signals intelligence (SIGINT) Market by Type (ELINT and COMINT), Application (Airborne, Ground, Naval, Cyber, and Space), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030”.
As per the report, the global signals intelligence (SIGINT) market is predicted to gather $20,013.20 million by 2030 and grow at a noteworthy CAGR of 4.5% in the 2022-2030 timeframe.
Dynamics of the Signals Intelligence (SIGINT) Market
Drivers: Growing concerns regarding national security have increased the demand for signal intelligence systems all across the globe, which is expected to be the primary growth driver of the market. Apart from this, the exponential rise in the budgetary allocation for defense services by various governments across the world is expected to further push the signals intelligence (SIGINT) market forward.
Opportunities: Increasing number of terrorist attacks across the globe have led to an increase in the demand for signal intelligence systems as many countries have started replacing old defense systems with these state-of-the-art signal intelligence systems. This is expected to offer numerous growth opportunities to the market. Also, the rising demand for cyber intelligence is expected to multiply the investment opportunities available to the market.
Restraints: However, the high cost associated with the setting up of signal intelligence systems is expected to hamper the growth of the signals intelligence (SIGINT) market.
Impact of Covid-19 on the Signals Intelligence (SIGINT) Market
The Covid-19 pandemic, since its outbreak, has been catastrophic for several industries and businesses across the globe. The subsequent lockdowns ordered by various governments have made the situation worse by hampering the global supply chains. However, the signals intelligence (SIGINT) market has been an exception. The rise in government surveillance tactics especially through cell phone applications has resulted in a massive increase in demand for signal intelligence systems. Furthermore, various initiatives undertaken by leading private players of the industry to educate people working on electronic warfare has led to capacity-building of various organizations which has increased the usability of SIGINT systems. Hence the signals intelligence (SIGINT) market is projected to grow handsomely despite the pandemic situation.
Segments of the Signals Intelligence (SIGINT) Market
The report has fragmented the signals intelligence (SIGINT) market into different segments based on type, application, and region.
By type, the COMINT sub-segment, which was worth more than $6,189.10 million in 2021, is predicted to generate the maximum revenue by 2030. COMINT (Communication Intelligence) tools provide real-time inputs to the militaries which helps them in judging the situation on the battlefield accurately and taking decisions accordingly. As a result, there is a high demand for these systems which is expected to boost the growth of this sub-segment.
By application, the naval signals intelligence (SIGINT) sub-segment of the signals intelligence (SIGINT) market is expected to register a revenue of $4,528.30 million by 2030, thereby becoming the most profitable sub-segment. The increasing adoption of signal intelligence systems by navy specialists for determining target identification and operational patterns is expected to be the main growth driver of this sub-segment.
By regional analysis, the market North America region is expected to have the most dominant market share andgather $6,206.1 million by 2030. The heavy investments in the defense sectors by various countries of this region, especially the United States of America is anticipated to be the leading factor behind the growth of this sub-segment.